ECON1012 Principles of Economics

For this assignment, you will refer to the latest Australian National Accounts data available from the Australian Bureau of Statistics at the below link.
https://www.abs.gov.au/statistics/economy/national-accounts/australian-national-accounts-national-income-expenditure-and-product/jun-2021
Task:
For this assignment, you are asked to provide your own analysis of the GDP figures for the June 2021 quarter. This must be in your own words.
As part of this analysis, ensure that you include and focus on the following:
• What the headline change in GDP (+0.7%) means.
• Identify from the data, recent changes in components of expenditure C, I, G and NX. Through your explanation, ensure that you show evidence of your understanding of each component.
Make sure to use key terminology and course concepts where appropriate.
Format:
The format of your response should be an essay-style response.
You do not need to spend as much attention on formal essay structure as you might for a persuasive or research-based essay. Instead you should focus on communicating your ideas in a clear and concise manner and making sure there is a logical flow of ideas and explanation.
Word Limit:
800 words (excluding diagrams and references)
Diagrams:
For this assignment task, you are not required to draw diagrams of an economic model. (The AS-AD model and topic is not required.) You may wish to include diagrams or tables directly from the ABS data, in which case it is important that you provide appropriate references.

Referencing:
This is not a research assignment. So you do not necessarily need to find other references. You should answer the question based on what you have learnt in the course and the linked ABS page.
However, it is important that if you do take content directly from other sources including course materials, both quoting and paraphrasing, that you appropriately reference to show what is your own original thoughts and what ideas you have borrowed from others. Please refer to the Academic Integrity Module within the course for further guidance and links regarding referencing, plagiarism, and academic integrity.
Where referencing is used, it can be in any standard style, so long as it is consistent. The Harvard referencing style is preferred, as it is the standard in Economics and is also common in Business disciplines.
https://www.adelaide.edu.au/writingcentre/resources/referencing-guides
All submissions will be analysed with the assistance of Turnitin, checking for plagiarism against other students in the class and external sources.

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