This model indicate indicates the modeling COVID-19 outbreaks and responses from government policies with the effect on the local economy. Model was occurred at Burnie, Tasmania. The model mainly contains three parts: COVID-19 pandemic outbreak, four differences government policies and what the impact on economy from those policies.

Assumptions:

(1) Various variables influence the model, which can result in varied outcomes. The following values are based on an estimate and may differ from actual values. Government initiatives are focused at reducing Covid-19 infections and, as a result, affecting (both positive and negative) economic growth.

(2) 42% of infected people will recovery. 10% of people who are infected will die and the rate relatively higher due to the much old people living in Burnie, Tasmania.

78% of cases get tested.

(3) Government policy will only be implemented when there are ten or more recorded cases. Four government policies have had influences on infection.  

(4) The rising number of instances will have a negative impact on Burnie's economic growth.

Insights:

1. As a result of the government's covid 19 rules, fewer people will be vulnerable. Less people going to be susceptible.

2. After the government policy intervention, there is a effectively reduce of infected people.

3. Overall, there is no big differences of economic performance from the graph, might due to the positive and negative effect of economy. And after two weeks, the economy maintained a level of development without much decline.

Modern industrial civilisation has created massive interdependencies which define it and without which it could not function. We all depend on industrial farming to produce the food we eat, we depend on gasoline being available at the gas station,  on the availability of electricity and even on the bread supplied by the local baker. Naturally, we tend to support the institutions that supply the amenities and goods to which we have become accustomed: if we get our food from the local supermarket, it is likely that we would be opposed to it’s closure. This means that the economic system that relies on continuous growth enjoys implicit societal support and that nothing short of environmental disaster or a shortage of essential raw materials will impede it’s growing indefinitely. It is not hard to work out the consequences of this situation!

This model is based on the article Dynamic modeling of Infectious Diseases, An application to Economic Evaluation of Influenza Vaccination Farmacoeconomics 2008, 26(1): 45-56 .

And EBOLA

From Neil WIlson and Steve Keen's double entry accounting view of the money circuit model