TECO602 Economic Environment of Business Assessment Essay Task
Assignment Details:
- Document Type: Essay writing (any type)
- Subject: Economics
- Number of Words: 2000
- Citation/Referencing Style: Harvard
Assessment Answers for TECO601/TECO602 Economic Environment of Business Assignment consists of two essay questions. (worth 10 marks each). Assignment Help AUS offered Economic Environment Essay, Legal Environment Assignment Answers, Homework Answers and others by Aussie Expert Writers. Get Them Here Now! 100+ Experts Online to Assist You 24*7; A+ Grade.
ESSAY ASSIGNMENT TASK
Assignment consists of two essay questions (worth 10 marks each) based on the subject material and require some additional research. Sources used in your answer should be fully referenced in Harvard style.
You are advised to access media items for further elaboration and illustration of the issues raised in your essays. It is expected that you use at least 5 references for each essay (10 in total).
Complete the following essays ensuring that you apply economic principles or theory wherever possible to support your discussion. Communicate your ideas with correct grammar, spelling and writing style and support your answers with diagrams and illustrative examples as necessary.
Essay 1 (10 marks) (Approximately 1,000 words)
Drawing on your knowledge of the theory of demand and supply – supplemented by appropriate media reports – explain why the price of housing in major Australian cities has fluctuated over the last two years.
Essay 2 (10 marks) (Approximately 1,000 words)
Explain the impact that the COVID 19 pandemic has had on each of the four expenditure components of aggregate demand and on aggregate supply. Assess the consequences of this impact on the equilibrium level of real GDP and the price level, and on the unemployment rate in the economy.
RATIONALE
This assessment task will assess the following learning outcome/s:
- Be able to apply demand and supply analysis to make a range of market related decisions.
- Be able to make decisions that incorporate the relevant benefits and cost analysis.
- Be able to explain and defend why it is important to understand the structure of the market.
- Be able to critically examine and demonstrate why it might be necessary for government to intervene in the production of goods and services and in the distribution of income.
- Be able to examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives.
This assignment provides an opportunity for you
- To demonstrate that you are familiar with the use of the model of supply and demand, the concepts of costs and benefits, the importance of market structure and the role of government intervention.
- To present a detailed analysis of some of the factors that give rise to government intervention in the market through the application of your knowledge of theory supported by evidence drawn from sources of you’re choosing.
PRESENTATION
Answers should be typed (font size-12, spacing – 1.5, font family-time new roman) and diagrams must be clear and neat and preferably drawn electronically. Hand-drawn diagrams are acceptable. Sources used in your answer should be fully referenced in Harvard style.
REQUIREMENTS
Sources used in your answer should be fully referenced in Harvard style. Assignments must be submitted through Turnitin.
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