MACRO Economics WITH SOME GRAPH WILL BE REQUIRED.

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timer Asked: Oct 4th, 2018
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Question description

Check attached files attached...

1. Please attach coversheet along with your assignment.

2. This assignment is worth 25%

3. It is due on 28th Oct 2018, 11:00pm (Adelaide SA time) (Week 9)

4. The word limit is 1250-1500 in total (including graphs and references and all text) (10% up or down)

5. Submit your assignment in Word file (PDF or another format is NOT acceptable).

6. No resubmissions are allowed.

7. Answer each question separately - there is no need for an introduction or conclusion;

8. Make sure to use the correct diagrams/models as specified in each question; (i.e. understand the difference between AE model; the static AD-AS model; and the dynamic AD-AS model)

9. Make sure to fully label diagrams; and clearly indicate changes you make to graphs;

10. Hand-drawn graphs are accepted.

11. Explain the main linkages between the initial impact and the final changes in diagrams;

12. Specify any assumptions you make and use clear, concise and coherent set of arguments in your discussion/analysis - IN English;

13. There is no need to provide actual data/numbers as this is a conceptual exercise;

14. There is no need for additional resources; but you can draw upon other references (but cite) in support of any particular arguments you make in your discussion;

15. Note that 3 marks will be awarded for the overall presentation – i.e. correct grammar, the use of graphs, and how clearly you articulate your arguments/discussion

16. In case of requiring extension, you need to apply through the extension link provided on your learn online unit. It is important to provide a proper documentation for processing your request.

17. Assignments with approved extensions have to be submitted by 4th Nov 2018, 11:00pm.

18. In accordance with the Division of Business guidelines, assignments submitted late without permission from the course coordinator/s will attract a penalty of 10% of the total possible marks for the assignment per day for each day late, or part thereof, after the due date.

19. Need to provide references, using UniSA referencing guidelines (www.unisa.edu.au/Referencing)

20. Be very mindful of academic integrity - this must be solely your work

Assignment 2 Instructions Assignment 2 - Applied writing 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Please attach coversheet along with your assignment. This assignment is worth 25% It is due on 28th Oct 2018, 11:00pm (Adelaide SA time) (Week 9) The word limit is 1250-1500 in total (including graphs and references and all text) (10% up or down) Submit your assignment in Word file (PDF or another format is NOT acceptable). No resubmissions are allowed. Answer each question separately - there is no need for an introduction or conclusion; Make sure to use the correct diagrams/models as specified in each question; (i.e. understand the difference between AE model; the static AD-AS model; and the dynamic AD-AS model) Make sure to fully label diagrams; and clearly indicate changes you make to graphs; Hand-drawn graphs are accepted. Explain the main linkages between the initial impact and the final changes in diagrams; Specify any assumptions you make and use clear, concise and coherent set of arguments in your discussion/analysis - IN English; There is no need to provide actual data/numbers as this is a conceptual exercise; There is no need for additional resources; but you can draw upon other references (but cite) in support of any particular arguments you make in your discussion; Note that 3 marks will be awarded for the overall presentation – i.e. correct grammar, the use of graphs, and how clearly you articulate your arguments/discussion In case of requiring extension, you need to apply through the extension link provided on your learn online unit. It is important to provide a proper documentation for processing your request. Assignments with approved extensions have to be submitted by 4th Nov 2018, 11:00pm. In accordance with the Division of Business guidelines, assignments submitted late without permission from the course coordinator/s will attract a penalty of 10% of the total possible marks for the assignment per day for each day late, or part thereof, after the due date. Need to provide references, using UniSA referencing guidelines (www.unisa.edu.au/Referencing) Be very mindful of academic integrity - this must be solely your work
` UNIVERSITY OF SOUTH AUSTRALIA SCHOOL OF COMMERCE ECO12 MACROECONOMICS STUDY PERIOD 3, 2018 Written ASSIGNMENT Due date: 28 October 2018 (11.00 pm) ASSIGNMENT TOPIC Assignment 2 Written assignment Weighting: 25% Length: Word limit: 1250-1500 words in total (including diagrams, references and all text) Due Date: Sunday 28 October 2018 11.00 pm Topic: Read the news article below and answer all questions. Jobs boom puts RBA under pressure to raise interest rates by Jacob Greber Australian Financial review; July 19, 2018. With official labour market data for June showing employers added three times as many jobs as forecast, some economists are warning the Reserve Bank risks being blindsided by a more rapid fall in the 5.4 per cent unemployment rate and faster inflation. "The key things to watch are whether upward momentum in inflation and wages continues, and the unemployment rate falls. The latter can happen at a faster pace than is incorporated in the RBA's forecasts." Employment surged by 50,900 people, with four in five taking up full-time positions, the Australian Bureau of Statistics reported on Thursday. … Reserve Bank policy makers repeatedly signalled they are in no hurry to begin normalising the nation's ultra-low cash rate. Jobs boom puts RBA under pressure to raise interest rate. Despite the upbeat commentary, Australia's central bank is unlikely to lift the official cash rate before the second half of next year, according to financial market futures pricing, with several high-profile economists not anticipating hikes until 2020 at the earliest. … Annette Beacher, an economist at TD Securities, suggested money market investors are "asleep at the wheel" in anticipating the official cash rate will remain unchanged through into the first half of 2019. "If the unemployment rate slumps towards 5 per cent sooner rather than later (ie, not so gradual after all), the RBA's rhetoric 'should' turn more hawkish by year end. "I do think wages are about to pop, but will they be 3 per cent as the RBA is soft-targeting?" she said, noting that union-negotiated wages agreements have lifted in recent months. 2 ECO12 Macroeconomics Assignment SP3 2018 All eyes are now on next week's official second-quarter inflation numbers, which economists predict will show are still at the bottom end of the Reserve Bank's 2-3 per cent target. One factor keeping the jobless rate from falling more rapidly is Australia's participation rate, which edged up to 65.7 per cent in June from 65.5 per cent in May. While that means more jobs need to be created to pull the jobless rate down, higher participation is often seen as a sign of a strong labour market as more workers are encouraged to look for jobs. Helped by booming NSW and Victorian economies, the labour market has grown by 339,000 jobs over the past 12 month, with just under half in the nation's biggest state. The official figures mirror other indicators of an improving labour market, including rising job vacancies, which have reached the highest annual growth in 7½ years, as well as surveys showing businesses are enjoying positive conditions and expect to add more workers. 3 ECO12 Macroeconomics Assignment SP3 2018 Answer all Questions below: Qu. 1(a) Explain what is meant by the statement, “One factor keeping the jobless rate from falling more rapidly is Australia’s participation rate which edged up…”, by highlighting the connection between jobs growth, participation rate and unemployment rate. [3 marks] Qu. 1(b) The article states that most of the job growth is with “…four in five taking up fulltime positions”. Explain whether or not the official unemployment rate is affected by job growth occurring mainly in the form of full-time positions in comparison to part-time positions. In your answer explain the implications of this for the concept of measuring ‘full’ employment. [3 marks] Qu.2 Use the aggregate expenditure (AE) model to depict the situation that has occurred over the past few months in terms of the resulting impact on economic output and (un)employment. In your answer make sure to discuss the equilibrating process of moving to a new macroeconomic equilibrium output. [4 marks] Qu. 3 Use the static AD-AS model to analyse the circumstances where the RBA is “...blindsided by a more rapid fall in the 5.4 per cent unemployment rate and faster inflation” and does not raise interest rates; and jobs growth and the fall in the unemployment is greater than expected. In your answer make sure to use the static AD-AS model show the initial impact on output and the price level, and also explain the longer run implications if the Reserve Bank fails to raise interest rates if economic circumstances as predicted by some market economists eventuate. [6 marks] Qu. 4 Use the dynamic AD-AS model(s) to explain the economic circumstances which will determine whether the Reserve Bank adopts the approach where “the official cash rates will remain unchanged through into the first half of 2019” in contrast to the circumstances where it will “turn more hawkish” and will raise interest rates over the next 12 months. [6 marks] Overall Presentation [3 marks] Total 25 marks 4 ECO12 Macroeconomics Assignment SP3 2018 AIMS AND OBJECTIVES OF MACROECONOMICS ASSIGNMENT The assessment is primarily designed to advance your understanding and application of economic theory to real world situations. Particular attention is given to using particular models (i.e. AE model and static/dynamic AD/AS models) to analyse real world scenarios. ASSESSMENT CRITERIA Judging the quality of submitted material requires some judgment by academic staff. Rather than a simple formulaic approach, markers combine a number of elements to judge the quality of an assignment. In broad terms, assessment of your assignments will take into account: Relevance of your answer to the question (Did you answer the question?) Did you use a model and graphical representation to analyse the question? Clarity of expression (Is it written well?) Logical planning and sequence (Does the argument make sense?) Did you provide theoretical support for the arguments used? Was the question answered fully or only in part? Where appropriate, were sources properly cited and referenced? Overall presentation, including correct grammar, spelling and punctuation (Is the presentation of professional quality?) For access to learning resources associated with assignment preparation see the learning hub located at: https://lo.unisa.edu.au/course/view.php?id=4074 REFERENCES AND PLAGIARISM You are expected to answer written questions in your own words. In written academic work you must acknowledge the source of your information (including set textbooks) but only those references that are actually used should be cited. You should use the Harvard referencing system. (see: https://lo.unisa.edu.au/course/view.php?id=3839 ) ACADEMIC INTEGRITY The university is committed to academic integrity and has policies and procedures in place to ensure academic integrity. More information about academic integrity (AI) can be found in the Assessment policies and procedures manual at: http://www.unisa.edu.au/policies/manual/ Or visit the AI Module website https://lo.unisa.edu.au/mod/book/view.php?id=252142 which explains in detail how students can work with integrity at the University. ANY WORK CONTAINING WORK THAT HAS BEEN JUDGED TO CONTAIN PLAGIARISM WILL SCORE ZERO MARKS; SERIOUS ACADEMIC MISCONDUCT MAY RESULT IN SUSPENSION FROM THE UNIVERSITY. PENALTIES FOR LATE ASSIGNMENTS Late assignments that do not have approved extensions will incur a penalty: for every day late, ten per cent will be deducted. No assignments will be accepted after 7 days past the due date. 5 ECO12 Macroeconomics Assignment SP3 2018

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Magda25
School: Carnegie Mellon University

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