ECON6000 Economic Principles & Decision Making

Assessment 3: Report
Page 1 of 5

ASSESSMENT BRIEF
Subject CodeandTitle	ECON6000 Economic Principles& DecisionMaking
Assessment	Assessment3:Report
Individual/Group	Individual
Length	Upto3000words
Learning Outcomes	1. Interpret and successfully apply economic concepts of supplyanddemandforeffectiveorganisationalproblem solving. 2. Applyquantitativemethodstoforecastcomplexbusiness variablesincludingdemand,supply,productionandcosts. 3. Criticallyanalyseproductionprocessesandcostfunctions andclassifythemainformsofmarketstructuresaswellas recommendappropriatepricingandstrategies. 4. Criticallyevaluatetheroleandimpactofvariousformsof government intervention in the economy including the implications of competition and deregulation policy for managerialpractices.
Submission	By 11:59 PM AEST/AEDTFriday attheendofModule 6
Weighting	40%
TotalMarks	40 marks

Context:
This assessment allows you to apply your knowledge on the concepts and ideas discussed
during the Modules. This assessment draws on your work for assessment 2.
Assessment 3: Report
Page 2 of 5
Instructions:
Schmeckt Gut plans the market launch for the Schmeckt Besser energy bar in Atollia within the next
couple of months. The Research Department of Schmeckt Gut has conducted a market analysis of
Atollia. The results are provided for you in the supplied EXCEL file.
Based on international sources, the Research Department is comfortable in working with the
following scenarios on the future development of average income in Atollia, the inflation rate
development and tariff rates on imports from Industria:
– Income growth: 1% increase or 3% increase or 5% increase or 7% increase
– Inflation rate development: 2% increase or 3% increase or 4% increase or 5% increase
– Tariffs on imports from Industria: 7.5% or 10% or 5% or free trade
Note: These developments are not necessarily matched to each other in the sequence shown above;
meaning that we do not know if the 1% increase in income is associated with a 2% increase in
inflation rate and a 7.5% tariff rate.
Your task:
Your task is to write a 3,000-word report addressed to the Board of Directors of Schmeckt Gut in
which you address the following:
– Do you think you can match the different projections? That is, do you think that a 5%
increase in income is associated with a 10% tariff rate and a 2% inflation rate? Explain by
linking your discussion to the following concepts:
o supply and demand
o aggregated demand and aggregated supply
o the Philipps Curve, and
o the Laffer curve.
– What impact would the different predictions of income development, inflation rate
development and tariff rate development have on the potential demand of Schmeckt Gut?
Conduct a multiple regression analysis using data in the supplied Excel file and then interpret
the results. Fully discuss and explain their implications.
– Make recommendations as to what the Board of Directors should do under each of your
scenarios, based on your matching of the predictions.
The precise format of the report will be informed by research undertaken by the student using the
Torrens University library. Formal document sections such as executive summary, table of contents
and appendices are not counted in the word count. Assume that the prescribed word limit is literally
a limit and that the board will reject any report that breaches it.
ECON6000 Assessment 2 brief Page 3 of 5
Learning Rubrics

Assessment Attributes	Fail 0-49 (Unacceptable)	Pass 50- 65 (Functional)	Credit 66-75 (Proficient)	Distinction 76-85 (Advanced)	HighDistinction 86-100 (Exceptional)
GradeDescription (GradingScheme)	Evidence ofunsatisfactory achievementofoneormore ofthelearningobjectivesof thecourse,insufficient understandingofthecourse contentand/orunsatisfactory level ofskill development.	Evidenceofsatisfactory achievementofcourselearning objectives,thedevelopmentof relevantskillstoacompetent level,andadequate interpretationandcritical analysisskills.	Evidenceofagoodlevelof understanding,knowledge andskilldevelopmentin relationtothecontentofthe courseorworkofasuperior qualityonthemajorityofthe learningobjectivesofthe course.Demonstrationofa highlevelofinterpretation andcriticalanalysisskills.	Evidenceofahighlevelof achievementofthe learningobjectivesofthe coursedemonstratedin suchareasas interpretationandcritical analysis,logical argument,useof methodologyand communicationskills.	Evidenceofan exceptionallevelof achievementoflearning objectivesacrossthe entirecontentofthe coursedemonstratedin suchareasas interpretationand criticalanalysis,logical argument,creativity, originality,useof methodologyand communicationskills.
Knowledgeand Understandingof economicconcepts ofsupplyand demand 25%	Limitedunderstandingof requiredconceptsand knowledge Keycomponentsofthe assignmentarenot addressed.	Knowledgeorunderstandingof thefieldordiscipline. Resemblesarecallorsummary ofkeyideas. Oftenconflates/confuses assertionofpersonalopinion withinformationsubstantiated byevidencefromthe research/coursematerials.	Thoroughknowledgeor understandingofthefieldor discipline/s.Supports personalopinionand informationsubstantiatedby evidencefromthe research/coursematerials. Demonstratesacapacityto explain andapplyrelevant concepts.	Highlydeveloped understandingofthefield ordiscipline/s. Discriminatesbetween assertionofpersonal opinionandinformation substantiatedbyrobust evidencefromthe research/course materialsandextended reading. Welldemonstrated capacitytoexplainand applyrelevantconcepts.	Asophisticated understandingofthe fieldordiscipline/s. Systematicallyand criticallydiscriminates betweenassertionof personalopinionand information substantiatedbyrobust evidencefromthe research/course materialsandextended reading. Masteryofconcepts andapplicationtonew

ECON6000 Assessment 2 brief Page 4 of 5

situations/further learning.
Criticalreasoning, presentationand defenceofan argumentand/or position in contextof organisational problemsolving 25%	Specificposition(perspective orargument)failstotakeinto accountthecomplexitiesof theissue(s)orscopeofthe assignment. Makesassertionsthatarenot justified.	Specificposition(perspectiveor argument)beginstotakeinto accounttheissue(s)orscopeof theassignment. Justifiesanyconclusions reachedwithargumentsnot merelyassertion.	Specificposition(perspective orargument)takesinto accountthecomplexitiesof theissue(s)orscopeofthe assignment.Others’pointsof viewareacknowledged. Justifiesanyconclusions reachedwithwell-formed argumentsnotmerely assertion.	Specificposition (perspectiveor argument)isexpertly presentedandaccurately takesintoaccountthe complexitiesofthe issue(s)andscopeofthe assignment. Justifiesanyconclusions reachedwithwell developedarguments.	Specificposition (perspectiveor argument)ispresented expertly,authoritatively andimaginatively, accuratelytakinginto accountthe complexitiesofthe issue(s)andscopeof theassignment.Limits ofpositionare acknowledged. Justifiesanyconclusions reachedwith sophisticated arguments.
Analysisand applicationwith synthesisofnew knowledge related toeconomic conceptsofsupply anddemand 30%	Limitedsynthesisand analysis. Limited application/recommendations baseduponanalysis.	Demonstratedanalysisand synthesisofnewknowledge withapplication. Showstheabilitytointerpret relevantinformationand literature.	Well-developedanalysisand synthesiswithapplicationof recommendationslinkedto analysis/synthesis.	Thoroughlydeveloped andcreativeanalysisand synthesiswithapplication ofpretestedmodelsand/ orindependently developedmodelsand justified recommendationslinked toanalysis/synthesis	Highlysophisticated andcreativeanalysis, synthesisofnewwith existingknowledge. Strongapplicationby wayofpretested modelsand/or independently developedmodels. Recommendationsare clearlyjustifiedbased onthe analysis/synthesis.

ECON6000 Assessment 2 brief Page 5 of 5

Applyingknowledgeto newsituations/other cases.
Content,Audience andPurpose 20 %	Demonstratesnoawareness ofcontextand/orpurposeof theassignment.	Demonstrateslimited awarenessofcontextand/or purposeoftheassignment	Demonstratesconsistent awarenessofcontextand/or purposeoftheassignment.	Demonstratesan advancedandintegrated understandingofcontext and/orpurposeofthe assignment.	Consistently demonstratesa systematicandcritical understandingof context andpurposeof theassignment.

 

• • Assignment status: Resolved by our Writing Team

CLICK HERE TO ORDER 100% ORIGINAL PAPERS AT PrimeWritersBay.com GET THIS PAPER COMPLETED FOR YOU FROM THE WRITING EXPERTS  NO PLAGIARISM