Econmic APPLIED WRITING assignment 代写

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 Econmic APPLIED WRITING assignment 代写



ASSESSMENT 2 APPLIED WRITING
 

	Weighting	25%
	Word limit	1000 words in total (including, diagrams, references and all text)
	Total marks	25
	Due Date	Sunday 9th April 2017 11.00 pm
	Submission	Course Website only
	Extension	Maximum 7 days
	Late Penalty	10% per calendar day
	Topics Assessed	2,3 and 4
	Reference1	UniSA Harvard Style <Click here for the link>
	AIMS

 
The purpose of this task is to demonstrate your understanding of the economic concepts and models you have learned in the course so far by relating them to a real world scenario.
 
COURSE OBJECTIVES

These course objectives are covered by the assignment.
 
CO1. Describe and utilise the fundamental tools, methods and language of economics to analyse resource allocation issues
 
CO3. Describe the impact of incentives and use economic models to illustrate how agents and economies respond to incentives
 
CO4. Identify the limitations of the market mechanism and analyse the role of government in affecting markets and decision-making in the general economy
 
TASK DESCRIPTION

Read the article written by Dave Goodyear “the future of chocolate: why cocoa production is at risk” published in The Guardian on 13 October 2016. Answer the three questions, which follow the article using economic models where appropriate.
 
Follow this framework for each answer:
 
1.  Identify the key issue in the questions provided.
 
2.  Analyse these key issues in the news article, within the context of the concepts discussed in the lectures and textbook.
 
3.  Use the appropriate economic model to illustrate the key issues graphically.
 
4.  Explain the model and discuss the outcome.
 
5.  Provide the list of references used in answering the questions.

 
 
 
 
 
 
 
¹ Failure to cite properly is evidence of academic misconduct, and will result in marks being deducted.

 
ASSIGNMENT ADVICE

An annotated example assignment answer is provided from one of the previous assignment used in this course.
 
Question 1. Assuming beef is sold in a purely competitive market, use the supply and demand diagram to describe, ceteris paribus, a major factor contributing to the price of beef to rise in Australia. In your discussion make sure to explain the process of moving to the new equilibrium output and price.
 
– Sample answer:

 
The newspaper article briefly explains why there has been a significant decrease in the beef supply. Land is one of the factors of production, and in this instance, the farmers were not able to keep large numbers of cattle due to dry weather conditions. The farmers’ productivity decreased and resulted in decrease of the beef supply. This is illustrated in the graph below (Figure 1) – original supply curve S₀ shifted leftward to S₁. The market is efficient at the market equilibrium - a point where ‘the quantity demanded equals the quantity supplied’ (Parkin & Bade 2016, p. 100). Here we can see that a change in supply caused an imbalance between demand and supply of beef where quantity supplied is less than quantity demanded. The beef market has been disturbed and this resulted in a shortage – ‘the amount by which the quantity demanded exceeds quantity supplied’ (Parkin & Bade 2016, p. 100).
 
The market needs to be restored to its equilibrium and this is achieved by market forces. The law of market forces states that ‘when there is a surplus, the price falls; and when there is a shortage, the price rises’ (Parkin & Bade
 
2016, p. 100). Therefore, price plays a significant role as an automatic regulator in a market. Even if there was no change in demand, the buyers now need to pay a higher price for beef than before, which will decrease the quantity demanded. The law of demand states that ”other things remaining the same, if the price of a good rises, the quantity demanded of that good decreases; and if the price of a good falls, the quantity demanded of that good increases” (Parkin & Bade 2016, p. 85). For the beef market to be in balance again, it is necessary for the


 
Identify the problem(s) in the question provided

 
 
 
 
 
 
 
 
Analyse the key issues in the news article, within the context of the concepts discussed in the course materials

 
Illustrate the key issues graphically in an appropriate economic model.

 
Explain the model and

price to rise, which will result in less quantity demanded and bring the market back to equilibrium.

This decrease in

discuss the outcome.

quantity demanded is illustrated in the graph by a movement along the demand curve from Eq to NEq.

The

equilibrium quantity – the quantity bought and sold at the equilibrium price (Parkin & Bade 2016, p. 100) –

decreased.

Time also plays a large role in this market.

Even if the weather conditions in southern WA improve, it

will take some time before the farmers can increase their productivity due to the fact that young cattle need to be

left to mature. However, this will increase the supply of beef in the future and with more beef supplied will come

fall in the price. The equilibrium quantity will increase as supply curve will shift rightward.

 Econmic APPLIED WRITING assignment 代写

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1.

 
NEWS ARTICLE

 
The future of chocolate: why cocoa production is at risk
 
The Guardian
By: Dave Goodyear
 
Date: 13^th October 2016 https://www.theguardian.com/sustainable-business/fairtrade-partner-zone/chocolate-cocoa-production-risk
 
Demand for cocoa is predicted to rise by 30% by 2020 but without empowering and investing in small-scale farmers, the industry will struggle to provide sufficient supply.
 
Steady growth over the last hundred years has transformed the chocolate confectionary market into an $80bn (£63bn) a year global industry. But now, with demand forecast to outstrip supply, a crisis is looming for the industry.
 
Around 3.5m tonnes of cocoa are produced each year. But rising incomes in emerging markets like India and China, combined with anticipated economic recovery in the rich north, have led to industry forecasts of a 30% growth in demand to more than 4.5m tonnes by 2020. This should be good news for farmers and businesses alike. But complacency and disregard for the livelihoods of more than 5 million small-scale family farmers who grow 90% of the world’s cocoa mean that the industry may simply be unable to provide sufficient supply to meet the demand.
 
Cocoa prices are volatile and influenced by many factors – from extreme weather, pests and disease to speculation and political instability in producing countries. In 2000, oversupply of beans saw prices slump to a 27-year low of around $714 (£565) a tonne. Then prices rocketed to a 32-year high of $3,775 (£2,992) a tonne in 2011 amid fears of disruption to cocoa supplies following the failed coup in Ivory Coast, the world’s largest cocoa producer.
 
Even as cocoa prices rise, farmers have not been capturing their fair share. Growers in west Africa are likely to receive just 3.5% to 6.4% of the final value of a chocolate bar, depending on the percentage of cocoa content – a disastrous fall compared with 16% in the late 1980s. By contrast, the manufacturers’ share has increased from 56% to 70% and the retailers’ from 12% to 17% over the same period.
 
Low prices paid to farmers result in low productivity and poverty in farming communities. Farmers use out-dated farming methods and lack resources to invest in fertilisers or in replacing ageing trees past their peak productivity. Cocoa growers are typically illiterate subsistence farmers who grow cocoa alongside staple food crops to provide the main cash income to pay school fees, medical bills and other household necessities. Their communities have poor education and healthcare services and lack electricity and decent sanitation, with water only available from communal wells.
 
As prices of food and other costs rise, the failure to capture sufficient value from their crop means that many cocoa farmers are abandoning the industry. Many of their children see no future in cocoa and are switching to more profitable rubber production or heading for the cities in the hope of finding a better livelihood. As a result, the average age of cocoa farmers in west Africa is now 51, leading to serious concerns across the industry about the long-term sustainability of the supply chain: no cocoa farmers = no chocolate bar.

QUESTIONS

 
Q1. Using demand and supply model, with regards to the cocoa industry, discuss the statement, “with demand forecast to outstrip supply, a crisis is looming for the industry”.
 
Hint: Make sure you discuss the equilibrating process and the effect on price and quantity.
 
(7 marks)
 
Q2 (a). Using determinants of price elasticity of demand outline whether the demand for cocoa in the chocolate industry is price elastic or inelastic.
 
(3 marks)
 
Q2 (b). Based on your answer in part 2(a), explain and illustrate hypothetically, what should be the effect of the rising price of cocoa on the total revenue of the cocoa wholesale market.
 
(4 marks)
 
Q3. Considering the fact that many cocoa farmers are abandoning the industry, explain graphically, the different strategies that government should adopt to sustain the long-term supply of cocoa.
 
Hint: Make sure to discuss the advantages and disadvantages of the strategies you have mentioned.
 
(8 marks)
 
Your assignment will also be assessed on how effective you can communicate with the reader, i.e. how well you have presented your arguments and ensuring your analysis is logical and consistent. In addition, 3 marks will be awarded on writing including introduction, conclusion, grammar, referencing and formatting. Importantly, make sure you use appropriate diagrams in your analysis.

ASSESSMENT CRITEREA

Judging the quality of submitted material requires some judgment by academic staff. Rather than a simple formulaic approach, markers combine a number of elements to judge the quality of an assignment. In broad terms, assessment of your assignments will take into account:
 
1.  Relevance of your answer to the question (Did you answer the question?)
 
2.  Did you use a model and graphical representation to analyse the question?
 
3.  Clarity of expression (Is it written well?)
 
4.  Logical planning and sequence (Does the argument make sense?)
 
5.  Did you provide theoretical support for the arguments used?
 
6.  Was the question answered fully or only in part?
 
7.  Where appropriate, were sources properly cited and referenced?
 
8.      Overall presentation, including correct grammar, spelling and punctuation (Is the presentation of professional quality?)
 
For access to learning resources associated with assignment preparation see the learning hub located at: https://lo.unisa.edu.au/course/view.php?id=4074
 
 
REFERENCES AND PLAGARISM

You are expected to answer written questions in your own words. In written academic work you must acknowledge the source of your information (including set text books) but only those references that are actually used should be cited. You should use the Harvard referencing system. (see: https://lo.unisa.edu.au/course/view.php?id=3839 )
 
 
ACADEMIC INTEGRITY

The university is committed to academic integrity and has policies and procedures in place to ensure academic integrity. More information about Academic integrity (AI) can be found in the Assessment policies and procedures manual at: http://www.unisa.edu.au/policies/manual/ Or visit the AI Module website https://lo.unisa.edu.au/mod/book/view.php?id=252142 which explains in detail how students can work with integrity at the University.
 
ANY WORK CONTAINING WORK THAT HAS BEEN JUDGED TO CONTAIN PLAGIARISM WILL
 
SCORE ZERO MARKS; SERIOUS ACADEMIC MISCONDUCT MAY RESULT IN SUSPENSION FROM
 
THE UNIVERSITY.
 
 
ADDITIONAL INFORMATION

 
 
1.                  The word limit is 1000 (10% up or down)
 
2.                  Question-Answer format is acceptable
 
3.                   Answer each question separately
 
4.                   Write an introduction and conclusion.
 
5.                  Make sure to fully label diagrams; and clearly indicate changes you make to graphs.
 
6.                  Specify any assumptions you make and use clear, concise and coherent set of arguments in your discussion/analysis.
 
7.                  There is no need to provide actual data/numbers as this is a conceptual exercise.

 
8.                  Submit your assignment in Word file (PDF or other format is not acceptable).
 
9.                  Support your discussion with appropriate graphs.
 
10.              Hand-drawn graphs are accepted.
 
11.              You can make use of snipping tool to attach your hand drawn graphs to your word file.
 
12.              There are no resubmissions allowed.
 
13.              In case of requiring extension, you need apply only through extension link, provided on your learn online unit. It is important to provide a proper documentation for processing your request.
 
14.              Request for extension will not be acceptable after 7^th April 5:00pm.
 
15.              Assignments with approved extensions have to be submitted by 16^th April 11:00pm.
 
16.              In accordance with the Division of Business guidelines, assignments submitted late without permission from the course coordinator/s will attract a penalty of 10% of the total possible marks for the assignment per day for each day late, or part thereof, after the due date.
 
17.              There is no need for additional references; however, you can draw upon other references (but cite) in support of any particular arguments you make in your discussion.
 
18.              Need to provide references, using UniSA referencing guidelines only.