BUS1BUE Individual Assignment

BUS1BUE Individual Assignment

BUS1BUE Individual Assignment
BUS1BUE Individual Assignment Tips

1. Use the same market you used for Online Exercise 2. However, you can change it if you are not
   happy with your market. You don’t need permission, but you can email Nicola to check the market
   with her if you’d like to.
2. The word limit is 1,000 words; you can write less but you can’t write more. This excludes the
   reference list.
3. You need to pick a market to analyse, it must have had a market shock (unexpected change) in
   2020 – 2021. It cannot be a market with price fluctuations like petrol prices, which always occur so
   are expected, or one that has seasonal variations which are expected – like snow ski ticket sales in
   summer compared to winter.
   Assignment Topic suggestions and ideas to get you started:
   • With significant rainfall in many drought-stricken farming areas recently there has been
   unprecedented demand for glyphosate, a type of weed killer as farmers are buying lots of it
   to kill off the weeds and plant crops
   https://www.farmonline.com.au/story/6649452/chemical-stocks-tight-but-sufficient-fornow/
   • The impact of COVID-19 on international travel services, cafes, clothing shops in shopping
   centres, Bars, Clubs, Leisure Centres (all negatively impacted) or positively impacted
   Bunnings / hardware stores, streaming services, food delivery, online house party apps,
   online dating apps, cyclist stores (how many bike riders are there on the bike tracks, me
   included!!)
   • COVID impact on the travel industry, this year with domestic travel interstate still poor.
   • Hotels and accommodation are still affected by COVID-19
   • Travel restrictions means a massive worker supply shortage for fruit and vegetable growers,
   this is impacting the market price and quantity
   These are just some ideas to get you thinking if you have an idea of a different market shock you’d
   like to analyse, go for it!
   BUS1BUE Individual Assignment
4. Pick something that interests you, but one you can also apply the economic concepts from
   weeks 1 – 8. This is important, there are lots of cool market changes out there but if you are
   struggling to work out how the demand shift for mobile phone components in France impacts GDP
   or unemployment, then maybe rethink your essay topic.
   Consider the market, it is easier to examine the impacts of a market shift in a town or country rather
   than an international shift. For instance, the shift in demand for avocado’s in Australia due to café
   closures with COVID-19, this impacts farmers and consumers in Australia, it will affect GDP, it may
   increase unemployment etc. Work out the time frame you want to discuss, make sure you state it in
   your market overview or introduction, this clear definition of the time frame will make the economic
   analysis easier.
   Seek help and advice if you are unsure contact your workshop facilitator or Nicola Thomas with a
   topic and check if they think it is suitable for the essay.
5. Research your essay topic, gather information from a range of sources. A good essay has at
   least 5 references from difference sources. The sources do not need to be peer reviewed journals,
   but they do need to be reliable. DO NOT USE YouTube, blogs, vlogs or Wikipedia. A good idea when
   you are researching your topic is to have a word document open and copy and paste links into the
   document when you find something interesting or useful. When you are writing your essay you can
   open up your word document and you will have all your sources readily available.
6. Structure your essay. It needs:
   • An introduction – short and sweet introducing the topic and market in 2 – 3 sentences
   • A paragraph describing the market – the market overview
   • One – two paragraphs analysing the impact of the market shock / change – apply as many
   economic concepts as you can from weeks 1- 8
   • A conclusion summarising your findings
   Do not include bullet points in an essay, if you want to present summarised information you would
   normally present in dot points, use a text box or chart.
7. Include a chart or graph you have created yourself; this will demonstrate you can apply the
   concepts discussed in workshops and lectures to your market. Please don’t copy and paste charts
   you’ve googled. If you aren’t a computer whiz, it is fine to hand draw the graph, take a photo of it
   and insert it into your essay.
   BUS1BUE Individual Assignment
   I have included an example below of 2 methods of drawing a graph that you could use, one uses
   colour to illustrate different economic concepts, the other has no colour but uses a table instead.
   Remember to include a heading with the graph.
   Figure 1: Changes in Market Welfare with a tax on fast food
8. REFERENCE CORRECTLY!!! Harvard referencing must be used, if you are unsure how to reference
   the library guide can show you how to do it.
   https://www.lib.latrobe.edu.au/referencing-tool/harvard
9. If you have too many words proof-read it or get a friend to with the Marking Guide next to them
   (see end page of this document), evaluating does this address the marking criteria? If it is
   interesting information but it doesn’t address a key point, cut it out and copy it into a spare
   document. See if the essay still reads well without it. This is best done at least a couple of hours
   after writing the essay.
   BUS1BUE Individual Assignment
   Or go online and visit LaTrobe’s Studiosity, you can submit your work and within a couple of days
   you will get a response. Bear in mind it will be busy week 8 & week 9. Studiosity has a range of essay
   support and live help, please check it out.
   Studiosity: https://studiosity.com/connect/clients/la-trobe-university/student_home
10. Pay attention to the marking rubric (a copy is on the last page of this document).
    • 40% of your grade is structure, presentation and research (including referencing and in text
    citations)
    • 30 % is problem solving including concepts and diagrams using the material from week 1 – 8
    • 30 % is critically analysing the market and evaluating the impact of the change.
    Structural components are easy things to get right and get valuable points.
11. Don’t leave it to the last minute, leave a bit of time, so you can submit it, the Turnitin software
    can take a while to process documents (hour or two).
    Turnitin will return a rating of how much information in your essay is found in other sources
    including other essays submitted to institutions around the world. It is fine to use quotes and
    material from sources, just remember to cite the source in your essay (use the library guide for help
    on doing this) and put the full reference in your reference list. This will all be recognised by Turnitin,
    but if markers can see it is properly cited, that is totally fine.
    Remember your essay is meant to be your own work.
    BUS1BUE Individual Assignment

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