Description
The model shows Covid-19 situations in Burnie, Tasmania. Under such circumstances, how the state government deals with the pandemic and how economy changes will be illustrated. The relationship between government policy and economic activities under Covid-19 outbreaks will be explained through different variables.
Assumptions
Government policy negatively affects Covid-19 outbreaks and economic activities.
Covid-19 outbreaks also has negative effects on economic growth.
Parameters
There are several fixed and adjusted variables.
1. COVID-19 Outbreaks
Fixed variables: infection rate, recovery rate
Adjusted variables: immunity loss rate
2. Government Policy
Adjusted variables: lockdown, social distancing, testing, vaccination
3. Economic impact
Fixed variables: tourism
Adjusted variables: economic growth rate
Interesting Insights
Tourism seems to be the most effective way to bring back economic growth in Tasmania, and it takes time to recover from Covid-19.
Government policies tend to have negative influences on economic growth.
