- Task
The purpose of the assignment is to allow you to demonstrate your mastery of
theoretical concepts introduced in the unit, applied to a real-world setting. There are
five questions, some dealing with general concepts and others becoming more directed
in the information required.
You will also have a chance to demonstrate your understanding of regression, a
fundamental skill in quantitative business analysis. The questions are phrased in an
open-ended manner; the intention is that the assignment is as non-prescriptive as it can
be while allowing you the academic freedom to explore and learn as much as you can.
Assignment guide
The setting for this assignment is the issue of unemployment and social security.
Question One – Background (5 marks)
Introduce and explain the concept of social welfare
Be sure to contextualise the remainder of the assignment
Question Two – Supply and Demand (5 marks)
Using the labour market, define and describe the laws of demand and supply
Use simple diagrams to illustrate the effect of elasticity on those laws
Question Three – Forecasting (5 marks)
Using the data provided, conduct a regression analysis
Comment on the strength of the derived regression
Use the regression to forecast future employment conditions
Question Four – Research (10 marks)
Research the concepts of money wages and real wages
Explain these two concepts and why they are important
Discuss how wage indices factor in broader economic terms
Question Five – Conclusion (5 marks)
Provide comment and outlook for the global employment market
Presentation (10 marks)
Ten marks are reserved for presentation and referencing
You should aim for 20 academic references
3000 words