Impact Report

Impact Report 

This version: 23 April 2021

 

Assessment Task Impact Report
Group or Individual Individual
Weighting 30% (100 marks reweighted to 30%)
Word Limit 1500 ± 100 words
DUE DATE 1.00 pm May 12 (Wednesday)
Marking Guide (Rubric) Blackboard > Assessment > Impact Report > Rubric
Submission Turnitin via course BB site (see page 7 for further guidance).

The submission title of your report must be of the following format:

Allocated Country First Name Surname

(e.g. Norway Grace Tame)

Academic Integrity UQ has strict rules against cheating, including “colluding with other students on individual assessment items”. You must read and be familiar with these rules (PPL 3.60.04 Student Integrity and Misconduct).

 

 

CONTEXT

 

The Impact Report follows the Country Report, and you are required to work on the same country that you are assigned for the Country Report. You are required to use economic models and theories covered in this course to explain how the COVID-19 pandemic has impacted the macroeconomy of your assigned country, taking into consideration the key policy responses by the government and central bank to the crisis.

 

PLEASE NOTE: For the Impact Report, you only need to consider data up to 2020 if they are available.

 

   

TASK

 

As independent an economic consultant, you are hired by a consultancy firm to provide an assessment of:

 

  1. the impacts of the COVID-19 pandemic on the country’s economy; and
  2. the key policy responses by the government and central bank to the crisis.

 

In doing so, you will deliver a structured Impact Report, which includes the following illustrative features:

 

🗹 Up to three (3) figures (diagrams, graphs, or tables) in total. Here, you can use a mixture of diagrams, graphs and tables provided the total number is no more than 3. That is, you can use up to 2 figures additional to the AD-AS diagram required in Section 1(b).

🗹 You can include more than one variable in a graph or table.

🗹 You must produce your own figures, rather than cut and paste from other sources.

🗹 You can use direct quotes provided the total number of quoted words sums to 20 words or less in the whole of the report. This rule is intended to prevent students from over relying on direct quotes without critically analysing the content of the source. (Note: This is different from the Country Report.)

 

 

COUNTRY ALLOCATION

 

The country you must use for this report is based on the last digit of your student number: For example, if your student number is 44194356, then you need to work on country number 6 – Sweden.

 

Last digit  Country
0 or 1 Denmark
2 or 3 Finland
4 or 5 Netherlands, the
6 or 7 Sweden
8 or 9 Norway

 

PLEASE NOTE: The number in your student email address (e.g. S4419435) is not your student number: it misses the last digit (i.e. 6 in this example). A penalty will be applied if you fail to follow the country allocation rules.

 

   

Penalty Rates

 

LATE SUBMISSION:

“when an extension has not been previously approved, a penalty of 10 marks (out of 100) will be deducted for every 24-hour block up to 7 calendar days, at which point any submission will not receive any marks.” (Section 5.3 of the Course Profile.)

 

HIGH TURNITIN SIMILARITY INDEX VALUE:

●       16-20: as much as 5 marks (out of 100) may be deducted.

●       21-25: as much as 10 marks (out of 100) may be deducted.

●       26-30: as much as 20 marks (out of 100) may be deducted.

●       > 30: as much as 40 or more marks (out of 100) may be deducted.

 

Besides mark deduction, cases of alleged plagiarism will be reported to the School’s Integrity Officer for investigation following the University’s policy.

 

Similarity index values change slightly over time as Turnitin continuously add new materials into its database, e.g. as more students have submitted their assignments. The best strategy is to keep your similarity index value sufficiently low, e.g. below 10, so that even though it goes up a little bit after submission it will not exceed 15.

 

The similarity of the coversheet is unavoidable, but it alone will not cause your similarity index value to be higher than 15.

 

Turnitin will ignore a small amount of unavoidable similarity (e.g. commonly used terms).

 

Turnitin will not include references in its similar score calculation.

 

COPYING FIGURES: 

●       For each copied figure (diagrams, graphs, or tables): up to 10 marks (out of 100) will be deducted.

●       The penalty remains the same even if references are provided for the copied figures.

 

Besides mark deduction, cases of alleged plagiarism will be reported to the School’s Integrity Officer for investigation following the University’s policy.

 

MORE THAN 3 FIGURES: 

For each extra figure (diagrams, graphs, or tables): up to 5 marks (out of 100) will be deducted.

 

WRONG COUNTRY: up to 10 marks (out of 100) will be deducted.

 

OMITTING THE COVERSHEET: 

●       Omitting the whole coversheet: up to 5 marks (out of 100) will be deducted.

●       Omitting some parts of the coversheet: up to 2 marks (out of 100) will be deducted.

 

EXCEEDING THE WORDCOUNT LIMIT (1500 ± 100):

●       2 marks for every 50 words exceeding 1600.

●       E.g. 2 marks for 1628; 4 marks for 1670 etc.

●       No penalty for less than 1400 words. But students probably will lose marks for insufficient content.

 

WRONG SUBMISSION TITLE STRUCTURE: 2 marks (out of 100) will be deducted.

 

 

            

REPORT STRUCTURE

 

The following is your guide to researching and writing each section of your report. Word limits are also suggested.

 

PLEASE NOTE: You must use the report template on Blackboard > Assessment > Country Report > Report Template.

 

The recommended formats are:

 

•       Font type: Arial

•       Font size: 11

•       Line space: 1.15

 

You must include the cover sheet (in the template) in your submission. Do not write your answer on the cover page.

 

The wordcount does not include:

•       the coversheet

•       the bibliography

•       section headings

•       figures

•       figure headings

•       short notes underneath figures (e.g. Source: WDI, 2021).

 

The wordcount includes in-text citations.

 

 

 

 

1. The Macroeconomic Impacts of the COVID-19 Pandemic (~750 words)

 

  1. Discuss how the COVID-19 pandemic has affected the economy of your assigned country in 2020. Use appropriate economic models and theories covered in this course to assist your explanation.

 

  1. Use an AD-AS model diagram to illustrate some of the impacts you discussed in part (a). On the diagram, label the x-axis as “Real GDP of [country name]” and the y-axis as “Price level of [country name]”.

 

DIAGRAM: 

Ø  You must create your own AD-AS model diagram instead of cut-and-paste from other sources. Otherwise, penalty applies (see the penalty section for details).

Ø  We recommend you draw the diagram using PowerPoint, and then copy-and-paste it as an image in your report.

Ø  Hand-drawing diagrams could be marked down for poor presentation quality.

Ø  You do not need to put actual data figures on the diagram.

Ø  You do not need to provide a reference for the AD-AS diagram(s) that you create because it does not include any actual data.

 

 

 

 

DATA:

Ø  You can include relevant data up to 2020 in your report if data is available.

Ø  World Development Indicators may not have 2020 data for your country.

Ø  You can look for the latest data on the websites of the Statistical Bureau, Treasury, the Central Bank, or other government departments of your country.

Ø  The OECD and IMF/World Bank’s World Economic Outlook reports may also provide the latest data.

Ø  Data from secondary sources can still be used as a supplement only if those data are not available from any primary sources. Using non-primary data can lead to loss of marks when primary source data is available for your country.

Ø  Do not falsely claim that certain data are not readily available from a primary source without doing your due diligence. For most data at the national level (e.g. GDP, unemployment rate), only national or multinational agencies have the capacity to collect those data. Therefore, it is extremely unlikely that they are available from a secondary source but not from a primary source.

Ø  If you use data from a source (e.g. a report) that indicates that it drew the data from a government statistical bureau, the data is considered to have come from a secondary source, not a primary source. However, if you go to the government statistical bureau and extract the same data (and verify what you read is indeed accurate), then it is considered to have come from a primary source.

 

 

TIP: 

Ø  Do not consider what happen in 2021.

Ø  Do not repeat the materials from your Country Report unless it is relevant.

Ø  The 750 words ‘limit’ for this section is a guide only. You can write more or less than 750 as long as your total wordcount is within 1500 ± 100.

Ø  You could discuss how the government’s non-economic responses to the pandemic (e.g. social distancing, closing the borders) and how it affects the economy.

Ø  You could contrast the economic effects of other global shocks, e.g., GFC or Brexit.

Ø  You can use a single direct quote or multiple direct quotes in your report, but the total number of words of all quotes combined must be 20 words or less. Any direct quote must be properly referenced.

 

 

2. The Policy Responses (~750 words)

 

  1. Outline the key fiscal policy actions of your country against the COVID-19 shocks during 2020. Use appropriate macroeconomic models and theories covered in this course to explain the expected impacts, and empirical data – if available – to explain any observed impacts. Discuss any limitations of these policy actions.

 

  1. Outline the key monetary policy actions of your country against the COVID-19 shocks during 2020. Use appropriate macroeconomic models and theories covered in this course to explain the expected impacts, and empirical data – if available – to explain any observed impacts. Discuss any limitations of these policy actions.

 

TIPS:

  • Do not consider what happen in 2021.
  • The 750 words ‘limit’ for this section is a guide only. You can write more or less than 750 as long as your total wordcount is within 1500 ±
  • The IMF Policy Tracker records the policy responses to COVID-19 by country.
  • If your country is a Eurozone member, then you need to consider the monetary policy actions of the European Central Bank.
  • If there are many policy actions, you could list all of them but focus on the key ones for discussion.
  • The government may take multiple actions (e.g. subsidising firms; providing cash handouts to households) and each action may have different impacts and effectiveness.
  • Fiscal and monetary policy actions have different limitations (e.g. effect lags; ability to target specific sectors). You should discuss their relative effectiveness in dealing with the pandemic shocks.
  • You could discuss how the behaviours of households and businesses, and the prepandemic macroeconomic conditions (e.g. very low interest rates) may affect the effectiveness of the policy actions.
  • You could discuss potential and actual drawbacks of a policy action (e.g. building up of debts; inflating asset bubbles).
  • You could contrast the policy actions of your country with some other countries to explain the pros and cons of the policy actions of your country.
  • You can divide your answers into subsections (a) and (b), but you can also answer all the questions in one single section.
  • You could use an AD-AD model diagram(s) in your answer. If you do so, make sure that you create your own diagram following the same instruction as in part 1b.

 

 

 

3. References

References and citations must be in either APA 7th or UQ Harvard style.

 

TIPS:

Ø  Use a variety of sources (rather than just one or two) and use sources that are credible,

e.g. publications by international organisations such as the World Bank, IMF, OECD, government agencies, central banks, and academic journals.

Ø  Consult UQ’s referencing style guide for the Harvard and APA 7th styles.

Ø  You must reference sources that you use for your text, graphs, or tables.

Ø  You must reference even when you have paraphrased the original content.

Ø  You can refer to non-English material sources if no equivalent English sources are available, but you should keep such sources to a minimum.

Ø  If you refer to non-English material sources, you need to provide the English translated references with a note at the end, e.g. “(original in German)”. The marker will consider the availability of English material sources for your country to ensure fairness in marking.

Ø  You should use the EndNote program (downloadable from UQ library) to manage your references instead of doing it manually.

Ø  The UQ APA 7th style guide does not provide an explicit example of how to cite the World Development Indicators. You can use the following format:

 

World Bank (2020a). World Development Indicators. GDP (current US$) [Data file].

https://databank.worldbank.org/source/world-development-indicators

 

World Bank (2020b). World Development Indicators. GDP growth (annual %) [Data file]. https://databank.worldbank.org/source/world-development-indicators

 

(Note: You don’t need to insert anything in [Data file]; it is to indicate that the source is a data file.)

 

 

SUBMITTING YOUR REPORT

 

Check if you tick all the items on the submission checklist provided on Blackboard >

Submission Checklist

Assessment > Impact Report >          . (Note: you do not need to submit the checklist.)

 

Your report must be submitted through Turnitin on Blackboard to check for plagiarism. While most instances of plagiarism are unintentional, any form of plagiarism (intentional or unintentional) will be revealed in the originality report.
 

From the originality report, the marker will check whether any part of your report is considered as having potentially plagiarised from other sources, rather than a similarity index value or colour. Therefore, you are expected to carefully check the originality report before your final submission. (Also see the Penalty section above.)
 

After uploading your Impact Report, you must press the confirm button. If you do not receive an email confirmation from ITS upon your submission, it means that your submission has failed, and you must resubmit your report. UQ ITS rule: No email

confirmation, no submission.
 

The deadline for submission is based on the time your report has been successfully uploaded on Turnitin as recorded by Turnitin, not the time you tried to upload it.
 

Many students fail to meet the deadline because they have internet connection problems on their side, but they mistake it as an IT problem of UQ. If UQ has any internet connection problems, there will be a record of it.

 

The only way to guarantee not missing the deadline is to submit your report well before the deadline.

 

The word length for each section is suggestive only. You are allowed to exercise discretion in deciding the length of each section, provided that your total wordcount is within the set word limit.

 

 

Having more in-text citations and references will reduce the number of words for the main body, while having too few in-text citations and references will reduce the credibility of the report. Therefore, you need to balance the two.