Economics Assignment Help for Managerial Task

ECONOMICS FOR  MANAGERS - MPE781/981

Assignment  Overview: This assignment is partly based on the attached article, “Gov’t moves to sell Medibank Private,” by Jim McIlroy, April 9, 2014. Please read this article carefully before attempting the questions. You will be required to demonstrate your understanding of economic concepts taught in the unit and relate them to the cases in the article.

Learning  Objectives:  This assignment is designed to encourage you to think about the applications of economic concepts learned in this unit to real world scenarios.

Assessment:  Based on the attached Rubric, your assignment will be graded on your use of appropriate economic theory and concepts, clarity of exposition and overall quality of your answers.

Questions: Answer all questions. Limit the total word count of your assignment to less than ,3000 words. Depth is encouraged over breadth: that is, it is more important that you demonstrate you understand a concept fully, rather than talk about 3 related concepts only cursorily. You are encouraged to provide necessary graphs, figures and data wherever possible. Please be careful in implementing referencing styles.

Total  mark:  40 marks. Allocation as indicated next to the question. Your score on this assignment contributes towards 40% of your final score for this unit.

Submission: This assignment must be submitted electronically on D2L (DSO)Dropbox area by all students by 11:59pm on the due date. No hard copy is required. Print your name and student ID clearly on the first page of your answers. Please check the Academic Honesty and Misconduct section in the Unit Guide. Submitting your answers automatically implies that you have read and accepted the Plagiarism and Collusion Declaration, and that the submitted answers are entirely your own work.

Question 1: (8 marks)

In your own words, summarize the article, “Gov’t moves to sell Medibank Private,” by Jim McIlroy, April 9, 2014.

In particular, what are the main messages of the article?

  

Question 2:  (8 marks)

Suppose a firm, like Medibank, is government-owned.

(a).  If the government’s objective is to maximize welfare, what would be the price charged by this firm? What would be the consumer surplus, producer surplus and total surplus?

(b)   If the government imposes a buyer’s tax (a specific tax), what would be the changes in consumer surplus, producer surplus and total surplus?

Question 3: (8 marks)

After privatization, the firm becomes private-owned. Suppose this firm has a monopoly power.

(a)    If the firm’s objective is to maximize profits, what would be the price charged?

(b)   If the firm’s objective is to maximize revenue, what would be price charged?

Question 4:  (8 marks)

Why did the Australian Government like to privatize Medibank?

Is the market-based healthcare system superior to the government-provided healthcare system? Why or why not?

Question 5: (8 marks)

Find healthcare policies for at least two countries or economies, and do an n-depth comparative review on their policies. Provide your views or suggestions on the best healthcare policies that could be considered or used in Australia.

Performance Indicators Performance Levels Criteria	YET TO ACHIEVE MINIMUM STANDARD		MEETS STANDARD		EXCEEDS STANDARD
	Poor / unacceptable / Not attempted (Marks: 0-2)	Requires further development) / needs improvement (Marks: 2.1-3.9)	Acceptable / Satisfactory / Proficient (Marks: 4-4.7)	Good / Well done (Marks: 4.8-5.5)	Very good / exceeds expectations (Marks: 5.6-6.3)	Excellent / exemplary / exceeding high standard (Marks: 6.4-8)
Question 1 Accessing Criterion Discipline Specific Knowledge and Capabilities; Total Marks: 8	Provides an explanation that is not consistent with the existing economic theories or/and fails to establish the link between the case study and the relevant economic theories. Furthermore, summary of the of the given article is not coherent and provide incorrect interpretation	Provides an explanation that demonstrates some ability in establishing the link between the case study and the existing economic theories. Furthermore, summary of the of the given article may be coherent but provide incorrect interpretation	Providing an explanation that demonstrates a good ability in establishing the link between the case study and the existing economic theories. However, the explanation also demonstrates superficial knowledge of the existing economic theories. Furthermore, summary of the of the given article is coherent, and provide correct interpretation.	Providing an explanation that demonstrates a competent knowledge in establishing the link between the case study and the existing economic theories. Also demonstrate the ability of accurate understanding of the theories. Furthermore, summary of the of the given article is coherent, and provide correct interpretation	Providing an explanation that demonstrates a competent knowledge in establishing the link between the case study and the existing economic theories. Also demonstrate the ability of accurate understanding of the theories. Proficient with the interpretation of one perspective. Furthermore, summary of the of the given article is coherent, and provide correct interpretation	Demonstrating the depth of knowledge in establishing the link between the case study and the existing economic theories. Also demonstrate the ability of accurate understanding of the theories. Proficient with the interpretation of different perspectives. Furthermore, summary of the of the given article is coherent and provide correct interpretation
Question 2 Accessing Criterion Critical Thinking (Evaluation of Information/theories); Total Marks: 8	Poor or missing analysis of theories; Inconsistent argument or argument with no supporting evidence. Always confuses facts and personal opinion and/or emotion. Information is taken from source(s) with no or little interpretation.	Inadequate demonstration of critical analysis of relevant theories and models; Poor reasoning and argument with no supporting evidence. Often confuses facts and personal opinion and/or emotion	Mostly adequate demonstration of critical analysis of theories and models, yet some inconsistencies remain in the arguments. Discriminates between assertion or personal opinion and information substantiated by evidence.	General demonstration of critical analysis of theories and models. Discriminates between assertion or personal opinion and information substantiated by robust evidence. Information is taken from source(s) with appropriate interpretation. Provides relevant supporting diagrams (e.g. illustrations, charts, graphs etc.).	Accurate demonstration of critical analysis of theories and models. Systematically discriminates between assertion or personal opinion and information substantiated by robust evidence. Information is taken from source(s) with a high level of interpretation. Provides relevant diagrams (e.g. illustrations, charts, graphs etc.).	Scholarly demonstration of critical analysis of theories and models. Systematically and methodically discriminates between assertion or personal opinion and information substantiated by robust evidence. Information is taken from source(s) with a very high level of interpretation. Provides relevant diagrams (e.g. illustrations, charts, graphs etc.).
Question 3 Accessing Criterion (Problem Solving; Total Marks: 8)	Demonstrates no ability to independently construct a clear statement about a complex problem or research hypothesis. Proposes no solutions or ideas to address new and complex problems. Demonstrates no evidence of initiative in planning and identifies no viable approaches for solving complex problems.	Demonstrates a limited ability to independently construct a clear and statement about a complex problem or research hypothesis. Proposes inappropriate solutions or ideas to address new and complex problems. Demonstrates limited evidence of initiative in planning and identifies few viable approaches for solving complex problems.	Demonstrates satisfactory ability to independently and expertly construct a clear statement about a complex problem or research hypothesis with evidence. Creates an acceptable new object, solution, or idea; Proposes one or more acceptable creative solutions to existing and/or new situations in professional practice; also the solution reflects proficient judgement of the pros and cons of the various options.	Demonstrates a good ability to independently and expertly construct a clear statement about a complex problem or research hypothesis with evidence of reasonably relevant contextual factors. Proposes reasonable adaptations of existing objects, solutions or ideas to address new and complex problems Demonstrates a very high level of initiative in planning and identifies multiple approaches for researching and solving complex problems. Provide relevant diagrams.	Demonstrates a very good ability to independently and expertly construct a clear and insightful statement about a complex problem or research hypothesis with evidence of relevant contextual factors. Create a brilliant innovative new object, solution or idea; Proposes adaptations of existing objects, solutions or ideas to address new and complex problems, reflects on and evaluates the creative process and product. Skilfully extends an existing idea. Demonstrates a high level of initiative in planning and identifies multiple, innovative approaches. Provide relevant diagrams.	Demonstrates exceedingly high ability to independently and expertly construct a clear and insightful statement about a complex problem or research hypothesis with evidence of all relevant contextual factors. Create a ground-breaking innovative new object, solution or idea; Proposes adaptations of existing objects, solutions or ideas to address new and complex problems, reflects on and evaluates the creative process and product. Outstandingly extends an existing idea Demonstrates a very high level of initiative in planning and identifies multiple, innovative approaches. Proposes one or more exemplary creative, novel solutions to existing and/or new situations in professional practice. Provide relevant diagrams.

Question 4 Accessing Criterion Critical Thinking (Existing Knowledge, Research or/and Views); Total Marks: 8	Poor or missing analysis of theories. Always presents information from inappropriate sources representing very limited points of view or approaches.	In adequate demonstration of critical analysis of relevant theories and models; Poor reasoning and argument with no supporting evidence. Often presents information from inappropriate sources representing limited points of view or approaches.	Mostly adequate demonstration of critical analysis of theories and models, yet some inconsistencies remain in the arguments. Presents information from relevant sources representing various points of view or approaches, and demonstrating a mastery of theoretical knowledge.	General demonstration of critical analysis of theories and models. Presents complex information from relevant sources representing various points of view or approaches, and demonstrating a mastery of theoretical knowledge. Provides diagrams explaining one critical aspect of the theories.	Accurate demonstration of critical analysis of theories and models. Synthesises information and knowledge from a range of relevant sources representing various points of view, approaches and demonstrating a high level of mastery of theoretical knowledge. Provides diagrams explaining different critical aspects of the theories.	Scholarly demonstration of critical analysis of theories and models. Synthesises complex information and knowledge from a broad range of relevant sources representing various points of view, approaches and demonstrating a high level of mastery of theoretical knowledge and expert understanding of recent developments in the discipline and/or area of professional practice. Provides diagrams explaining different critical aspects of the theories.
Question 5 Accessing Criterion (Global Citizenship; Total Marks: 8)	Demonstrates no understanding of the complexity of global/ cultural / ethical perspectives or of professional practice.	Demonstrates limited understanding of the complexity of global/ cultural / ethical perspectives or of professional practice.	Demonstrates acceptable level of understanding of the complexity of global/ cultural / ethical perspectives or of professional practice. Provide diagrams and relevant figures to make a consistent argument with good reasoning.	Demonstrates a high level of understanding of the complexity of global/ cultural / ethical perspectives or of professional practice. Provide diagrams and relevant figures to make a consistent argument with good reasoning.	Demonstrates very good sophisticated understanding of the complexity of global/ cultural / ethical perspectives or of professional practice. Provide diagrams and relevant figures to make a consistent argument with good reasoning.	Demonstrates extraordinarily sophisticated and deep understanding of the complexity of global/ cultural / ethical perspectives or of professional practice. Provide diagrams and relevant figures to make a consistent argument with good reasoning.
Overall (Total marks: 40)	If the achieved marks are X, then 0  X  10	If the achieved marks are X, then 10 < X < 20	If the achieved marks are X, then 20  X < 24	If the achieved marks are X, then 24  X < 28	If the achieved marks are X, then 28  X < 32	If the achieved marks are X, then 32  X  40