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Assignment 2

ECON1012 Principles of Economics Semester 2 2025

Course Learning Outcomes: 1, 2, 3, 4 & 5

Topic/s of Primary Focus:

Government Intervention in Markets

(May also include content from previous topics.)

Read the article for context:

Yosufzai, R (2025) Australians in these areas will soon pay the same for grocery

staples as everyone else, SBS News, 10 February, viewed 7 August 2025,

https://www.sbs.com.au/news/article/australians-in-these-areas-will-soon-pay-the- same-for-grocery-staples-as-everyone-else/fwlxpwx1t.

Task:

First, briefly explain why the price of grocery staples in remote communities will tend

to be higher than the price of grocery staples in cities.

Lowering the prices of grocery staples in remote communities would clearly be

desirable for many reasons including community health and wellbeing. A price cap (or

price ceiling) on grocery staples in remote communities imposed at the price levels of

cities could be a simple policy proposal to address this.

Though the Government primarily communicated the policy as ‘price caps’, the actual

implementation is more complex and involves subsidies to the businesses

participating.

Your task is to explain why a ‘price cap’ would likely not be an effective policy on its

own.

To do this, use the demand and supply based model of price ceilings (and associated

diagrams) studied in this course, explain the likely impacts of the implementation of

such a price ceiling (and no other policies), and discuss the pros and cons of such a

policy.

Format:

The format of your response should be a concise essay-style response.

You do not need subheadings or subsections.

You do not need to spend as much attention on formal essay structure as you might

for a persuasive or research-based essay. You should focus on communicating your

ideas in a clear and concise manner and making sure there is a logical flow of ideas

and explanation.

Word Limit:

800 words

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Diagrams:

As stated in the task, you should include diagrams where relevant. Where you use

diagrams, they should be created by you. You could either draw them by hand and

scan/photo them into your document, or prepare them electronically. They must be

your own work. You should not paste in diagrams from the internet or the textbook,

even with referencing, as this will not adequately show the grader your understanding

of these diagrams and models.

Referencing, Academic Integrity, and Plagiarism

This is not a research assignment. So you do not necessarily need to find other

references. You should answer the question based on what you have learned in the

course and the article/s provided.

However, it is important that if you do take content directly from other sources

including course materials, both quoting and paraphrasing, that you appropriately

reference to show what is your own original thoughts and what ideas you have

borrowed from others.

Please refer to sources such as the MyUni Academic Integrity module and

https://www.adelaide.edu.au/student/academic-skills/academic-integrity-for- students for further guidance and links regarding referencing, plagiarism, and

academic integrity.

Where referencing is used, it can be in any standard style, so long as it is consistent.

The Harvard referencing style is preferred, as it is the standard in Economics and is

also common in Business disciplines.

https://www.adelaide.edu.au/writingcentre/resources/referencing-guides

All submissions will be analysed with the assistance of Turnitin, checking for

plagiarism against other students in the class and external sources.

Use of Generative Artificial Intelligence tools

Students should be aware of the University’s guidelines around the use of generative

AI tools in the preparation of graded assignments.

See: https://www.adelaide.edu.au/student/academic-skills/working-with-artificial- intelligence

For this assessment task, AI is permitted to be used for support such as checking or

clarifying your own original ideas. It can also be used as an editing tool, to help you

make improvements to the clarity or quality of your work, including spelling and

grammar checks, and feedback on the style, tone and conciseness of your writing. For

editorial support, you can for example use Studiosity Writing Feedback Plus.

AI can be used to support you to improve your work, but the work submitted should be

your own work, your own words and reflect your own understanding. Should you

submit work wholly or partially produced by generative AI as your own, or without

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appropriate attribution, you may be in breach of the Academic Integrity policy. If you

are unsure, please seek advice from Academic Integrity support staff or course

academic staff prior to submission.

While you may also use translation tools to improve the clarity of your language or

assist in finding the correct words, you should not rely too heavily on these such as by

writing your assignment in a language other than English and putting the entire

document through a translation software. Ultimately, the submitted words must be

your own and reflect your own understanding, including of course terminology.

Submission and Feedback

Students must submit the assignment by the due date via the electronic submission

portal on MyUni (the same page you downloaded this pdf).

https://community.canvaslms.com/t5/Student-Guide/How-do-I-upload-a-file-as-an- assignment-submission-in-Canvas/ta-p/274

It is students’ responsibility to ensure that it is correctly submitted by the due date.

Make sure that you see and check that is says ‘Submitted’.

Late submissions will generally *not* be accepted at all. Not even one minute late.

This might seem more strict than some of your other classes, but do keep in mind that

we also have a ‘best 4 of 5’ policy on the Summative Assignments.

If you have a medical or other circumstance that you believe may allow an extension,

please refer to course procedures and information here:

https://myuni.adelaide.edu.au/courses/103011/pages/assessment- overview module_item_id=3658844

Grades and feedback will be provided within MyUni approximately one week after the

submission due date.

Grading

The assignment will be graded against the Assessment Criteria in the Rubric attached

to the MyUni Assignment and detailed below.

Grades will be allocated in-line with the University’s grade descriptors.

Score (%) Grade General Description

0-49 F Fails to satisfy the minimum requirements

50-64 P Satisfies the minimum requirements

65-74 C Demonstrates a high level of understanding and presentation

and a degree of originality and insight

75-84 D A very high standard of work which demonstrates originality

and insight

85-100 HD Outstanding or exceptional work in terms of understanding,

interpretation and presentation

Your grade is not matter of where you ‘lost marks’, but rather the evaluation of what

you have presented against the standards and the criteria.

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Assessment Criteria Marks (100)

Evidence is shown of understanding of all relevant economic concepts

and terminology, which are correctly applied throughout

25

Details of case study are clearly and correctly related to relevant

economic concepts, including with appropriate terminology

10

Student-produced demand and supply diagram/s are correctly

depicted and are used wherever relevant to support the explanation

30

Analysis presented provides a logical and well-structured explanation

of expected market outcomes and impact on relevant parties

30

Appropriate writing style, word count and referencing (where

relevant)

5