Economics for Business Semester 1, 2023 Assessment 2: Case Study 2 Quesons
Economics for Business Semester 1, 2023 Assessment 2: Case Study 2 Quesons
The purpose of this assignment is to provide you with an opportunity to demonstrate your understanding of macroeconomic concepts introduced to you in Weeks 9 to 12.
Word LimitThe word limit of this assignment is 800 words. 10% above and below the word limit are acceptable.
Due Date (extended): Friday 6th June 4:00 pm
Presentaon
Assignments must be typed. It is perfectly fine to manually draw in the diagrams, by leaving spaces in your typing or by adding them as Appendixes. Diagrams can be time consuming and difficult to draw on the computer. Scan your final version and upload to the Assignment site.
This assignment requires you do independent research to obtain the relevant information and data.
You must acknowledge any external sources that you may use. Please use Harvard style referencing. Date of Return
For this assignment, you have to choose and evaluate any two macroeconomic measures taken by the Government during COVID-19 from the list provided on the following page.
The table below shows the marking criteria
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Background information
The Australian economy has experienced significant repercussions since the onset of COVID-19 in January 2020. The implementation of measures to contain the spread of the virus, such as social distancing, commercial trading restrictions, and stay-at-home orders, has resulted in diverse impacts on economic activities.
In an effort to provide assistance to households and businesses during the pandemic, the Australian government has introduced various subsidies and financial support initiatives. Here are some of the notable economic measures announced by the Australian Federal government:
Job Keeper Payment Program
Low- and middle-income earner tax offsets
Jobseeker supplement
Required:
With the two of the economic measures listed above. For each of your chosen economic measures:
1) Explain the economic measure, including the benefits offered and the eligibility criteria, the type of economic policy and the rationale behind the measure.
2) Explain with diagram(s), the effect on real GDP, inflation, and unemployment. You should obtain and use real data for real GDP, inflation, and unemployment rates (from 2020 to 2022) to support you answer.
