Reserve Bank Of. 2024. Statement by the Reserve Bank Board: Monetary Policy Decision | Media Releases. Reserve Bank of Australia. May 7, 2024. https
References
Reserve Bank Of. 2024. Statement by the Reserve Bank Board: Monetary Policy Decision | Media Releases. Reserve Bank of Australia. May 7, 2024. https://www.rba.gov.au/media-releases/2024/mr-24-08.html.
Team, FXStreet. 2024. Bullock Speech: RBA Governor Speaks on Policy Outlook After Holding Interest Rate. FXStreet, May 7, 2024. https://www.fxstreet.com/news/rba-expected-to-leave-key-interest-rate-on-hold-as-inflation-lingers-202405062245.
Lewin, Rhiannon. 2024. Reserve Bank of Australia Holds Interest Rates Steady in Third Decision of the Year. 7NEWS, May 8, 2024. https://7news.com.au/news/reserve-bank-of-australia-holds-interest-rates-steady-in-third-decision-of-the-year-c-14562241.
SBS News. 2024. &Apos;Unlikely to Be Smooth&Apos;: Reserve Bank&Apos;S Inflation Concern After Rates Left on Hold. May 7, 2024. https://www.sbs.com.au/news/article/reserve-banks-inflation-concern-after-rates-left-on-hold/z22yes5d3.
Australia, Scheme=AGLSTERMS.AglsAgent; corporateName=Reserve Bank Of. 2023. 2023 | Monetary Policy Decisions. Reserve Bank of Australia. December 5, 2023. https://www.rba.gov.au/monetary-policy/int-rate-decisions/2023/.
Hannam, Peter. 2023. Reserve Bank Hikes Cash Rate by 25 Basis Points to 4.35%. The Guardian, December 5, 2023. https://www.theguardian.com/australia-news/2023/nov/07/rba-interest-rates-rise-hike-november-official-cash-rate-announcement-reserve-bank-australia?ref=todayheadlines.live.
. 2024a. Cash Rate Target. Reserve Bank of Australia. March 19, 2024. https://www.rba.gov.au/statistics/cash-rate/.
Sarah Woo. 2023. ABC News. November 7, 2023. https://www.abc.net.au/news/2023-11-07/reserve-bank-interest-rates-repayments/100252322.
BUS171 Foundations of Economics: Research Essay Marks Allocation Guide and Feedback Key
Student Name: _____________________________
Student Number: _____________________________
I = Insufficient S = Satisfactory G = Good V = Very Good E = Excellent
I S G V E Marks
Referencing and Essay Structure
Maximum 10
At least 6 to 10 credible and relevant references.
Correct in-text citation and referencing using the Chicago style, and referencing consistent with academic integrity.
Essay structured with a relevant introduction, body paragraphs and conclusion that addresses the question.
Correct spelling (Australian English not US), grammar, sentence structure and paragraph formation.
Adherence to the word limit (+/- 10%) and prescribed essay formatting outlined in the essay checklist.
Use of academic language; essay written in the 3rd person.
Clear and neat presentation. Refer to the essay checklist. Essay Answer
Define and explain relevant economic concepts and models (economic diagrams) that are important to framing a response to the question.
Use relevant economic terminology accurately throughout the essay.
Clearly communicate key ideas, economic knowledge, economic models and theory relevant to addressing all aspects of the question in a coherent and logically sequenced manner.
Apply relevant economic reasoning and analytical skills to a real world context.
Demonstrate the ability to research, interpret and synthesize relevant sources including data and empirical evidence to substantiate key ideas and make informed and balanced judgements.
Maximum 20
Final Mark and Grade: HD, D, C, P, N. Grade: /30
Note: This essaymark allocation is a guide only. In certain instances, it may be necessary to exercise discretion in the marks allocated to specific essay criteria.
Overall Comments:
BUS171 Optional Essay Outline S1 2024
Due Date: 9am Monday 13th May 2024.
RESEARCH ESSAY TOPIC:
Reserve Bank raises interest rates, repayments now up more than 50pc since hikes began.
By business reporterMichael JandaPostedTue 7 Nov 2023 at 11:30amTuesday 7 Nov 2023 at 11:30am,updatedTue 7 Nov 2023 at 5:43pm
Reserve Bank governorMichele Bullock is trying to get a grip on inflation without crashing the economy into recession.
Using a relevant economic model/theory, explain why the Reserve Bank of Australia increased the cash rate in 2023 and evaluate the effectiveness of this change in monetary policy stance.
[Note: This topic is largely based on material covered in Topic 11, and topics 9 and 10 are also relevant.]
Before submitting your essay:
Use the Essay Checklist on the LMS website.
Check that your Ouriginal similarity Index is below 30%.
Ensure that you have referenced your essay throughout, and that you have included a Reference List at the end.
Before submitting your essay:
Use the Essay Checklist on the LMS website. If you can tick every box you will be reducing possible marks deducted for errors that can be easily corrected.
The Essay Checklist for this assignment is available on the LMS under the Assessments section.
Check that your Ouriginal similarity index, previously called Urkund, is below 30%. Essays with a text matching score of >30% will be cross-checked by the marker with the relevant Ouriginal report. This may not be a problem, but markers will check for any plagiarism or copying, and if detected, this will be reported. It is best to ensure that your text-matching similarity index is below 30%.
Please check that all direct quotes are in quotation marks and that all work is written in your own words.
Reference list: Ensure that you have referenced your essay throughout (in text citations), and that you have included a Reference List at the end. You should have 6-10 quality references (more is fine).
Use the Chicago referencing style. Although Chicago style does not include access or view dates for electronic citations, please add this information into your reference list.
Word limit, font and document type: Ensure that it is 1,500 words (10% either way is okay), typed using Times New Roman size 12 font, double-spaced with normal margins and uploaded as a Word document via LMS.
Marking criteria: A feedback key/marking guide for this assignment is available on the LMS under the Assessments section. Please refer to this when writing your essay.
Late essays: Note that the Business School has implemented a 10% marks deduction per day late. If you are ill or have extenuating circumstances, please send the documents or details (e.g. medical certificate) to the Unit Coordinator (Vanessa Grida) to apply for an extension before the due date.
______________________________________________________
Optional Essay Outline
The following is a guide only. It is not prescriptive. You may choose to approach the essay differently - just ensure you address all aspects of the question.
1 Introduction
Brief outline of what the essay will be covering (thesis statement) and some context regarding the issues.
2 Explain the concept of monetary policy
Explain the concept of monetary policy in Australia.
Be specific about the role of monetary policy in stabilizing the economy.
3 Specific details and diagram/s related to this topic
Include a relevant graphUse the graph to explain and analyse the effects on inflation and employment of changes in aggregate demand and supply.
Explain the impact of the policy on firms and on consumers.
Clearly label your graph.
Define relevant terms.
Explain your graph by referring to specific points on the graph.
4 Real-world application
Briefly explain the aims of this policy and why it was implemented.
Evaluate this policy, using specific data to support your comments.
5 Conclusion
Briefly restate (summarise) key ideas/points/conclusion.
6 Reference list
Chicago style. Include date accessed for online material.
