Assessment task 2
Individual Essay
1500 words
To develop your familiarity with the language and tools of
economic analysis and reasoning by critically analysing a
contemporary issue.
LO1, LO2, LO3, LO4, LO5
On 23 February 2017, the Australian Fair Work Commission (AFWC) handed down a decision to
vary certain penalty rate provisions in some awards for the hospitality, restaurant and retail
industries. Workers in fast food or hospitality will have Sunday penalty rates reduced by 5 per cent
this year, and 10 per cent in both 2018 and 2019 bringing the final rate down to 125 and 150 per
cent respectively. Retail or pharmacy sector workers will have their take-home Sunday pay cut by
5 per cent this year, but then it will reduce by a further 15 per cent every year until 2020.
Do you believe that this decision will harm or help the Australian economy in general? Use at least
three economic theories you have studied in this unit to justify your answer.
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