Assignment Task
Task Details:
Task 1: Context
In this part of the essay you will articulate what the issue is, I.e., provide the context (see Criterion 1 of the CRA sheet).
You need to present an informed discussion which is supported by peer reviewed published research and data from reputable sources:
• a brief overview of the costs to the Australian economy and society of the pandemic
• a discussion of the rationale of the vaccination policy, supported by research and data, i.e., why vaccinate? what is it expected to achieve?
This section will require you to present and interpret data visually such as in tables or graphs that you have developed yourself (i.e., not copied from other sources).
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Get Help Now!Task 2: Theory
In this part of the essay you need to address the relevant economic theory (see Criterion 2 of the CRA sheet). First, how can economic theory explain the government providing the vaccination free of charge, to facilitate the uptake of vaccinations? The answer is to do with market failure, specifically positive externality. Using a diagram (see Figure 11.2(a) in the textbook, p.337) explain why there is a difference between the private benefit curve and the social benefit curve.
Secondly explain the likely shape of the demand curve and the uptake if left to the market – i.e., individuals paid for vaccines – and how the demand curve will be shifted with the free provision of the vaccine by the government. Note that public health experts advocate more than 90% of the population be vaccinated in order to achieve herd immunity.
Thirdly explain what shape the supply curve would be given the limited number of suppliers of the vaccine. Note that the cost of providing the vaccine free to the public is borne by the government.
This section will require you to present graphs that you have developed yourself.
Task 3: Critical analysis
In this part of the essay you need to provide critical analysis of your findings (see Criterion 3 of the CRA sheet).
You do not need to do this separately from Task 2 – you can add the analysis to your explanations of the theory. Based on your context in the first task and your explanation of the associated theories, analyse the importance of the government providing the vaccinations free and why the government is justified in its approach, i.e., to correct market failure. Linked to this, analyse the challenges to achieving a successful vaccination roll out and the consequences of not doing so.
This includes government obtaining the required doses of the vaccine. You may discuss the impediments that the government is experiencing in obtaining the required vaccines for Australia. Draw on the recommended readings and your own research findings to help you make the analyses.
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