ASSESSMENT EXEMPLAR WITH GUIDE FOR INSTRUCTORS:
FREE TRADE AGREEMENTS
Topic:
☐Microeconomics
☒Macroeconomics
☐Statistics/Econometrics
Learning domains:
☒Knowledge
☒Application
☒Data analysis
☒Communication
☒Reflection
Core concepts:
Comparative advantage; Free trade
agreements; gains from international
trade, international trade agreements
Type(s) of task (can be more than one)
☐Constructed response given stimulus material
(clip/narrative/etc.)
☒Constructed response with no stimulus material
☒Quantitative analysis
☒Independent data sourcing
☒Independent research (not data sourcing)
☒Written presentation
☒Oral presentation
☒Group collaboration
☐Use of nominated maths/stats software (specify):
☐Use of other technology (specify):
☐Other (specify):
________________________________________
This assessment item is about Free Trade Agreements and is designed to assess the student’s
understanding of the types of international trade agreements and the theory of comparative
advantage. The assessment would be suitable for an undergraduate course in macroeconomics or
international economics (years 1 or 2). An extended version for Masters level students is also
provided. Bachelor students will be able to provide a clear coherent written report on their research
on the industries most likely to win or lose from the India Australia free trade agreement. Masters
students will be expected to utilise quantitative research techniques to a greater extent and provide a
more detailed analysis of specific industries likely to be affected by the India Australia Free Trade
agreements.
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Bachelors level task
You are employed as an economist policy advisor with the Department of Foreign Affairs and Trade
(DFAT).The Department has recently appointed a new senior official who will oversee the
negotiations of the India Australia Free Trade Agreement. As policy advisor you are expected to
prepare media briefs, economic reports and ministerial briefing papers. This assignment requires you
to prepare a portfolio of your works. Attachments are permitted and should be referred to where
additional detail is required. The components of the portfolio should be written concisely with each of
the various tasks marked clearly. The report should be properly referenced using the Harvard system
of referencing.
Tasks
Your portfolio includes the following tasks.
1. Media Brief: Write a media brief on the ‘expected outcomes of the India Australia Free Trade
Agreement’. Producing a successful media brief entails conveying technical information in a way
that is easily understood by the general public. Explain what constitutes a free trade agreement
(contrast FTAs to other types of trading blocs) and how comparative advantage can be used to
predict the types of goods and services that will be traded. Comment on likely goods or services
India and Australia will trade under an India Australia Free Trade Agreement. For this part of the
portfolio you are expected to provide a copy of your media brief (800 WORDS) [KB1, CB1,RB3]
2. Economic Analysis (Short Report): Drawing on your expertise as an economist you are
asked by the Senior Official to identify Australian industries that are likely to be positively or
negatively affected by the India Australia Free Trade Agreement. You are required to explain
and justify your response, using the theory of comparative advantage. Your analysis makes use
of empirical data to clearly demonstrate which broad Australian industries currently have a
comparative advantage and which broad Indian industries have a comparative advantage. The
report should include an executive summary, introduction, body and conclusion. Provide the
sources for your research. (2000 words). [AB1, RB1, RB2]
3. Ministerial Briefing paper: Based on your economic analysis, the Minister has requested an
assessment of the benefits, costs and any other impediments to the India Australia Free Trade
Agreement and expects you to draw a conclusion on whether you think the India Australia Free
Trade Agreement will be beneficial. (1500 words) [AB1, RB3, CB1]
2
Masters level task
Section 1 may be amended as follows for Masters students.
1. Media Brief: Write a media brief on the ‘expected impact of the India Australia Free Trade
Agreement’. Explain the India Australia Free Trade Agreement and identify, using the theory
of comparative advantage which broad industries (in either India or Australia) are likely to
benefit from the Agreement over the next five years and which are likely to lose. Ensure that
your media brief is professional and uses language suitable for non-experts. (800 words).
[KM1, CM1, RM2]
Section 2 may be amended as follows for Masters students.
2. Economic Analysis (Report): Drawing on your expertise as an economist you are asked by
the Senior Official to research and identify likely trends in key Australian industries that are
likely to be positively or negatively affected by the India Australia Free Trade Agreement.
Justify your choice of key industries using the theory of comparative advantage. Your analysis
makes use of empirical data to demonstrate why these industries have or do not have a
comparative advantage. Examine historical trends and expected future trends after the India
Australia Free Trade Agreement in a few key industries of your choice, using an appropriate
empirical technique. Comment on the benefits or any adverse consequences for the industries
concerned or broader economy. Provide an explanation of any empirical techniques used and
reference data researched. Structure your report to include an executive summary,
introduction, body, conclusion and relevant appendices. (4000 words). [AM2,AM3,KM1,DM1,
DM2,CM1]
Section 3 may be amended as follows for Masters students.
3. Ministerial Briefing paper: Based on your economic analysis, the Minister has requested an
assessment of the benefits, costs and any impediments or controversial aspects (such as
resource use, environmental effects, employment effects, or the impacts of investor state
dispute settlement clauses) to the India Australia Free Trade Agreement. Draw a conclusion on
whether you think the India Australia Free Trade Agreement will be beneficial. (2000 words)
[RM1, RM2, RM3, CM1]
Advice to assessors
The assessment item is suitable for individual assessment or a group work setting.
The assessment item may be shortened by omitting section 1 or section 3 and / or reducing word
requirements. Section 1 is optional. Students may be asked to provide a written report (section 2) and
make an oral or visual presentation based on their report, that is, instead of what would otherwise be
the media brief (section 3). Presentations can be required in the form of slideshows or innovative
group videos. This assessment item can also be undertaken as group work.
Re Task 1 – Media Brief, advice should be given to students about the style of communication
required for non-specialist audiences and the need to avoid the use of economic jargon that a general
media audience may not understand.
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Learning
domain
Learning outcomes
Bachelor Degree
Masters Degree
Knowledge
KB1 Bachelor graduates will be able to
identify, coherently explain and synthesise
core economic concepts
KM1 Masters graduates will be able to
identify, coherently explain and synthesise
core and advanced economic concepts,
including recent developments in the
discipline
Application
Bachelor graduates will be able to:
Masters graduates will be able to:
AB1• frame problems in terms of core
economic concepts and principles
AM1• frame and critically analyse problems in
terms of core and advanced economic
concepts and principles
AB2• apply economic reasoning and
analytical skills, in order to make informed
judgments and decisions
AM2• apply advanced economic reasoning
and analytical skills, including quantitative
techniques where appropriate, in order to
make informed judgments and decisions
AM3• plan and execute a research-based
project
Data analysis
Bachelor graduates will be:
Masters graduates will be able to:
DB1• able to use economic data to address
typical problems faced by economists
DM1• select and apply an appropriate
empirical method to address typical problems
faced by economists
DB2• aware of, and able to implement,
basic empirical techniques and interpret the
results
DM2• critically evaluate the results
Communication CB1 Bachelor graduates will be able to
present a clear and coherent exposition of
economic knowledge, ideas and empirical
evidence both orally and in writing,
individually or in collaborative contexts
CM1 Masters graduates will be able to
communicate complex ideas clearly and
coherently, in written form and interactive oral
form to expert and non-expert audiences,
individually or in collaborative contexts
Reflection
Bachelor graduates will be able to reflect
on:
Masters graduates will be able to reflect on
and evaluate:
RB1• the nature and implications of
assumptions and value judgments in
economic analysis and policy
RM1• the nature and implications of
assumptions and value judgments in
economic analysis and policy
RB2• interactions between economic
thinking and economic events, both
historical and contemporary
RM2• interactions between economic thinking
and economic events, both historical and
contemporary
RB3• the responsibilities of economists and
their role in society
RM3• the responsibilities of economists and
their role in society
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