Describe the Job Keeper and Job Seeker Programs - Economics Assignment Help

Assignment Task:

Task:

Question 1 (Total 10 marks) 
(a) Describe the Job Keeper and Job Seeker programs implemented by the Australian federal government to mitigate the consequences of lockdown restrictions due to COVID-19 on the labour market. 
(b) Using data from the Australian Bureau of Statistics (ABS) (http://www.abs.gov.au/) collect monthly data on the unemployment rate and hours worked from January 2019 until the most recently available monthly data. Employ seasonally adjusted data for all persons. Cite the employed ABS publication, table numbers and series id. Plot the unemployment rate and hours worked monthly data against time. Comment on reasons for the time series movements in these data. 
(c) Discuss the relative merits of using: i) unemployment rate or ii) hours worked data; to describe the impact of lockdown restrictions due to COVID-19 on the labour market given the operation of the Job Keeper and Job Seeker programs. 
Question 2 (Total 10 marks) 
Employ the aggregate demand and supply model to analyse the consequences for real GDP and the general price level of the following scenarios for the Australian economy. Evaluate these scenarios assuming: i) the economy initially operates in the intermediate range of the aggregate supply curve; and ii) the economy initially operates in the vertical range of the aggregate supply curve. In your response clearly state your assumptions, support your arguments with recent evidence on the scenarios and illustrate your answers with diagrams. 
(a) The impact of lockdown restrictions due to COVID-19. (b) A fall in some Australian agricultural exports to China due to an increase in some tariffs and import restrictions. (c) A substantial fall in the number of international students arriving in Australia to undertake higher education studies. (d) A fall in permanent migration into Australia. 
Online submission via Turnitin is required for this assignment. Details will be provided by your subject lecturer. 
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