Highlights
1. Overview
Although our economy has managed the 2007/08 global financial crisis (GFC), many economists predict that the current pandemic (COVID-19) could cause a recession in
Australia. It has already caused upheaval in many sectors of the Australian economy, including disrupted supply chains and the unusual consumer behaviours (yes, I am talking about the toilet papers!). In response, the Australian government is taking aggressive measures to try to contain the economic damage. Consider yourselves as policy advisors to the government and provide advice based on the skills and expertise acquired in this course so far. As an expert’s role in the government decision-making process, your task has the following two objectives:
Analysis: Experts are responsible for analysing the economic scenario (eg, depicting the likely impact of the policy on the economy) using the specialised knowledge and the technical expertise in the discipline.
Communication skills: Experts must communicate their findings and recommendations effectively to the decision-makers in government – ministers, senior public servants – as an independent/third party observer.
There will be three parts to this assignment:
Part A: Diagnostics (macroeconomics data interpretations)
Task: You assess the current situation of the economy using macroeconomic data and make a diagnostic analysis of the economy.
Part B: Policy brief report
Task: you are asked to provide an economic analysis of economic policies to combat with economic impacts of COVID-19 in the form of the policy brief. Policy
briefs aim to be practical and well-researched to make it useful and worthwhile for your clientele.
Part C: Micro-credential (Information Literacy)
Task: You are required to complete the micro-credential (Information Literacy) which will help enhance your skills in searching for, organizing and interpreting information.
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