Your Task
You have been requested to write part of ministerial briefing note for the new minister of the environment in the Australian government. The minister wants to explain to parliament, the consequences of climate change on Australia’s production and consumption of certain goods and services and the impact that these changes may have on the macroeconomy. The minister is interested in the impact on costs, domestic production, imports and exports, prices, inflation, employment and economic growth; and the welfare of producers and consumers of the products.
Select a two products/services that will be impacted by climate change and that impact on Australia’s macroeconomy.
- Your first product or service should be one where climate change will primarily impact upon demand.
Microeconomic Impact #1
In your report you should provide answers to the following questions. Why will demand change and in which direction? What will be the impact on prices, production and welfare? You should support your explanation with a well labelled demand and supply diagram.
Macroeconomic Impact #1
How will the changes above impact on GDP? Which components of GDP will most affected? How might inflation and unemployment be affected? What type of inflation and unemployment will be most affected.
- Your second product or service should be one where climate change will primarily impact upon supply.
Microeconomic Impact #2
In your report you should provide answers to the following questions. Why will supply change and in which direction? What will be the impact on prices, production and welfare? You should support your explanation with a second well labelled demand and supply diagram.
Macroeconomic Impact #2
How will the changes above impact on GDP? Which components of GDP will most effected? How might inflation and unemployment be affected? What type of inflation and unemployment will be most affected.
Your report should also include
- a brief introduction of 2-4 sentences a brief conclusion of 3-6 sentences.
- references
Instructions
- This assignment must be completed and submitted by each individual student.
- The assignment must be typed. You must use and font no smaller than 11 point and line spacing of 1.5 or larger.
- The assignment has a maximum word limit of 600 words. The word count does not include the title page, diagrams or references. In MS Word, highlight the appropriate text and select Word Count from the Review tab.
- You must reference the acknowledge the source of the words or ideas that have been used in preparing your assignment, when not your own. Work which has not been properly referenced will be penalised. Any assignment that tries to pass off others’ ideas/words as their own will receive a zero grade.
- Diagrams of may be hand drawn and photographed/scanned and embedded into your document. Please ensure all diagrams are easily visible. You may draw diagrams electronically if you wish, but it can take a considerable amount of time.
- Please include the BEA111 Assignment Title Page / Cover Sheet information (at the end of this document) as the first page of your assignment (by cutting and pasting it into your document). Ensure you have included: o Your full name o Your student ID
- Your tutorial day and time for Hobart and Cradle Coast on campus students o Your study mode or campus: Distance, Hobart or Cradle Coast
- You signature or mark indicating at the end of the stated declaration that your submission is your own original work. You may take a picture of your signature and insert it, or any make other text or mark to indicate that you have made the declaration.
- Save your file as a PDF file “BEA111 Assignment 123456.pdf”, where 123456 is your student
- Log into BEA111 MyLO and select the Assessment/Assignments link. Select the Assignment submission link to upload your file. Upload your MS-Word or PDF file containing your assignment by selecting the “Add a File” button and then click the “Submit” button at the bottom of the page.
- Assignments will be passed through the TurnItIn software to check that your work is original and that you have referenced appropriately. See http://www.utas.edu.au/turnitin/info–forstudents for more information. Students may submit their assignment to TurnItIn themselves prior to submitting to check the academic integrity of their work.
Assessment Rubric
| Content and Weighting | HD 80%+ | DN 70-79% | CR 60-69% | PP 50-59% |
| Microeconomic
Principles 50% |
Detailed and accurate
coverage of key micro principles and impacts relevant to the topic |
Good coverage of key micro
principles and impacts relevant to the topic. |
Adequate coverage or some of the key micro
principles relevant to the topic. |
Some coverage or some of the key micro principles
relevant to the topic. |
| Macroeconomic
Principles 30% |
Detailed and accurate
coverage of key macro principles and impacts relevant to the topic |
Good coverage of key macro
principles and impacts relevant to the topic. |
Adequate coverage or some of the key macro
principles relevant to the topic. |
Some coverage or some of the key macro
principles relevant to the topic. |
| Writing and diagrams
20% |
Concisely written in language
appropriate to the task. Accurate and well-presented diagrams. |
Relatively concise, mainly written in language
appropriate to the task. Relatively accurate and wellpresented diagrams. |
Relatively concise
OR mainly written in language appropriate to the task. Appropriate diagrams lacking in precision or with minor errors. |
At times written in language
appropriate to the task. Appropriate diagrams attempted. |
BEA111 PRINCIPLES OF ECONOMICS 1 ASSIGNMENT 2019
Student ID Number:
Family Name:
Given Name(s):
Tutorial Day and Time:
Study Mode / Campus:
Word Count:
I declare that all material in this assignment is my own work except where there is clear acknowledgement or reference to the work of others. I am aware that my assignment may be submitted to plagiarism detection software and might be retained on its database. I have read and complied with the University statement on Plagiarism and Academic Integrity on the University website at www.utas.edu.au/plagiarism . I will keep a copy of this assignment until the end of the semester.
Signed: Date: 9/04/2019
* By making a mark, inserting text or pasting your signature to the right of “Signed:” You are deemed to have made the declaration above.
