MPE781 Economics for Managers - Assignment Help

Final Assessment Task – Open-book Proctored Online Exam·
DUE DATE AND TIME: The start date and time will be as per the University Exam T1 2022
Exam timetable available via StudentConnect.

PERCENTAGE OF FINAL GRADE: 60%
HURDLE DETAILS: 50% of the marks available on the examination

Exams Instructions

· The final assessment in the unit is an OPEN BOOK Proctored online exam using Proctorio.
· Use of on-screen calculator is ALLOWED (available in the quiz)
· The exam will be released in the CloudDeakin unit site under a dedicated Supervised Online Exam module at the date/time scheduled in the University Exam T1 2022 Exam timetable.
· You must complete the exam individually.
· The exam consists of 3 questions. Each question may have multiple parts. You must complete all parts of all questions. Please label each part, e.g., (a), (b), etc., clearly when answering each question.
· You should provide relevant diagrams (hand-drawn or digitally created) while answering the questions, if applicable
Procedure on diagram drawing: See the File Uploading Guide to download and view detailed instructions.
o Hand-drawn drawing(s) - Use your smartphone to take a clear photo of your hand- drawn drawing(s), save to your computer, rename the file, and then use the 'Insert Image' function to upload the image.
o Digitally created drawing(s) – Save the image to your computer, rename the file, and then use the ‘Insert Image’ function to upload the image.
o Please make sure that uploaded images show your drawing and any labelling in full and are readable.
o You will be able to view the image in the answer box when it is successfully uploaded.
· This is a 2-hour exam. You will have 2 hours 30 minutes to complete and submit your exam.
The extra 30 minutes is for reading time (15 minutes) and technical time (covers any minor technical issues you may experience during the exam process, 15 minutes).
· Proctored is online recorded supervision using Proctorio

• DO NOT click ‘Submit Quiz’ until you have completed all questions within this quiz or until the exam period is over.
  · Before you submit the quiz, if time permits, you will have the opportunity to return to questions that you may have missed or have not yet answered.
  · Do not expect to have time to look up resources during the quiz as this will slow you down and may prevent you from responding to all questions.
  · Please be aware that some quiz questions may require you to do some calculations. You can use a calculator, the on-screen calculator.
  · Keeping some paper and pen handy is also advisable for doing calculations, creating hand- written responses like drawing diagrams or showing the working to demonstrate how you arrived at an answer and also for rough work to facilitate your thinking on the exam questions.
  Accessing and completing the exam
  · On the day and time of the exam, go to
  · Content (from the unit site navigation menu)
  o Supervised Online Exam
  o T1 2022 MPE781 Exam
  · Enter your responses directly in the box under each question. Your response will be auto saved after answering each question in the quiz response box.
  · Respond directly to the questions asked. Do not copy information from study guides, textbooks, journals, or online sources. Make sure to compose all answers and related work on your own. If you use direct quotations from external sources, ensure you cite them correctly and put them in quotation marks.
  · For more information regarding proctored exam, please refer to the following link: Supervised Online Exam.
  Preparing for the exam
  The best way to prepare for the Open-book Online Proctored Exam is to:
  · Complete the Try-it-out exam to familiarize yourself with the Quiz assessment tool before starting your exam. You have two attempts for the Try-it-out exam. This is to ensure that you have the required hardware and software to sit the exam and are familiar with the process.
  You should:
  o Add the Proctorio Extension to your browser.
  o Do the Try-It-Out Exam as early as possible to allow you enough time to resolve any issues before taking your real exam.
  o Take the Try-It-Out Exam in the space you intend to sit your exam.

o Use the computer you will be using for the exam with Google Chrome or Microsoft Edge as your internet browser.
o Only need to do the Try-It-Out once if undertaking multiple units with a Supervised Online Exam.
o For more information, see:
o How-to-guide for Windows
o How to guide for Macs
o Tips to improve performance of your computer and internet
o Print out the Troubleshooting FAQs before the exam to assist yourself to resolve common issues.
· A reliable internet connection is vital for the exam. You will also need to have the appropriate computer hardware including a webcam and a microphone and the proctored software for undertaking the exam. If you do not have access to a computer or the internet, there is limited availability to sit the exam on campus. More information about applying to sit your exam on campus will be provided closer to the exam period.
· Know your unit material very well.
· Revise the unit material thoroughly and complete the revision as recommended by the unit chair. Before the exam, think about the content covered in the unit. Think about the type of questions which could be asked and prepare notes related to those questions.
· You are unlikely to have access to e-textbooks provided through the Deakin Library during your exam due to licensing constraints, therefore, you should prepare your own study notes in advance. In addition, CloudDeakin discussion forums will be closed 24 hours prior to the exam.
· There are a range of support available to students where individual plans and support can be arranged for you to successfully complete exam. Refer to Disability Resource Centre’s website for more information.
· This Open-book Proctored Online Exam contains problem-based, not research, questions. You can base your answers on the unit resources as provided/recommended and you will not be expected to look up other resources.
Getting help
· If you experience any technical difficulties during the exam period related to recording, contact Proctorio via webchat.
· If you have any technical difficulties accessing CloudDeakin/the exam, contact the Deakin IT Service Desk – please ensure you record your ticket number the IT Service Desk will provide as evidence of technical difficulties.
o Australia 1800 463 888
o International +61 3 5227 8888

Submission Details

· Once the exam is released the unit team is not permitted to answer any further questions. If you feel there are errors or other issues in the exam, you should briefly describe in your response any such issue and how you have dealt with it. For example, any assumptions you have made to help you derive the answer.
· You should not contact the unit team about the exam during or after the exam.
· Do not contact the unit team regarding any special consideration for this task. If you feel there are circumstances beyond your control that have affected your ability to complete this exam, then you must apply for Special Consideration. More information is available from this site: Special Consideration.

Academic Integrity
· All Deakin students are expected to act with academic integrity in accordance with the student academic integrity policy and procedure. This means you must submit your own work without input or assistance from anybody else.
· Your submission will be checked by electronic or other means for the purposes of detecting collusion and/or plagiarism.
· Your exam will be supervised via your webcam using Proctorio automated + recorded supervision.
· For more information about academic misconduct, special consideration, extensions, and assessment feedback, please refer to the document Your rights and responsibilities as a student in this Unit in the first folder next to the Unit Guide for the Content area in the CloudDeakin unit site.

Feedback
· Trimester 1 results will be released as per the Trimester 1, 2022 University calendar.
· Written feedback is not provided on exams.
· You can make an appointment with the unit chair to receive general feedback on your exam following the result release.

Practice exam (remotely proctored)

QUESTION 1 Marks: (6+6+6= 18 )

1)Suppose that the government imposes a tax on cigarettes to reduce smoking.

1. should this tax be imposed on sellers or buyers? explain using both words and a diagram.
2. Will this tax be more effective or less effective in reducing cigarettes consumption if the demand for cigarettes is relatively inelastic? (Hint: Draw two figures, side by side, with the same supply curve and different demand curves.)
3. Who is going to bear greater tax burden, buyers, or seller, if the demand for cigarettes is relatively inelastic? Explain with the help of a figure.

Question 2 ( marks 9+9 = 18 )

Using the AD/AS model, discuss the; likely short -run and long -run impacts of the following events with proper figures, assuming that the government takes no further action:

1. A pandemic that leads to drastic fall in investment confidence (starting from the full- employment level)
2. Contractionary monetary policy in which the interest rate is raised starting below the full employment level)

Question 3 ( marks: 8+8+8= 24)

The amounts of money $ spent by sample of 14 students for their breakfast this morning are :

                     10,9,7,5,10,9,10,3,5,7,8,7,7,10

1. calculate the sample mean, median, and mode. Interpret these values, what type of distribution does it represent, symmetric, skewed to the right or skewed to the left?
2. Calculate the sample standard deviation. Interpret this value.
3. Perform a hypothesis test that the population mean is equal to zero, using a z – test.