Posted: September 17th, 2017

Economic challenges faced by an economy

Assignment

1. Economic events occur around us every day. This assignment aims to provide
association between what you learn from economic models and concepts in class with
real-life events happening around you.

2. Search through newspapers or magazine for ONE article that is relevant to the
economic concepts and models learned in class. The copy of chosen article has to
be attached to your final report.

3. The articles should preferably be published in the last twelve months.

4. Summarise each article first. Analyse the article and identify linkage between the economic concepts you have learnt in class with the discussion in the article. Apply the economic models learnt to discuss the economic challenges faced by the economy concerned and to explain the rationale for the economic policy (ies) chosen by the government to overcome the challenges. You may use other news articles to supportyour discussion as well.

5. Where applicable, illustrate your discussion with diagrams and economic models to
enhance your discussion.

6. More marks will be awarded for reports, which provide more comprehensive,
balanced and in-depth analysis with adequate referencing to the economic
concepts and models.

7. The newspaper article will serve as the main focus of your analysed report. However,your discussion is not restricted to just the content of the article chosen. You are free to discuss on other relevant information (from other sources) which relate to the main economic event you have chosen. Do not rely on one source and do compare and contrast perspectives. For use of internet sources, you should note that there is no quality control over the information in the web. As far as possible, you should choose website established by authoritative institutions such as the World Bank or the respective countries’ government official websites. And avoid Wikipedia definitions!

This assignment is aimed at a number of competency elements, specifically:

• Researching in terms of searching for and evaluating newspaper or magazine articles that are suitable for this assignment.

• Analysis of the information presented in the article and how the event could be
explained using economic models.

• Assessing the suitability of the economic model to analyse the event and what are thelimitations of the model.

• Presentation in putting forward the information and analysis you have in a form, which is clear, accurate and easy to understand.

Additional assignments guidelines:

• The report should have a content page, and its main discussion shall be about 2,000 words.

• Assignments should be type-written using Times New Roman font style, 12-font size
and 1.5 line spacing. Please include page number.

• References are a key aspect of an essay. Any idea, theme, or argument that you found
in the literature and used in your essay must be cited within the essay.

• Include a reference List and bibliography at the end of your assignment.

• Please also attach the SafeAssign report (the page with the similarity percentage only).

• The report shall be in plain white paper and stapled on the top left-hand corner. Please do not use a folder for submission.

• Write your name clearly on the cover page using the Lecturer’s Comment Form.

• Course members should familiarise themselves with the University’s policy on the late
submission of coursework.

Tips for the assignment

Introduction

Summarise the macroeconomic event in the news article chosen and mention what you plan to discuss in the essay.

Apply the economics concepts and models (ASAD, Aggregate Expenditure Model, Money market diagram..etc) to show your understanding of the event.
Specifically, Focus on Key macroeconomic challenges faced by SG such as long-term economic growth (of potential GDP) problem etc.

-Causes of the problems

-Its impacts on the society and economy

-Policies implemented by the government concerned to solve the problem(aggregate labour hours, labour productivity, demand-side policies, supply-side policies)

-Draw the economic models to illustrate the discussion of the economic problem and the impacts of government policies.

-Conclusion highlighting key points and arguments in the essay.

 

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