The first part of your essay will be essentially descriptive and will contain key economic concepts.
· Define – income distribution - possibly as opposed to wealth distribution.
· Describe the trend in income distribution over a period of time. Use data to support your assertions. You will need to interpret and explain how income distribution is measured – refer to the Gini Coefficient and Lorenz curve.
· Briefly identify the factors that may determine income (e.g. the marginal productivity theory of income) in an economy and factors that may have contributed to the recent trend in income distribution. In this section identify the government policies that have been used to achieve a more equitable distribution of income. For example in Australia you would discuss the tax/ transfer system (e.g. progressive tax, direct and indirect benefits).
In the second part of the essay there needs to be explanation of why governments may pursue policies to achieve a more equitable distribution of income and an evaluation of some of the key policies used to create a more equitable distribution of income. In this section to achieve the marking criteria you may also discuss such issues as;
· the shortcomings of the data in determining income distribution and evaluating the policies,
· the difficulties in developing policies aimed at achieving a more equitable distribution of income ) or whether income distribution should be a government policy focus.
Remember to address the following criteria in their analysis. “Convey an understanding of the challenges facing economists, through the application of economic theory/models to real world events and in the development of economic policy”
Keys things to note - Files attached are some useful information
- low plagiarism
- deadline 1 November
- 2000 words +/- 10%
- Writing Formats ( Chicago Style Referencing) - kindly follow as attached below