Summative Assignment 4
ECON1012 Principles of Economics Semester 1 2023
Course Learning Outcomes: 1, 2, 3, 4 & 5
Topic of Primary Focus: GDP, Unemployment and Inflation
Refer to the most recent Labour Force Survey data:
https://www.abs.gov.au/statistics/labour/employment-and-unemployment/labour-force-
australia/latest-release
Depending on when you do this assignment, it will either be for the month of March 2023
(published on 13/04/2023) or for the month of April (due for release on 18/05/2023).
In particular, refer to the Key Statistics dot-points and table at the top of these pages for the key
information.
Task:
Briefly summarise in your own words the unemployment rate and related figures for the selected
month.
Explain how expected increases in net migration and the Jobseeker payment might affect the labour
force, employment and the unemployment rate.
Note: You might also find sources such as the following helpful for context but note that the Budget
will be released on Tuesday May 9th so more updated news about migration figures JobSeeker is
likely to be available. You don’t necessarily need to use these sources, they are provided so that you
can learn a little about the drivers of Australian net migration and what JobSeeker is:
• https://theconversation.com/whats-behind-the-recent-surge-in-australias-net-migration-
and-will-it-last-203155
• https://www.servicesaustralia.gov.au/jobseeker-payment
• https://www.theguardian.com/australia-news/2023/may/04/jobseeker-what-we-know-
ahead-of-the-budget-who-will-benefit-and-who-wont
Format:
The format of your response should be a short explanatory discussion, perhaps for a student
newsletter.
You do not need subheadings or subsections.
You do not need to spend as much attention on formal essay structure as you might for a persuasive
or research-based essay. Instead you should focus on communicating your ideas in a clear and
concise manner and making sure there is a logical flow of ideas and explanation.
Word Limit:
800 words (excluding diagrams and references)
Diagrams:
Unlike previous weeks, this task does not necessarily require diagrams. However you
may choose to use diagrams if you wish.
If you wish to include other diagrams, tables, or figures from sources such as the ABS,
make sure that you include an appropriate reference.
Referencing:
This is not a research assignment. So you do not necessarily need to find other references. You
should answer the question based on what you have learned in the course and the excerpt provided.
However, it is important that if you do take content directly from other sources including course
materials, both quoting and paraphrasing, that you appropriately reference to show what is your
own original thoughts and what ideas you have borrowed from others. Please refer to the
https://www.adelaide.edu.au/writingcentre/resources/avoiding-plagiarism for further guidance and
links regarding referencing, plagiarism, and academic integrity.
Where referencing is used, it can be in any standard style, so long as it is consistent. The Harvard
referencing style is preferred, as it is the standard in Economics and is also common in Business
disciplines. https://www.adelaide.edu.au/writingcentre/resources/referencing-guides
All submissions will be analysed with the assistance of Turnitin, checking for plagiarism against other
students in the class and external sources.
Submission and Feedback
Students must submit the assignment by the due date via the electronic submission portal on MyUni
(the same page you downloaded this pdf!). https://community.canvaslms.com/t5/Student-
Guide/How-do-I-upload-a-file-as-an- assignment-submission-in-Canvas/ta-p/274
It is students’ responsibility to ensure that it is correctly submitted by the due date. Make sure that
you see and check that is says ‘Submitted’.
Late submissions will generally *not* be accepted at all. Not even one minute late. This might seem
more strict than some of your other classes, but do keep in mind that we also have a ‘best 4 of 5’
policy on the Summative Assignments. If you have a medical or other circumstance that you believe
may allow an extension, please email the course coordinator as soon as practical, and generally this
must be before the due date has passed.
Assignments will be graded, with grades and feedback provided within MyUni approximately one
week after the submission due date.
Grading
The assignment will be graded against the Assessment Criteria in the Rubric attached to the MyUni
Assignment and detailed below.
Grades will be allocated in-line with the University’s grade descriptors.
Score (%) Grade General Description
0-49 F Fails to satisfy the minimum requirements
50-64 P Satisfies the minimum requirements
65-74 C Demonstrates a high level of understanding and presentation and a
degree of originality and insight
75-84 D A very high standard of work which demonstrates originality and
insight
85-100 HD Outstanding or exceptional work in terms of understanding,
interpretation and presentation
Your grade is not matter of where you ‘lost marks’, but rather the evaluation of what you have
presented against the standards and the criteria.
Assessment Criteria Marks (25)
Evidence is shown of understanding of all relevant economic concepts and
terminology, which are correctly applied throughout
5
Real world situation is clearly and correctly described and related to relevant
economic concepts, including with appropriate terminology
7
Economic information sourced from tables and other data presentations is
correctly interpreted
5
Analysis presented provides a logical and well-structured explanation of changes
to real world outcomes
5
Appropriate writing style, word count and referencing (where relevant) 3