Trimester 2 2014
Written Assignment: Economic Report
Total Marks in the assignment: 20
Word Limit: 1200 words
This assignment will provide an opportunity for students to research on the housing prices for five Australian capital cities, Sydney, Melbourne, Brisbane, Adelaide,
and Perth. The assignment requires you to download data, analyse the data and comment on the Australian housing market from 1986 to 2005 in the five cities.
Data source for housing prices in Australia
Go to the Australian Bureau of Statistics web site through the Deakin University Library web site. Or you can follow the link provided below:
http://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/6416.0Mar%202014?OpenDocument#Time
The above link will take you to the following catalogue page:
6416.0 Residential Property Price Indexes: Eight Capital Cities
Please download Table 9: Established House Price Index, Index Numbers Pre-September Quarter 2005 Methodology
Note that the above data is reported in quarterly frequency. Extract the required data for the above five capital cities.
Analysis
In order to do the analysis, it is expected that you will apply economic concepts learned in the unit. In particular, you will need to apply concepts learned in weeks
1 to 5 (Microeconomic analysis) and in weeks 6 to 9 (Macroeconomic analysis), and use them to explain what is currently happening in the Australian housing market.
Part I
a) Present the data in a table and in a line graph, correctly titled and sourced.
(4 Marks)
b) Comment on the changes in the prices for the market for each of the five cities, and compare between cities, over this period. Discuss at least three possible
economic factors affecting either demand or supply of house prices in general, using knowledge you have learned in this unit, with particular reference to Demand and
Supply and Elasticity.
(4 Marks)
Part II
a) Collect data on economic growth , unemployment rate and inflation rate for Australia from 1986 to 2005. Present this in a table and in a line graph.
(4 Marks)
b) Comment on how the Australian economy has been performing for the period. Discuss possible macroeconomic reasons for the movements in variables.
(4 Marks)
c) Compare the data from Part I a) and Part II a), explain if there is a relationship between the changes in the house prices and the other macroeconomic
variables in the same period. Give reasons for your answer.
(4 Marks)
Presentation and Referencing:
Answers should be in full sentences, which have been checked for grammar and spelling.
All sources should be fully referenced including sources for tables and charts and date of access for online material. Your assignment will include a bibliography. If
you are unsure about referencing, the library has useful information on referencing at:
http:/www.deakin.edu.au/current-students/study-support/study-skills/handouts/refer-plag.php
Please read carefully ‘ASSESSMENT’ and ‘ACADEMIC HONESTY AND MISCONDUCT’ in your unit guide before you start working on your assignment.
Submission:
The assignment must be submitted online with the honesty declaration signed. Submit into the Assessment drop box in the assessments area by 11.59pm on 22 September.
An earlier time is preferable in order to avoid system overload at the last minute. This avoids crash and the risk of late submission.
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