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2.Explain what a Nash equilibrium is using an example from everyday life.

3.Use topics we learned in game theory to explain why it is hard for states in the U.S. to coordinate on when to fully re-open for business.

4. Why is the fundamental tension in games of incomplete information?

5. Explain the difference between a pooling equilibrium and a separating equilibrium, and explain why these types of equilibria appear in games of incomplete information.

 

6. Can you think of an example where a pooling equilibrium is preferred to a separating equilibrium?

7.When you apply for jobs, why do you have to signal to employers? Why is this a problem for employ- ers, and what might might they do in response?

9. Remember the work we did on price discrimination? Explain a) why price discrimination is a prob- lem of incomplete information (be sure to explain who knows or doesn’t know what) and b) how firms screen to try solving the problem.

11. Word of your show is setting Tinseltown on fire and every studio is competing for your signatures. Producers wine-and-dine you. One group takes you out to dinner at the hot new pita joint, It’s a Wrap!; another takes your co-author out to the BBQ stalwart Burger, She Wrote. It’s a classic showbiz conundrum: with all this money on the line, both of you could tell producers you equally share the credit for the idea (C ), or both of you could claim all the credit alone (D). On the way to the dinner, you jot down this payoff matrix:

(a) What is the Nash Equilibrium of this game and why?

(c) Even if your series is picked up, you worry about your co-author dropping hints around town that they are the real brains in the team. Of course, if they did, you would be forced to follow the advice of the working title of your coloring book Grim Trigger and do the same. So if your series was picked up, would it better to know when exactly how many seasons it would run? Or would it be better to be uncertain? Explain.

 

(a) What are the Nash equilibria?

(b)Which (if any) equilibrium(a) is/are risk dominant? (Use math.)

(c)What minimum belief do you need in your co-author to commit to the original storyline?

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Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

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1) What are the two tools of fiscal policy that governments can use to affect the level of aggregate demand?

A) government spending and taxation

B) government spending and technology improvements

C) taxation and controlling imports

D) taxation and controlling exports

2) A decrease in the personal income tax rate __?__ disposable income which __?__  consumption.

A) increases; increases    C) increases; decreases

B) decreases; decreases    D) decreases; increases

3) What is the reason that Fiscal Policy stabilization policies do not have an immediate effect on an economy?

A) Consumers are slow to catch up on spending.

B) There is a time lag for policies to take effect.

C) Imports come into the country too fast.

D) Exports often are not shipped fast enough.

4) The idea that a $1 increase in infrastructure spending will generate $1.57 in economic growth is a representation of

A) the multiplier effect.    C) an outside lag.

B) an inside lag.              D) an automatic stabilizer.

5) Suppose initially the federal budget is balanced. The economy then enters a period of expansion. What is likely to happen to the federal budget?

A) It will show a surplus.    C) It will show a deficit.

B) It will remain balanced.    D) It will automatically stabilize.

6) Suppose an economy has a balanced federal budget, and a large increase in oil prices plunges the economy into a recession. Tax revenues will ________ and expenditures     on transfer payments will ________, resulting in a budget ________.

A) fall; increase; deficit    C) increase; increase; surplus

B) fall; fall; deficit        D) increase; fall; surplus

8) When money is accepted as payment for a good or service, it is being used as a

A) medium of exchange.    B) store of value.    C) unit of account.

D) a mechanism for transforming current purchases into future purchases. 

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• Analyse and communicate knowledge of the auditor’s professional judgement, legal and ethical responsibilities to their clients and third parties

• Assess audit strategies including the evaluation of business risk and internal controls

• Apply audit concepts and processes to gather evidence and formulate judgments with respect to the underlying information 

2. Explain your selected company’s (same selected company from part A) and prepare the following responses about the application of audit committee effectiveness recommended by ASX Corporate Governance Council (CGC) principles using Corporate Governance Principles and Recommendations (4th Edition) was released on 27 February 2019?(10 marks)

i. Members of the audit committee meet all applicable independence requirements.

ii. The audit committee demonstrates appropriate industry knowledge and includes a diversity of experiences and backgrounds.

iii. Audit committee members have the appropriate qualifications to meet the objectives of the audit committee ‘s charter, including appropriate financial literacy.

iv. Discuss about audit committee size and members profile.

v. Discuss about meeting arranged by audit committee chairman and whether member participate actively?

vi. The audit committee monitors compliance with corporate governance regulations and guidelines.

• The Executive summary should be concise and not involve too much detail.

• It should make commentary on the main points only and follow the sequence of the report.

• Write the Executive Summary after the report is completed, and once you have an overview of the whole text.

• The Executive Summary appears on the first page of the report.

3. Contents Page – This needs to show a logical listing of all the sub-headings of the report’s contents. Note this is excluded from the total word count.

4. Introduction – A short paragraph which includes background, scope and the main points raised in order of importance. There should be a brief conclusion statement at the end of the Introduction.

5. Main Body Paragraphs with numbered sub-headings – Detailed information which elaborates on the main pointsraised in the Introduction. Each paragraph should begin with a clear topic sentence, then supporting sentences with facts and evidence obtained from research and finish with a concluding sentence at the end.

6. Conclusion – A logical and coherent evaluation based on a thorough and an objective assessment of the research performed.

7. Appendices – Include any additional explanatory information which is supplementary and/ or graphicalto help communicate themain ideasmade in the report. Referto the appendicesin the main body paragraphs, as and where appropriate. (Note this is excluded from the total word count.

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Review the audited annual report (2020) including financial statements presented to the shareholders for your respective company and answer the questions below:

1) Conduct an analytical review on the financial statements of your company in the planning phase and identify areas of concern and how relevant accounts and assertions are impacted. Justify your answer. All calculations should be included as an appendix to the written report. (4 Marks)

2) You are now required to formulate the relevant audit procedures to respond to the areas of concern identified in Part (1). (4 Marks) 

KBS values academic integrity. All students must understand the meaning and consequences of cheating, plagiarism and other academic offences under the Academic Integrity and Conduct Policy.

What is academic integrity and misconduct?

What are the penalties for academic misconduct?

What are the late penalties?

How can I appeal my grade?

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Detailed Assignment instructions

Students are to write a research proposal for a Master by Research Degree of no more than 3000 words in total. If the project is of a quantitative nature (e.g., archival data analysis or content analysis), include a pilot test of the feasibility of the research project (using no more than five (5) observations). If the project is of a qualitative nature, include indicative survey or interview questions.

The proposal should include:

• A proposedtitle
• A description of the problem to be addressed and the ‘researchgap’
• A brief literature review describing the research problem andgap
• The research question
• The theoretical / conceptual framework to beemployed
• The method to beused
• The data to becollected
• The pilot study or interview/surveyquestions
• The expected contribution of theresearch

In terms of the expected originality of the topic, you may find it useful to see the expectations of a Master by Research at: http://www.swinburne.edu.au/research/research-degrees/degrees-programs/master-by-research/

An extract of these expectations relevant to your Assignment task is set out below:

A Master by Research degree requires you to demonstrate mastery of inquiry in a field of a discipline or profession.”

A Master by Research candidate is expected to:

1. plan a research project orprogram

2. understand relevant techniques in the field demonstrated by a comprehensive review of the literature

3. understand how to access key data in relevantfields

4. present expected outcomes clearly and”

That is, you need to write a proposal as though you were going to undertake research on a topic of your choice, but not actually conduct the research. When someone is interested in pursuing a higher degree by research (Master or PhD), to apply for entry a proposal such as this is a requirement. You may never be interested in applying for such a degree, but the skills in achieving ‘mastery of inquiry in a field’ and writing a proposal are transferable and useful to develop.

Rubric

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• Information on the bakery

• A list of acquisitions and disposals of assets; and

• Details on other income Each of these is reproduced below.

Information on the bakery

• Sole trade business established on 1 June 2018

• Billy has six employees, including his wife Bessie; and

• The business begins trading from rented premises. Profit and loss accounts for the first two trading periods Seven-month period

to Year to Notes 31 Dec 2018 31 Dec 2019

£ £ Sales 299,935 337,669

Cost of sales 1, 2 (138,321) (119,978)

Wages 3 (61,500) (92,400)

Light and heat (4,163) (7,216)

Motor costs 5 (4,320) (5,462)

Entertaining 6 (2,640) (2,770)

Bank overdraft interest (2,750) (2,015)

2. Cost of sales in the second period also includes £450 costs that relate to bakery products taken home by Billy to cater for a family Christmas party. You establish that Billy normally manages to mark up costs by 20% when selling to customers.

3. Included within wages are amounts of £200 per month which Billy takes as a salary and £100 per month paid to Billy’s wife Bessie who tries to keep clerical records of the bakery’s business.

4. Bad debts in the two periods are made up as follows: Period to Year to 31 Dec 2018 31 Dec 2019

£ £ Set up of specific provision 750

Set up of general provision 1,000

Movement in specific provision 180

Movement in general provision (220)

Write off of bad debts 21095

5 Within motor costs Billy has included the running costs of the Ford Focus used in the business. You find mileage records for the vehicle which show that in the first period it was used 20% privately and in the second period it was used 40% privately. The running costs amounted to £2,600 and £4,000 for the two periods. The car has CO2 emissions of 103g/km. In addition, Billy leased an estate car (list price £20,000) to deliver products to customers. The lease commenced on 1 October 2019 and cost £370 per calendar month. There was 100% business use of the vehicle. The estate car has CO2 emissions of 174g/km.

16.7.18 Purchase of oven (see note 7 above) 18,000

20.7.18 Energy-saving equipment 3,000

1.12.19 Disposal of kitchen equipment (original cost £3,500) 1,200.

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