This is a sample model of Covid-19 outbreak in Burnie, Tasmania showing how the Government responds by implementing relevant health policy and the effects on the Economy of the area.
Assumptions
Economic growth rate is dependent on the proportion of the population who can be exposed. Number of COVID cases negatively impacts the economy. Govt policy is triggered when COVID-19 cases are 10 or more.
Interesting Insights
1) Exposure to the disease has a positive relationship with economic growth rate because the more people goes out, more business activity takes place, resulting in Economic Growth.
