ECON1020-Principles of Economics Analyses – Economics Assignment Help

Assignment Task

Task

PART 1 | ACADEMIC CHEATING
Address Questions 1–6 within the maximum word count, which is the absolute maximum. Any number of words less than or equal to the maximum can achieve a high mark as long as you meet the standards in the rubric. Revise your discussions before submission to enhance brevity and clarity. Indicate the word count at the end of your answer to each question.

Question 1 
The conventional view that economics takes on cheating is that one decides to cheat when there is a positive economic rent to reap from cheating. Choose an action that is identified as ‘not okay’ from the Academic Integrity Module you completed on iLearn. Do the following:

• Analyse the economic cost and benefit of knowingly taking the academically dishonest action of your choice using the relevant framework from Unit 3 of the textbook.
• Based on your analysis, discuss briefly why someone would decide to knowingly cheat or not cheat on this assignment.

Question 2
Consider a representative university student who decides how much time to spend on study. Let us call this student Bruno, who has been using academic cheating websites for a year in order to ‘boost’ his performance. Somehow, he has not been caught once.
Now consider Angela, another representative university student who also decides how much time to spend on study. She has been a study group which helps her to keep up with the study material as well as to improve her time management and note-taking skills.
A year ago, both students studied 35 hours per week and achieved 65%. Currently, they study 32 hours per week and achieve 75%. Assume i) the two students faced the same feasible frontier a year ago, and ii) they have the same preference.

Do the following:

• Illustrate the effect of cheating on Bruno’s feasible frontier and his optimal decision using a fully labelled diagram where i) the horizontal axis represents the hours of free time per week, and ii) the vertical axis represents academic performance (measured out of 100).
• Illustrate the effect of using a study group on Angela’s feasible frontier and her optimal decision using another fully labelled diagram with the same axes as the previous diagram.
• Explain the key information of your diagrams. Obviously, let us assume that Bruno’s and Angela’s preferences are represented by indifference curves that satisfy the usual properties explained in Unit 3 of the textbook.

Question 3 
In recent years, the Australian government has allocated extra resources to police academic cheating at universities. In June 2020, a federally funded Higher Education Integrity Unit was established within the Tertiary Education Quality and Standards Agency (TEQSA). In July 2021, the unit successfully obtained federal court injunctions against academic cheating websites.1 The unit recently has reported that it is working with social media companies to remove pages and promotions for commercial cheating websites, as well as has developed additional anti-cheating resources.

Discuss how a policy effort such as what is described above would affect Bruno’s and Angela’s lives (current, not a year ago). Your discussion must:

• Refer to the diagrams you prepared for Question 2.
• Address the effect of this policy effort on i) Angela’s and Bruno’s feasible frontiers, ii) their optimal choice of free time and academic performance, and iii) their utility levels.

Question 4 
Discuss why one should not cheat on academic assessments based on what you wrote for Questions 2 and 3. You may refer to this interview article to enrich your discussion.
• Nickisch, Curt. “Industrial Espionage Is More Effective Than R&D”. Harvard Business Review. November 20162

Question 5 
Ponder upon the discussions you have made for Questions 1-4. Discuss whether your reasoning behind why one should not cheat (which you discussed for Question 4) can be categorised as a consequentialist or deontological approach. Optionally, check out the supplementary videos, located under this document on iLearn, to assist your discussion.

Question 6 
Discuss whether TEQSA’s effort to combat academic cheating websites brings about a Pareto improvement. In order to assist your discussion, consider all parties that are affected by this policy effort.

PART 2 | GROUP ASSIGNMENT DILEMMA
Address Questions 7–8 within the maximum word count, which is the absolute maximum. Any number of words less than or equal to the maximum can achieve a high mark as long as you meet the standards in the rubric. Revise your discussions before submission to enhance brevity and clarity. Indicate the word count at the end of your answer to each question.

Question 7 
Recall one of your or others’ experiences related to the group assignment (school or university) where it was difficult to ensure that every member exerts their best possible effort. Discuss why it was difficult. Your discussion must refer to 
i) Figure 4.7 from Unit 4 of the textbook (see below) and
ii) use the terminology related to the game theory. 

Question 8 
Discuss how to ensure each group member exerts a higher level of effort when preparing a group assignment. Your discussion must:
• Include at least one suggestion that draws upon the relevant ideas from Unit 4 of the textbook.
• Cite at least one reputable source from your own research to support your suggestion.

Use the source(s) to support your argument; do not simply quote the source. Include in-text citations as well as the full reference at the end of your answer: the former counts towards the word limit but the latter does not. Use a standard referencing system (e.g. Harvard style). You may use the following resources to help find reputable sources and cite them:
• Referencing guide from MQ Library website

PART 3 | LOTTERY WIN
Address Questions 9–10 within the maximum word count, which is the absolute maximum. Any number of words less than or equal to the maximum can achieve a high mark as long as you meet the standards in the rubric. Revise your discussions before submission to enhance brevity and
clarity. Indicate the word count at the end of your answer to each question.

Question 9 
Consider Alexei who makes $1,400 per week and just won a ‘set for life’ lottery ticket which involves a fortnightly payment of $10,000 for 20 years. Currently he works 35 hours per week. Now do the following:

• Illustrate the effect of the lottery win on Alexei’s budget constraint using a fully labelled diagram where i) the horizontal axis represents the hours of free time per week, and ii) the vertical axis represents Alexei’s weekly consumption.
• Illustrate on the same diagram Alexei’s optimal decisions before and after the lottery win along with his indifference curves.
• Based on your diagram, discuss whether Alexei will quit his job.

Question 10 
Is the lottery a fair way to allocate economic resources? Discuss, referring to both of the following:
• procedural judgements of fairness
• substantive judgements of fairness

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