Business & Finance homework help. Learning Outcome Details
Unit Learning Outcome (ULO) Graduate Learning Outcome (GLO)
ULO 1: Interpret and apply basic principles and their effect on
individual economic decisions (microeconomics), the economy as a
whole (macroeconomics) and how economic indicators (data) are
used to validate these economic behaviours.
GLO1: Discipline-specific knowledge
GLO8: Global citizenship
ULO 2: Apply economic principles to the analysis of important
decisions confronting the management of business organisations.
GLO4: Critical thinking
ULO 3: Critically evaluate existing economic theories in the context
of real and contemporary national and international
GLO4: Critical thinking
GLO8: Global citizenship
Students who submit their work by the due date will receive their marks and feedback on
CloudDeakin on Monday 25 May 2019.
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Description / Requirements
Australia’s bushfires in 2019 reignite its debate about climate change. In this assignment, you will
discuss the public policies on greenhouse gas emissions, an important contributing factor to climate
change. Each of the following four questions is worth 10 marks.
1. In your own words, summarize the article “Australia’s rising greenhouse gas emissions” by Greg
Bourne, Andrew Stock, Will Steffen, Petra Stock, and Louis Brailsford. In particular, think about
the following: What is Australia doing to tackle climate change? What is its emissions reduction
target? What might help Australia to achieve its goal?
2. Many observers believe that the levels of greenhouse gas emissions in our economy are too high.
a. If society wants to reduce overall emission by a certain amount, why is it efficient to have
different amounts of reduction at different firms?
b. Economics usually prefer corrective taxes over regulations as a way to deal with greenhouse
gas emissions. Can you explain why? (Hint: Can regulations target the firms that should
undertake bigger reductions?)
c. Suppose there is a sharp development in the technology for controlling greenhouse gas
emissions. Using a diagram for the market for emissions, illustrate the effect of this
development on the demand for emissions rights. What is the effect of a carbon tax on the
price and quantity of emissions? Explain.
d. The demand for emission rights depends on the time horizon. In the short term, the demand
for emission rights is likely inelastic because firms may not have many alternatives. Over time,
however, demand becomes more elastic because more alternatives are developed. Illustrate
the effects of an increase in carbon tax on emissions in the short run and in the long run.
3. A carbon tax makes the individuals and firms to pay for the full social cost of carbon pollution. Do
you think the carbon tax is a good policy to reduce greenhouse gas emissions in Australia? Why
or why not? Whenever appropriate, you should supplement your answers with suitable diagrams.
(Hint: What are the pros and cons of a carbon tax?)
4. Find two countries other than Australia that have implemented a market-based approach to
control emissions such as carbon taxes and cap-and-trade schemes. Give a brief description of
the emissions controlling policies in these countries. (Hint: Did these policies effectively reduce
emissions in these countries?) Provide your views or suggestions on the best policy to reduce
greenhouse gas emissions in Australia.
Please provide clear references for any cited sources using the Harvard referencing style.
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All assignments must be submitted online to the unit website by the due date. Instructions
for assignment submission will be provided at the beginning of Week 7 (Monday 27 April 2020).
You must keep a backup copy of every assignment you submit, until the marked assignment has been
returned to you. In the unlikely event that one of your assignments is misplaced, you will need to
submit your backup copy.
Any work you submit may be checked by electronic or other means for the purposes of detecting
collusion and/or plagiarism.
When you are required to submit an assignment through your CloudDeakin unit site, you will receive
an email to your Deakin email address confirming that it has been submitted. You should check that
you can see your assignment in the Submissions view of the Assignment dropbox folder after
upload, and check for, and keep, the email receipt for the submission.
• Penalties for late submission: The following marking penalties will apply if you submit an
assessment task after the due date without an approved extension: 5% will be deducted from
available marks for each day up to five days, and work that is submitted more than five days
after the due date will not be marked. You will receive 0% for the task. ‘Day’ means working
day for paper submissions and calendar day for electronic submissions. The Unit Chair may
refuse to accept a late submission where it is unreasonable or impracticable to assess the task
after the due date.
• For more information about academic misconduct, special consideration, extensions, and
assessment feedback, please refer to the document Your rights and responsibilities as a
student in this Unit in the first folder next to the Unit Guide of the Resources area in the
CloudDeakin unit site.
• Building evidence of your experiences, skills and knowledge (Portfolio) – Building a portfolio
that evidences your skills, knowledge and experience will provide you with a valuable tool to
help you prepare for interviews and to showcase to potential employers. There are a number
of tools that you can use to build a portfolio. You are provided with cloud space through
OneDrive, or through the Portfolio tool in the Cloud Unit Site, but you can use any storage
repository system that you like. Remember that a Portfolio is YOUR tool. You should be able
to store your assessment work, reflections, achievements and artefacts in YOUR Portfolio.
Once you have completed this assessment piece, add it to your personal Portfolio to use and
showcase your learning later, when applying for jobs, or further studies. Curate your work by
adding meaningful tags to your artefacts that describe what the artefact represents.