Individual Assignment
2. The word limit is 1,000 words; you can write less but you can’t write more. This excludes the
reference list.
3. You need to pick a market to analyse, it must have had a market shock (unexpected change) in
2020. It cannot be a market with price fluctuations like petrol prices, which always occur so are
expected, or one that has seasonal variations which are expected – like snow ski ticket sales in
summer compared to winter.
Assignment Topic suggestions and ideas to get you started:
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With significant rainfall in many drought-stricken farming areas recently there has been
unprecedented demand for glyphosate, a type of weed killer as farmers are buying lots of it
to kill off the weeds and plant crops
https://www.farmonline.com.au/story/6649452/chemical-stocks-tight-but-sufficient-for-
now/
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The Swine Flu in China has resulted in a shortage of pork and bacon
https://www.aljazeera.com/news/2020/01/pork-shortfall-china-due-swine-flu-jacks-global-
prices-200106101650057.html
The impact of COVID-19 on international travel services, cafes, clothing shops in shopping
centres, Bars, Clubs, Leisure Centres (all negatively impacted) or positively impacted
Bunnings / hardware stores, streaming services, food delivery, online house party apps,
online dating apps, cyclist stores (how many bike riders are there on the bike tracks, me
included!!)
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The huge demand for Hay for farmers to feed their animals last year when the drought was
at its worst created shortages
https://www.abc.net.au/news/rural/2019-06-11/hay-prices-hit-record-highs-as-demand-
increases-clearing-sales/11199414
These are just some ideas to get you thinking if you have an idea of a different market shock you’d
like to analyse, go for it!
BUS1BUE Individual Assignment
4. Pick something that interests you, but one you can also apply the economic concepts from
weeks 1 – 8. This is important, there are lots of cool market changes out there but if you are
struggling to work out how the demand shift for mobile phone components in France impacts GDP
or unemployment, then maybe rethink your essay topic.
Consider the market, it is easier to examine the impacts of a market shift in a town or country rather
than an international shift. For instance, the shift in demand for avocado’s in Australia due to café
closures with COVID-19, this impacts farmers and consumers in Australia, it will affect GDP, it may
increase unemployment etc.
Seek help and advice if you are unsure contact your workshop facilitator or Nicola Thomas with a
topic and check if they think it is suitable for the essay.
5. Research your essay topic, gather information from a range of sources. A good essay has at
least 5 references from difference sources. The sources do not need to be peer reviewed journals,
but they do need to be reliable. DO NOT USE YouTube, blogs, Wikipedia. A good idea when you are
researching your topic is to have a word document open and copy and paste links into the document
when you find something interesting or useful. When you are writing your essay you can open up
your word document and you will have all your sources readily available.
6. Structure your essay. It needs:
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An introduction – short and sweet introducing the topic and market in 2 – 3 sentences
A paragraph describing the market – the market overview
One – two paragraphs analysing the impact of the market shock / change – apply as many
economic concepts as you can from weeks 1- 8
A conclusion summarising your findings
Do not include bullet points in an essay, if you want to present summarised information you would
normally present in dot points, use a text box or chart.
7. Include a chart or graph you have created yourself; this will demonstrate you can apply the
concepts discussed in workshops and lectures to your market. If you aren’t a computer whiz, it is
fine to hand draw the graph, take a photo of it and insert it into your essay. Please don’t copy and
paste charts you’ve googled.
8. REFERENCE CORRECTLY!!! Harvard referencing must be used, if you are unsure how to reference
the library guide can show you how to do it.
https://www.lib.latrobe.edu.au/referencing-tool/harvard
BUS1BUE Individual Assignment
9. If you have too many words proof-read it or get a friend to with the Marking Guide next to them
(see end page of this document), evaluating does this address the marking criteria? If it is
interesting information but it doesn’t address a key point, cut it out and copy it into a spare
document. See if the essay still reads well without it. This is best done at least a couple of hours
after writing the essay.
10. Pay attention to the marking rubric.
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40% of your grade is structure, presentation and research (including referencing and in text
citations)
30 % is problem solving including concepts and diagrams using the material from week 1 – 8
30 % is critically analysing the market and evaluating the impact of the change.
Structural components are easy things to get right and get valuable points.
11. Don’t leave it to the last minute, leave a bit of time, so you can submit it, the Turnitin software
can take a while to process documents (hour or two).
Turnitin will return a rating of how much information in your essay is found in other sources
including other essays submitted to institutions around the world. It is fine to use quotes and
material from sources, just remember to cite the source in your essay (use the library guide for help
on doing this) and put the full reference in your reference list. This will all be recognised by Turnitin,
but if markers can see it is properly cited, that is totally fine.
Remember your essay is meant to be your own work.
BUS1BUE Individual Assignment
