This model aims to show that how the Tasmania government's COVID-19 policy can address the spread of the pandemic and in what way these policies can damage the economy.
Assumption:
Variables such as infection rate, death rate and the recovery rate are influenced by the actual situation.
The government will implement stricter travel bans and social distant policies as there are more cases.
Government policies reduce infection and limit economic growth at the same time.
A greater number of COVID-19 cases has a negative effect on the economy.
Interesting insights:
A higher testing rate will make the infection increase and the infection rate will slightly increase as well.
Government policies are effective to lower the infection, however, they will damage the local economy. While the higher number of COVID-19 cases also influences economic activities.