Assessment item 4
Short Response Discussion Topics
Value: 15%
Due date: 03-Feb-2018
Length: Max 1000 words
Submission method options
Alternative submission method
Task
1. Using an appropriate example, explain how government intervention in the market may be used to counter a negative externality in production in that market.
2. Using an appropriate example, explain how government intervention in the market may be used to counter a negative externality in consumption in that market.
3. Using an appropriate example, explain how government intervention in a market may be used to enhance the efficiency of the market when positive externalities exist in production.
4. Using an appropriate example, explain how government intervention in a market may be used to enhance the efficiency of the market when positive externalities exist in consumption.
5. Explain why a stable economic equilibrium requires the economy to be operating at an output level at which aggregate demand curve, the long run aggregate supply curve and the short run aggregate supply curve all intersect.
6. Explain the automatic adjustment mechanism of the economy to an economic expansion above potential GDP.
7. Explain the automatic adjustment mechanism of the economy to an economic contraction below potential GDP.
8. Explain the reaction of the economy to a supply side shock
9. Explain why a reduction in export expenditure might result in the economy temporarily operating at less than potential GDP. Explain why this is temporary. If the government considers that operating at less than potential GDP – even for a short period – is unacceptable, explain how government policy might be used to move the economy to potential GDP.
10. Explain why an increase in export expenditure might temporarily result in the economy operating above potential GDP. Explain why this is temporary. If the government considers that the level of inflation associated with the adjustment of the economy back to potential GDP is too high, how might it act to moderate the outcome?
11. Using an appropriate diagram explain why the consumers resident in a country benefit from international trade with other countries.
12. Using an appropriate diagram explain why consumers in a country are disadvantaged by the imposition of tariffs or import quotas.
13. Using an appropriate diagram, explain a fall in the exchange rate and explain what might bring this about.
14. Using an appropriate diagram, explain a rise in the exchange rate and explain what might bring this about.
15. Explain why fiscal policy is weaker in an open economy with a floating exchange rate.
16. Explain why monetary policy is stronger in an open economy with a floating exchange rate.
17. Explain why monetary policy is emasculated in an open economy with a fixed exchange rate.
Online submission via Turnitin is required for this assignment. Details will be provided by your subject lecturer.
Rationale
This assignment has been designed to:
• Provide a digrams for each answer
Marking criteria
Criteria High Distinction
(12.75 - 15.0) Distinction
(12.7 - 11.25) Credit
(11.2 - 9.75) Pass
(9.7 - 7.5 ) Fail
(0 - 7.45)
Contributions
to Forum
Discussions
(15 marks) Posted 4 blogs across both topics in a meaningful way. Your BLOG postings display a thorough understanding of the required readings and underlying concepts including correct use of terminology. Postings integrate multiple readings, or relevant research, to support important points. Challenging assertions and explaining concepts. Postings are well-written and free of errors. Sufficient references cited. Correct use of APA6. Posted 4 blogs across both topics in a meaningful way. Your BLOG postings display a good understanding of the required readings and underlying concepts. Postings use evidence to support important
points and are carefully written. Sufficient references cited, with correct use of APA6. Posted 4 blogs across both topics in a meaningful
way. Some postings lacked depth and detail, and may contain minor errors. Sufficient references cited, APA6 used with occasional errors. Contributed at least 3 relevant blogs across both topics. Comments lacked depth and detail, and may contain significant errors. Insufficient references cited. APA6 used with some errors. Minimal, irrelevant, or no contributions to BLOG postings. Few or no references
cited. Incorrect APA6.
Presentation
For the written submission to Turnitin (word.docx):
• Use headings that reflect each blog question, followed by your response.
• Put the reference list, in APA6, at the end of the assignment.
• Use a title page with your name, student number, subject name and number and assignment name.
• Submit as a word document.
Please use academic communication, including in-text references (although these are not included in the word count).
Requirements
For this assessment you are required to use APA6 referencing to acknowledge the sources that you have used in preparing your assessment. Please refer to the CSU referencing guide http://student.csu.edu.au/study/referencing-at-csu. In addition a very useful tool for you to use that demonstrates how to correctly use in text referencing and the correct way to cite the reference in your reference list can be found at https://apps.csu.edu.au/reftool/apa-6
This assignment must be submitted through Turnitin.
It is recommended that your name, student ID and page number are included in the header or footer of every page of the assignment.
Further details about submission in Turnitin are provided in On-line submission.