ECM1953 Thought of Economics Group Assignment 2 2026 | Monash College
ECM1953 Group Assignment
| Unit Title | Thought of Economics |
|---|---|
| Unit Code | ECM1953 |
| Assignment Title | Group Assignment |
| Assignment Number/Reference | 2 |
Discovering out Outcomes
This project assesses the next studying outcomes:
| Discovering out Final result Number | Discovering out Final result Description |
|---|---|
| 1 | Analyze the causes of shifts within the depend on of and/or provide, and their outcomes on market prices and portions |
| 2 | Analyze the commerce restriction the exhaust of depend on of-provide framework (microeconomic diagnosis) |
| 3 | Analyze the short-scramble affect of commerce restriction the exhaust of combination depend on of-combination provide model |
| 4 | Analyze the lengthy-scramble affect of climate change the exhaust of combination depend on of-combination provide model |
| 5 | Analyze the macroeconomic protection |
Weighting
This project is payment 30% of your overall grade for this unit. Please peek the project rubric for the weightings of every review criterion.
Necessities
This project has the next necessities:
| Assignment Form | Slight Group Survey crucial factors below regarding group formation. |
|---|---|
| Response Structure | Essay |
| Response Specs | Essay: 2000 phrases Display observe depend on the finish of essay (essentially based fully on +/- 10%) |
| Submission Project | Online (Moodle) with the next attachments (one member submits on behalf of the group): |
Submission Attachments
- Assignment coversheet of every group member one by one in PDF layout (e.g., in a gaggle of three, please put up three coversheets. As soon as more, the member accountable of submission submits all three coversheets).
- Written essay in PDF layout (Turnitin myth will be routinely generated).
- Ogle review myth (in PDF layout).
Notes
- Slack submission: 10% of the total worth allocated to this review will be deducted for every day (inclusive of Saturday and Sunday) that the project is gradual.
- I reserve the correct to change the person marks.
Assignment Instructions
Summer season 2023 sees multiple global temperature files broken. Sadly, scientists warn that this weather pattern due to climate change is going to persist within the lengthy scramble. The media all around the enviornment shows the rising wretchedness about the food safety possibility due to the multiple heatwaves. Namely, many worldwide locations, e.g., the U.S. and China, reported a decrease yield in chop production and fruit production.
Within the most fresh action to protect nationwide welfare, India’s authorities imposed an export ban on non-basmati white rice on 20 July 2023, effective directly. It’s identified that Malaysia extremely relies upon on rice imports from India.
Statistics:
https://oec.world/en/profile/bilateral-product/rice/reporter/mys
(Stare that Malaysia also exports rice nonetheless the export mark is drastically smaller than the import mark, so non-public Malaysia is an importer of rice (no exporting)).
Invent a gaggle of 2–3 participants. Assume that your group is employed by the Malaysian authorities to urgently review the wretchedness. You are required to give a myth to the prime minister to envision the create of this export ban and suggest a apply-up action to mitigate the affect (if any). You ought to catch both a microeconomic and macroeconomic diagnosis.
Questions
a. Analyze how the export ban has affected the enviornment market of the non-basmati white rice and the Malaysian market of the non-basmati white rice.
b. Analyze the create of the export ban on the Malaysian economy overall within the short-scramble. Analyze the lengthy-scramble affect of climate change on advise and inflation if no action to address climate change is made.
c. What actions could furthermore the authorities rob to address the short-scramble impacts identified in segment (b)?
Your myth ought to apply the next construction
I. Title Online page
- Give a title to your essay.
- Focus on about with the pattern APA pupil title page.
II. Table of Contents
- Encompass page numbers.
III. Introduction
IV. Impact of the Export Ban on the Market of Non-Basmati White Rice
The usage of the depend on of and provide framework to expose the affect of the export ban on the enviornment market of the non-basmati white rice
- Analyze the market equilibrium and dynamic changes.
- Use proper-world proof to give a boost to the diagnosis.
The usage of the depend on of and provide framework to expose the affect of the export ban on the Malaysian market of the non-basmati white rice
Assume Malaysia is a cramped country within the enviornment non-basmati white rice market.
Hint: This segment ought to be linked to the previous diagnosis of the enviornment market.
- Analyze the market waste result.
- Use proper-world proof to give a boost to the diagnosis.
V. Impact of the Export Ban on the Total Malaysian Economic system within the Short-Speed
The usage of the AD-AS model, expose the short-scramble affect of the export ban on the final Malaysian economy
- Elements affecting the mix depend on of (and/or) combination provide.
- Analyze the equilibrium and dynamic changes.
VI. Impact of Climate Exchange on the Malaysian Economic system within the Long Speed
The usage of the AD-AS model, expose the lengthy-scramble affect of climate change on the final Malaysian economy
- Elements affecting the mix depend on of (and/or) combination provide.
- Analyze the equilibrium and dynamic changes.
VII. Executive Actions to Handle the Impacts of Export Ban
- Counsel one macro-protection to address the outcomes.
- Focus on about the aptitude affect of these actions in your total economy.
VIII. Conclusion
- Summarize key findings and insights.
- Counsel areas for extra research or protection ideas.
IX. Reference Checklist
- APA vogue referencing.
X. Appendix
Diagrams
(Utility of theories realized is the predominant – now not counting in direction of the final observe limits.)
- Encompass all diagrams weak for the duration of the essay.
- Present detailed explanations of every plot:
- Dynamic adjustment from one equilibrium to any other.
- Diversified linked diagrams and their explanations.
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