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: Introduce and explain the concept of social welfare. Be sure to contextualise the remainder of the assignment
Question Two - Supply and Demand:
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
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
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
Provide comment and outlook for the global employment market Presentation.