HI5003 Economics for Business – Individual Paper (News Article Analysis) – Assessment 2

1. Unit and Assessment Summary

Unit code and title: HI5003 Economics for Business

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Program: Postgraduate (Masters level)

Assessment title: Individual Paper – News Article Economic Analysis (Assessment 2)

Due date: Week 4 (Friday), BM Session 1 – 11:59 pm (AEST)

Weighting: 15% of total unit marks

Length: Maximum 1,000 words (excluding reference list, tables, charts, and cover details)

Submission mode: Soft copy only, upload to Blackboard (BB) via the Assessment 2 submission link

File format: Single .doc or .docx file. Other formats (e.g. .pdf, .pages, .zip) are not accepted.

2. Purpose of the Assessment

The individual paper develops your ability to apply core micro and macroeconomic concepts from HI5003 to a real‑world business or economic news event. The task assesses how effectively you can move from theory to practice, interpret data or market information, and communicate a clear, well‑reasoned written argument suitable for a postgraduate business audience.

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3. Task Description and Requirements

3.1 Task Overview

You are required to select a recent news article that reports on a business or economic issue and write a short analytical paper (maximum 1,000 words) that explains the issue using appropriate economic concepts and theories from HI5003.

3.2 Choice of News Article

• Select one news article published within the last 12 months from a reputable source (for example, The Australian Financial Review, The Age, The Guardian, Financial Times, Wall Street Journal, Bloomberg or similar).
• The article must focus on a clearly identifiable economic or business issue such as:
  • changes in demand or supply in a specific industry;
  • pricing decisions and elasticity;
  • market structure and competition;
  • inflation, interest rate changes or monetary policy;
  • unemployment or labour market trends; or
  • fiscal policy decisions affecting business conditions.
• Attach a copy of the article or provide a full URL in your reference list.

3.3 Structure of the Paper (Suggested)

1. Introduction (approx. 1 short paragraph)
   • Identify the article (source, date, title) and state the main economic or business issue you will analyse.
2. Summary of the Article (approx. 1–2 short paragraphs)
   • Briefly summarise the key facts and arguments presented in the article.
   • Focus only on elements that matter for your economic analysis.
3. Economic Analysis (main section, several paragraphs)
   • • Identify and define the relevant economic concepts or theories from HI5003 (for example, demand and supply, market equilibrium, elasticity, cost structures, market power, inflation, monetary policy).

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   • Explain clearly how these concepts apply to the situation described in the article.
   • Use graphs, charts or diagrams where useful (for example, a demand–supply diagram to show a shift in demand or supply).
4. Conclusion (1–2 paragraphs)
   • State your conclusion about the main issue or problem raised in the article.
   • Explain explicitly how your economic analysis supports that conclusion.
   • You may comment briefly on implications for business decision‑makers or policy makers.
5. References
   • Include a reference list at the end containing your news article and any academic or textbook sources used.
   • Follow an appropriate referencing style consistently (for example, APA 7th ed. for business, unless your lecturer specifies otherwise).

3.4 Presentation and Formatting

• Use 11‑ or 12‑point font, 1.5 line spacing and standard margins.
• Write in clear academic English; avoid bullet‑point lists in the main body of your analysis.
• Number pages and include your student ID and unit code in the header or footer.
• Indicate the word count at the end of your conclusion (excluding reference list).

4. Marking Criteria (Total 15%)

4.1 Critical Thinking Skills (5 marks)

• Excellent (4.5–5): Demonstrates strong critical engagement with the article and the underlying economic issue. Identifies assumptions, limitations and broader implications rather than merely repeating the article’s narrative. Shows originality and independent thought in interpreting the economic problem.
• Good (3.5–4): Shows clear critical thinking in linking facts to economic ideas, with some evaluation of the article’s arguments. May lack depth or nuance in a few areas but remains coherent and analytical overall.
• Satisfactory (2.5–3): Provides some critical comment and basic interpretation but often descriptive. Tends to summarise the article more than evaluate it. Limited consideration of alternative perspectives or implications.
• Unsatisfactory (0–2): Largely descriptive, simply retelling the article without real analysis. Little or no evidence of critical thinking or evaluation.

4.2 Clarity of Writing and Expression (3 marks)

• Excellent (2.5–3): Writing is clear, well structured and concise. Paragraphs are logically ordered and arguments are easy to follow. Grammar and spelling errors are minimal or absent.
• Good (2–2.4): Generally clear expression with only minor issues in organisation or language. Occasional errors do not impede understanding.
• Satisfactory (1.5–1.9): Meaning is mostly clear but writing may be repetitive, loosely structured or sometimes confusing. Errors are noticeable but not overwhelming.
• Unsatisfactory (0–1.4): Poor organisation and/or frequent language errors that make the argument difficult to follow.

4.3 Use of Economic Concepts and Theories (5 marks)

• • Excellent (4.5–5): Uses appropriate economic concepts and models accurately and confidently. Definitions are correct and concise. Theory is clearly and convincingly applied to the article’s context, including, where relevant, correct use of diagrams and related explanation.

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• Good (3.5–4): Uses relevant concepts with minor errors or gaps. Application to the article is generally sound but some links between theory and facts could be stronger.
• Satisfactory (2.5–3): Uses a limited range of concepts or uses them in a basic way. Some misunderstanding of theory and/or weak integration with the article.
• Unsatisfactory (0–2): Little or no correct use of economic concepts. Major misunderstandings or irrelevant theory.

4.4 Referencing and Use of Sources (2 marks)

• Excellent (1.5–2): Correct and consistent referencing of the news article and any additional sources. In‑text citations and reference list follow a recognised style. Sources chosen are appropriate and enhance the quality of analysis.
• Good (1.2–1.4): Mostly correct referencing with minor formatting issues. Sources are relevant and properly acknowledged.
• Satisfactory (1–1.1): Some referencing is evident but may be incomplete or inconsistent. Basic acknowledgement of sources is present.
• Unsatisfactory (0–0.9): Referencing is largely incorrect or missing. Sources are not properly acknowledged or are of poor quality.

5. Academic Integrity and Submission

• • You must submit your own original work. Collusion, plagiarism and use of contract‑cheating services are serious academic‑misconduct offences.
  • Your paper will be checked using text‑matching tools and other analytics in line with institutional policy.

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• Retain a backup copy of your submission and all notes until final grades are released.

6. Short Sample Answer

A well‑chosen news article on rising interest rates in Australia allows students to connect central bank decisions to shifts in aggregate demand, business investment and consumer spending in a concrete way. An effective 1,000‑word paper does not simply repeat the journalist’s narrative, but instead explains how higher policy rates increase the cost of borrowing, reduce planned investment and can shift the aggregate demand curve left in standard macroeconomic models. Clear diagrams support the argument when they are labelled properly and directly linked to real‑world outcomes such as slower GDP growth or higher unemployment risk. Strong critical thinking also requires questioning whether the article underestimates or overstates the lag between monetary policy changes and their effects on business conditions. Concise referencing of core HI5003 learning materials and at least one recent scholarly source signals that the discussion is grounded in accepted economic theory rather than opinion alone. Accurate application of concepts like price elasticity, expectations and transmission mechanisms tends to differentiate higher‑grade scripts in this type of postgraduate economics for business assessment.

7.  References

• Blanchard, O & Johnson, D 2019, Macroeconomics, 8th edn, Pearson, Harlow, https://www.pearson.com/en-gb/subject-catalog/p/macroeconomics/P200000007983/9781292269203.
• Krugman, P & Wells, R 2020, Microeconomics, 6th edn, Worth Publishers, New York, https://doi.org/10.4324/9781315101179.
• Mankiw, NG 2021, Principles of Economics, 9th edn, Cengage, Boston, https://www.cengage.com/c/principles-of-economics-9e-mankiw/9780357038314PF/.
• Reserve Bank of Australia 2023, ‘Statement on Monetary Policy’, RBA, Sydney, viewed 17 February 2026, https://www.rba.gov.au/publications/smp/.
• OECD 2022, ‘Economic Policy Reforms 2022: Going for Growth’, OECD Publishing, Paris, https://doi.org/10.1787/5f62c49f-en.