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Monash MCD1690

MCD1690: Introductory Economics

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MCD1690: Introductory Economics
Trimester 3 2018

Assessment 1:

Status:

Individual/Group

Hurdle:

N/A

Weighting:

20%

Word limit:

N/A

Due date:

Part A: Week 5 / Part B: Week 7

Assignment description:

This assignment is in two parts; the first is an individual component and the second part is a group component. This assignment is worth 20% of your final mark for this unit.

In the second component students are expected to work in groups of 2 or 3 to complete this assignment. The aim of group assignments is to stimulate learning using task-based activities to encourage discussion and extension of ideas. You will be required to apply concepts you have learned in class.

Students will receive an individual mark for the first component and then each member of the group will be awarded the same mark for the second component, so it is imperative that each student plays his or her part. If a member does not contribute it is the group’s responsibility to negotiate a fair and acceptable outcome with each other. If this fails and the group member concerned still does not perform, please inform your tutor.

WARNING: Collusion, plagiarism and cheating:

Working together, discussing ideas or helping one another with references and searching for references is fine. However, the piece of work that you finally submit for assessment should be your own. It should contain your ideas and be written in your own words.

Plagiarism:

Plagiarism occurs when students fail to acknowledge ideas that have been borrowed. Specifically, it occurs when:

  • phrases and passages are used verbatim without quotation marks and without a reference to the author;
  • an author’s work is paraphrased and presented without a reference;
  • a person’s idea is used without acknowledgement eg adopting another person’s structure for an essay or framework for analysis
  • another student’s work is copied or partly copied;
  • other people’s designs and images are presented as the student‘s own work;
  • another person’s results are used without appropriate attribution;
  • items for assessment are written in conjunction with other students (without prior permission of the relevant staff member);
  • a piece of work has already been submitted for assessment in another unit.

It is accepted that students will assist each other with problems associated with their studies and discuss issues with each other. However, students must undertake all assigned work independently and students must not work in groups unless specifically requested to do so by the teacher.

Deliberate plagiarism is an attempt to obtain undeserved academic advantage and will be treated as cheating. Cases of deliberate plagiarism will be dealt with seriously. Students who are at all uncertain about what is required should consult their teacher.

Cheating:

Students should note that cheating or assisting to cheat is regarded as a very serious offence. Cheating means seeking to obtain an unfair advantage in an examination or in other written or practical work required to be submitted orcompleted by a student for assessment. Assisting to cheat means assisting a student with an examination or other written or practical work with the intention that the student will thereby obtain an unfair advantage.

Collusion:

Submission of substantially similar pieces of work is prima facie evidence of cheating. This does not mean that cheating is ‘deemed’ to have occurred and it does not reverse the onus of proof.

Substantial similarity of work can occur only if the students have:

  • copied each other
  • copied another student’s work
  • copied from another source such as a print/internet publication
  • reproduced their lecture notes

For further information on plagiarism, cheating and collusion, please refer to the Monash College Assessment Policy available at: http://www.monash.edu/monashcollege/regulations/#assessment

 

Gross Domestic Product 50 Marks
 

Part A: Individual Research questions: [25 marks]

IMPORTANT NOTE:

Create a team of 2 or 3 members. In your team, one member will choose a country that is regarded as an underdeveloped country, another member a developing country and the third member a developed country.

Answer the following questions and submit answers on a single sided paper, word processed with a cover sheet at the front.
 

  1. Find the annualreal GDP (constant US$)for the years 1996-2016 from the World Databank: WDI, (http://databank.worldbank.org/data/views/variableSelection/selectvariables.aspx?source=world-development-indicators)
     
    1. Present the data for Real GDP in a table and draw a well labelled graph.

A well labelled graph has a title, with clearly labelled axes. You also need to make sure that your graph has appropriate numbering.
 

  1. How is real GDP calculated? Explain the difference between Real GDP and nominal GDP and state which one is regarded as the best measurement of growth?

(4+4 = 8 marks)
 

  1. GDP growth rate:
  1. Calculate the GDP (real) growth rate (constant US$) using the data in the previous question. Show all your calculations for this question.
    Then draw a graph of the GDP growth rate for your country.

(2+2=4 marks)

  1. Describe the GDP growth rate (constant US$). This is done by writing about the significant peaks and troughs. It is important to include the relevant statistics in your writing.
    Alsodiscuss how your country is performing in relation to the rest of the world.

(4+2=6 marks)

  1. For your country find from the CIA Factbook the:
    1. main industries
    2. percentage composition of sectors ( agriculture, industry and services)
    3. main exports and imports
    4. ranking of GDP per capita compared to the rest of the world.

(4 marks)

  1. Include the data sources and a reference list. (use the Q Manual to help you)

Part B: Group Work [25 marks]

Your group will consist of 2 or 3 people who have collected data about the GDP, growth of GDP and in relation to 2 or 3 different countries:

  1. GDP per Capita (constant US$) and GDP growth rate
    1. State whether the countries are developed, developing or underdeveloped and explain your choices by using the following sources.
      Find the real GDP per capita of each country and present it in a table, from the same database (WDI), in the years 1996 to 2016. Describe the differences and level of GDP per capita of each country.

Use the information you found from the CIA Factbook in Part A, and information about your countries from other sources to describe the economy of your country and link it to its developmental status.

(1+3+4=8 marks)

  1. Draw a graph of the growth rates which includes all the countries on the one graph.
    Explain if the growth rate of your country corresponds to the rate you would expect from a developed, developing or underdeveloped country?

(2+1=3 marks)

  1. Collect data on eitherthe unemployment rate (modelled ILO estimate) orinflation rate (CPI) over the same time period.
  1. Present the data in a graph. Briefly compare the performance of your countries.

(3 marks)
 

  1. Include a reference list for your assignment

(1 mark)

  1. Poster - Create a poster depicting your chosen countries. Include the important current statistics and concepts that you discovered in the previous questions and any other interesting information.

(10 marks)

 

You will be assessed according to the following rubrics.

Q1 (a) State whether the countries are developed, developing or underdeveloped

Accurate statement of developed, developing and underdeveloped

Table of GDP per capita

Include table with no explanation

Include table with a some description of the various levels of GDP per capita

Include table with a detailed description of the various levels of GDP per capita

Description of economies

Briefly defines all the economies of all countries, with some understanding of how this relates to the developmental status

Accurately defines all the economies of all countries, with some understanding of how this relates to the developmental status

Accurately defines all the economies of all countries, with clear understanding of how this relates to the developmental status

Link to developmental status

Clear understanding

Q1 (b) Show the growth rate of your countries on a graph

No graph or very poor

Graph- accurate and well labelled.

Explanation of growth rate

Clear understanding that developing countries have high growth rates and developed low.

Expectation of growth rate for the 3 types of economies

Accurately describes the average growth rate for the 3 types of economies

briefly describes the average growth rate for the 3 types of economies

Q2 (a) Present the data in a table or a graph, with a description

Graph or table accurately drawn but no description

Graph or table, Accurate data with in adequate description.

Graph or table, Accurate data with brief description.

Graphics - Originality

None of the graphics were made by the student

The graphics are made by the student, but are based on the designs or ideas of others.

One or two of the graphics used on the poster reflect student creativity in their creation and/or display.

Several of the graphics used on the poster reflect an exceptional degree of student creativity in their creation and/or display

The poster is distractingly messy or very poorly designed. It is not attractive.

The poster is acceptably attractive though it may be a bit messy.

The poster is attractive in terms of design, layout and neatness.

The poster is exceptionally attractive in terms of design, layout, and neatness

Graphics - Relevance

All graphics relate to the topic. The meaning is not clear. Most borrowed graphics have a source citation

All graphics are related to the topic and clearly show the intended meaning. All borrowed graphics have a source citation

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