Assume you have been hired as an economic analyst by the government. In your role you are required to produce a state of the nation report for government ministers. This report must address each of the sections below. As this is a report, you must NOT paste the "questions/requirements" in the report - just include your answers and diagrams and present your assignment as a report.
As your assignment is expected to take the form of a report, it’s important that you consider how you will present your answers. For instance, simply stating a statistic or the name of an industry is inappropriate – you will need to be presented within the context of your report.
Students are to use the data in the Excel file provided to generate responses to questions in section 2. Answers and charts are to be in entered under the relevant section headings in the Assignment 1 (Part 1) Template (Word document) provided. Be sure to follow the instructions for each section - where you are required to produceONEchart/diagram for a section, you must only produce one - if you produce more than one chartyou will receive a zero markfor that rubric requirement.
Remember that you are producing a report for ministers in government therefore your writing and expression should be professional and succinct (these are very busy people). Your wording needs to be structured as a report not simply as an a answer to a question like in a test.
Also remember that bullet points should not be more than 50 words.Note:Bullet points that simply describe the chart generated are duplicating information that is clearly visible and will not earn any marks.
Be sure to observe word limit requirements and provide well-crafted answers that provide adequate information and explanation without being either too brief (insufficient detail) or too long (long winded).
Your answers must be provided under the 3 sections outlined in the Assignment 1 (Part 1) Template Word document and address each of the following components:
Section 1: 2021 Economic Outlook (5 marks total)
In this section, provide an outlook for the Australian economy for 2021 focusing on the nation's recovery from COVID-19. Things that you should include in your outlook are:
- An overview of the key industries within the Australian economy and a brief summary for each industry to show whether they have been impacted by COVID19 and if so how they have been impacted. Your answer should include reference to sources that support claims you make here.
- Provide a summary that identifies actions and policy responses taken by the government that aim at supporting the recovery of the Australian economy from COVID-19. Within your answer show evidence of how measures have been received by industry and/or any indications regarding their effectiveness.
State the word count for Section 1 at the end of Section 1 [300 word maximum - numbers and citations are excluded from the word count]
Remember to cite references where necessary and be sure to only use reputable sources. Do not quote full sentences or paragraphs - you can paraphrase where necessary but you must cite the sources of the information you use. (Plagiarism of any type will not be tolerated).
Section 2: Measuring Economic Activity (10 marks total)
In this section you will prepare charts and conduct analysis of a dataset to show evidence of changes in Australia's economic performance. In this section address the following:
- Using the employment data provided in the Assignment 1 Excel file, generateONEExcel chart showing Australia’s monthly unemployment rate over 2020. In your chart show the overall unemployment as well as the unemployment rate for both males and females. Make sure your chart has clearly labelled axes and include a chart title.
- Using the employment data contained within the Excel file, briefly analyse gender differences (and similarities) associated with the employment in 2020. In your answer discuss implications associated with impact of COVID-19 and relevant government assistance associated with Job Keeper.
- Using the chain volume measures of GDP data provided in the Assignment 1 Excel file, identify the 3 specific industries which in Q1 and Q2 of 2020 experienced the largest decreases in their growth rates and state their respective declines in the growth rate.
- Using the chain volume measures of GDP data provided in the Assignment 1 Excel file, identify the 3 specific industries which in Q3 and Q4 of 2020 experienced the largest increases in their growth rates and state their respective increases in the growth rate.
- Using the chain volume measure of GDP data provided in the Assignment 1 Excel file, generateONEpie chart to show the contributions that each of the key industrial sectors (A to S) contributed to Australia’s overall GDP in Q1 for 2021.
State the word count for Section 2 at the end of Section 2. [200 word maximum - numbers excluded from the word count]
Section 3: Recommendations (5 marks)
You now need to conclude your report with 2 recommendations. In light of what you have prepared in the earlier sections, provide 2 key recommendations for the government minsters who will be using your report. These two recommendations should be focused on what you think the government should be doing to aid the distinct but complimentary objectives of economic recovery from COVID-19 and long-term economic prosperity.
These need to be your recommendations based on your understanding of the situation, what you have prepared for the report and the data provided in the Excel document. These need to link to your recommendations.
State the word count at the end of the paragraph for this section answer.[300 word maximum - numbers excluded from the word count]