MACRO1 (ECON1010) Assignment 1 宏观经济学 代写
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MACRO1 (ECON1010) Assignment 1 宏观经济学 代写
Macro1 (ECON1010), 1sem 2017
MACRO1 (ECON1010) Assignment 1
(Chapter 28, 26&27)
Submit online at the ‘Assessment Task’ in Blackboard
Due: 11:59PM on 23 April (Sunday)
T u t o r i a l T i m e a n d D a y :
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S t u d e n t N a m e :
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S t u d e n t I D :
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This assignment covers the following topics:
•
Unemployment (Chapter 28)
•
Productivity and Growth (Chapter 26)
•
Saving, Investment and Financial System (Chapter 27)
READ THE FOLLOWING FIRST (Very Important)
1. This assignment contributes to 20% of the overall marks for the course.
2. Only a single submission permitted (hence, please ensure to attach the file version of the assignment)
3.Use and Submit this template only for your submission (i.e., write down
your answers in the space provided in each question and submit) – any other form of the file is NOT
accepted (Failing to do so will automatically mean zero mark for this task).
4. If you do not have a word processor installed in your home computer, follow this link and in
“APPS” you can use a Microsoft word processor; http://www1.rmit.edu.au/students/mydesktop
5. The recommended browsers when uploading the file are Chrome, Firefox or Explorer (some have
suggested that Safari might not work well).
6. The font size has to be at least 12.
7. Explain your answers, but be succinct.
8. Label each axis and explain the diagram that you use carefully (if any).
9. Show all of your working in order to get partial credits.
10.After the due date any late submission will be marked as ‘late’. A penalty of 10% of the allocated marks
(i.e., 2 marks) per day will apply for late submissions.
11.A failure of your home computer (or any kind of the IT problem) cannot be a reason for the late
submission (all requests for an extension of this nature will be rejected immediately).
12.Make sure you have included your student ID and name in the front page of the assignment
13.Working with other fellow students is strongly encouraged. However, you cannot just copy your friend’s
answers. If we find out this, you will be harshly punished for the academic plagiarism. See ‘students
responsibilities’ at RMIT’s policy on this:
14.http://www1.rmit.edu.au/browse;ID=sg4yfqzod48g1
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Macro1 (ECON1010), 1sem 2017
Short Answer Questions:
1. Compute various indicators of the state of the labour market using the following information. Please show all
of your working. If you do not, you will receive zero marks for the question(s).
a)(1 mark) What is the size of the labour force in this economy?
b)(1 mark) Calculate the Labour Force Participation Rate for this economy. Report as a percentage to two
decimal places.
c)(1 mark) Calculate the Unemployment Rate for this economy. Report as a percentage to two decimal
places.
MACRO1 (ECON1010) Assignment 1 宏观经济学 代写
d)(1 mark) Suppose that the natural rate of unemployment is considered to be 5%. What is the rate of cyclical
unemployment? Report as a percentage to two decimal places.
Demographic Group Number of Residents
Full-time workers 7,000
Part-time workers 2,000
Unemployed and looking for work 600
Unemployed and not looking for work due to
discouragement over job prospects
500
Not working due to disability 300
Not working due to retirement 900
Under the age of 15 3,000
Total Population 14,300
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Macro1 (ECON1010), 1sem 2017
2. Analyse the effects of the following events using the loanable fund market diagram where we have (real)
interest rate on the vertical axis and the quantity of loanable fund on the horizontal axis. Please ensure to
explain what happens to saving, investment and (real) interest rate.
a)Consumers decide to save more to prepare themselves for the future (at any given interest rate). Assume the
government budget balance is zero. (3 marks).
Answer here (Tips: to create new lines, simply copy the existing curves and move to the new location)
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E1
Quantity of Loanable
Funds (Q) Q1
Supply 1
Real Interest
Rate (r)
r1
Demand 1
Macro1 (ECON1010), 1sem 2017
b)A reduction of income tax rate by noting that the source of the supply of loanable funds coming from both
private as well as public saving (3 marks)
Answer here (Tips: to create new lines, simply copy the existing curves and move to the new location)
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E1
Quantity of Loanable
Funds (Q) Q1
Supply 1
Real Interest
Rate (r)
r1
Demand 1
Macro1 (ECON1010), 1sem 2017
3.Watch the 10 minute video at www.gapminder.org/videos/what-stops-population-growth
Summarize the video in minimum of 5 sentences (Not in the bullet points, please!). What were the
most interesting or surprising facts you learned? (3 marks)
(Answer)
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Macro1 (ECON1010), 1sem 2017
4.Over the next 100 years real GDP per capita in Neverland is expected to grow at an average annual
rate of 2.0%. Gotham (yes, where Batman lives!) is expected to growth at an average annual rate of
1.5%. If both have a real GDP per capita today of $20,000, compare their real GDP per-capita in 100
years. Please show all of your working. If you do not, you will receive zero marks for the
question(s). (2 marks)
(Answer)
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Macro1 (ECON1010), 1sem 2017
5.The level of government debt is a growing concern for the current Australian Treasurer who has the
responsibility of managing the government budget. Summarise the key arguments on the debate
around Australian government debt and deficit for the Turnbull government.
Your summary must address the following; what is the major concern of running government
deficits, what is the economic reasoning to have a balanced budget and when might a budget deficit/
surplus be ok? Conclude by briefly discussing what policies you would suggest to Scott Morrison
implements in order to balance the budget and why. The summary should be at least half a page in
length (again, please do not write in the form of the bullet points). No need to list the reference,
but please do not copy and paste from whatever you found on the web. We can easily detect this in
our system! (5 marks)
(Answer)
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MACRO1 (ECON1010) Assignment 1 宏观经济学 代写
