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MBS686 Economics and Business Strategy

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Assignment 2: Research Project (40%)

(Submit assignment (Word format) on Murdoch LMS website.)

This assignment is designed to develop skills in assessing market information and presenting clear written communication about economic outcomes in markets, as this is an important employability skill.

Pick a country. Use the Solow growth model to analyse the impact of innovation and technological progress on the economic growth of the country of your choice. Also using Konig and Winkler (2021) “Covid-19: Lockdowns, Fatality Rates and GDP Growth” as a starting point consider the impact of COVID-19 on your analyses.

Introduction

Thesis statement.

Brief summary or outline of the main topics/arguments/points made in the essay

Conclusion

Restatement or summary of the main points made in the body paragraphs and a final comment (if appropriate). No new ideas are to be included in the conclusion.

Main Body

The Solow Growth Model (SGM)

  • (a) Brief overview of model – production function, savings-investment function, breakeven investment function, steady state equilibrium with diagram.
    • (b) Predictions of SGM with diagrams
      • i. Diminishing marginal productivity of capital.
      • ii. Impact of saving rates on economic growth
      • iii. Impact of population growth rates on economic growth
    • iv. Technological progress as driver of sustainable economic growth
    • (c) Limitations of SGM and measurement of technological progress (TFP) using Solow residual.

Endogenous Growth Theory.

Discussion of economic growth experience and government policies of your chosen country (1970 – current) in relation to predictions of SGM and endogenous growth theory.

You should integrate the data / graphs / evidence for your country as you are discussing the various predictions of the SGM and endogenous growth theory.

Data / Graphs that you could use from APO Productivity Databook 2020 or equivalent

(a) Contribution to GDP growth

(b) Marginal productivity of capital

(c) Contribution of TFP, capital and labour growth to economic growth

You can also present other relevant data in graphical or table format for your country to support your discussion.

REQUIREMENTS:

The following lists of deadline and requirements should be adhered to. Failure to do so will result in a lower grade on the project.

SUBMISSION DATE: 31 October 2021

FORMAT REQUIREMENTS:

The paper should
  • be typed and double spaced;
  • flow as a well-documented coherent paper;
  • cite all sources;
  • have correct formats for the bibliography, footnotes and references; and
  • have on the first page of the paper, the title of the paper, the author’s names and respective tutorial groups; and

Quality is the most appropriate determinant of the grade awarded but it is suggested that approximately 3,500 words be a suitable length.

Murray Brennan

15 September 2021

MBS686 Economics and Business Strategy

Assignment 2: Research Project (40%)

(Submit assignment (Word format) on Murdoch LMS website.)

This assignment is designed to develop skills in assessing market information and presenting clear written communication about economic outcomes in markets, as this is an important employability skill.

Pick a country. Use the Solow growth model to analyse the impact of innovation and technological progress on the economic growth of the country of your choice. Also using Konig and Winkler (2021) “Covid-19: Lockdowns, Fatality Rates and GDP Growth” as a starting point consider the impact of COVID-19 on your analyses.

Introduction

Thesis statement.

Brief summary or outline of the main topics/arguments/points made in the essay

Conclusion

Restatement or summary of the main points made in the body paragraphs and a final comment (if appropriate). No new ideas are to be included in the conclusion.

Main Body

The Solow Growth Model (SGM)

  • (a) Brief overview of model – production function, savings-investment function, breakeven investment function, steady state equilibrium with diagram.
    • (b) Predictions of SGM with diagrams
      • i. Diminishing marginal productivity of capital.
      • ii. Impact of saving rates on economic growth
      • iii. Impact of population growth rates on economic growth
    • iv. Technological progress as driver of sustainable economic growth
    • (c) Limitations of SGM and measurement of technological progress (TFP) using Solow residual.

Endogenous Growth Theory.

Discussion of economic growth experience and government policies of your chosen country (1970 – current) in relation to predictions of SGM and endogenous growth theory.

You should integrate the data / graphs / evidence for your country as you are discussing the various predictions of the SGM and endogenous growth theory.

Data / Graphs that you could use from APO Productivity Databook 2020 or equivalent

(a) Contribution to GDP growth

(b) Marginal productivity of capital

(c) Contribution of TFP, capital and labour growth to economic growth

You can also present other relevant data in graphical or table format for your country to support your discussion.

REQUIREMENTS:

The following lists of deadline and requirements should be adhered to. Failure to do so will result in a lower grade on the project.

SUBMISSION DATE: 31 October 2021

FORMAT REQUIREMENTS:

The paper should
  • be typed and double spaced;
  • flow as a well-documented coherent paper;
  • cite all sources;
  • have correct formats for the bibliography, footnotes and references; and
  • have on the first page of the paper, the title of the paper, the author’s names and respective tutorial groups; and

Quality is the most appropriate determinant of the grade awarded but it is suggested that approximately 3,500 words be a suitable length.

Murray Brennan

15 September 2021

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