A sample model for class discussion modeling COVID-19 outbreaks and responses from government with the effect on the local economy.  Govt policy is dependent on reported COVID-19 cases, which in turn depend on testing rates less those who recover
AssumptionsGovt policy reduces infection and economic growth in the same way.
Govt policy is trigger when reported COVID-19 case are 10 or less.
A greater number of COVID-19 cases has a negative effect on the economy.  This is due to economic signalling that all is not well.

Interesting insights
Higher testing rates seem to trigger more rapid government intervention, which reduces infectious cases.  The impact on the economy though of higher detected cases though is negative. 

COVID-19 Burnie Tasmania BMA708 Economy

This Model was developed from the SEIR model (Susceptible, Enposed, Infected, Recovered). It was designed to explore relationships between the government policies regarding the COVID-19 and its impact upon the economy as well as well-being of residents. 

Assumptions:

Government policies will be triggered when reported COVID-19 case are 10 or less;

Government Policies affect the economy and the COV-19 infection negatively at the same time;

Government Policies can be divided as 4 categories, which are Social Distancing, Business Restrictions, Lock Down, Travel Ban, and Hygiene Level, and they represented strength of different aspects;

 

Parameters:

Policies like Social Distancing, Business Restrictions, Lock Down, Travel Ban all have different weights and caps, and they add up to 1 in total;

 

There are 4 cases on March 9th; 

Ro= 5.7  Ro is the reproduction number, here it means one person with COVID-19 can potentially transmit the coronavirus to 5 to 6 people;

Interesting Insights:

Economy will grow at the beginning few weeks then becoming stagnant for a very long time;

Exposed people are significant, which requires early policies intervention such as social distancing.

COVID-19 Burnie Tasmania BMA708 SIR Model Economy After Pandemic Well-being

Simple epidemiological model for Burnie, TasmaniaSIR: Susceptible to infection - Infected - Recovery, Government responses and Economic impacts  

Government policy is activated when there are 10 or fewer reported cases of COVID-19. The more people tested, the fewer people became infected. So the government's policy is to reduce infections by increasing the number of people tested and starting early. At the same time, it has slowed the economic growth (which, according to the model,  will stop for next 52 weeks).

COVID-19 Coronavirus SIR Model Government Economy Burnie Tasmania UTAS BMA708

This model shows the COVID-19 outbreaks in Burnie and the Government intervention to alleviate the crisis and also how is the intervention affect the economy.
It is assumed that the Government intervention is triggered when the COVID-19 case is equal to or more than 10. 
Government intervention - lock down the state, suppress the development of COVID-19 effectively. It is related to most of people stay at home to reduce the exposure in public area.On the other hand, it also bring the economy of Burnie in the recession, as no tourists, no dining out activities and decrease in money spending in the city.

BMA708 COVID-19 Burnie Economic Impacts

Description:
This is a system dynamics model of COVID-19 outbreak in Burnie which shows the process of infections and how  government responses, impact on the local economy.  
First part is outbreak model, we can know that when people is infected, there are two situations. One is that he recovers from  treatment, but even if he recovered, the immunity loss rate increase, makes him to become infected again. The other situation is death. In this outbreak, the government's health policies (ban on non-essential trips, closure of non-essential retailers, limits on public gatherings and quarantine )  help to reduce the spread of the COVID-19 new cases. Moreover,  government legislation is dependent on  number of COVID-19 cases and testing rates. 
 Second part: the model of Govt legislation and economic impact. Gov policy can help to reduce infection rate and local economy at same way. The increase of number of COVID-19 cases has a negative impact on local Tourism industry and economic growth rate. On the other hand, Govt legislation also can be change when reported COVID-19 case are less or equal to 10.

COVID-19 Burnie Tasmania BMA708 Economy

Explanation of the ModelThis is a Model of COVID-19 outbreak in Burnie, Tasmania which shows the government actions in response to the pandemic COVID-19 and its affects on the Economy. The government health policy changes depending on the reported cases, which is a dependent upon the testing rate. 
AssumptionsLockdown and travel ban were the main factor in government policy. It negatively impacts on the Economic growth as individuals are not going out which is directly affects the business around the world, in this insight 'Burnie'. This reduces the economic growth and the factors positively effecting economic growth such as Tourism.

Government policies has a negative impact on Exposer of individuals. Moreover, it also has a negative impact on chances of infection when exposed as well as other general infection rate. 
Interesting Insight There is a significant impact of test rating on COVID-19 outbreak. Higher rates increases the government involvement, which decreases cases as well as the total death. In contrast, lower testing rates increase the death rate and cases. 
Tourism which plays a avital role in Tasmanian Economy greatly affects the Economic Growth. The decline of Tourism in parts of Tasmania such as Burnie, would directly decrease the economy of Tasmania.


  

COVID-19 Burnie Tasmania COVID-19 Outbreak Government Policy Economy BMA708

ABOUT THE MODEL

This is a dynamic model that shows the correlation between the health-related policies implemented by the Government in response to COVID-19 outbreak in Burnie, Tasmania, and the policies’ impact on the Economic activity of the area.

 ASSUMPTIONS

The increase in the number of COVID-19 cases is directly proportional to the increase in the Government policies in the infected region. The Government policies negatively impact the economy of Burnie, Tasmania.

INTERESTING INSIGHTS

1. When the borders are closed by the government, the economy is severely affected by the decrease of revenue generated by the Civil aviation/Migration rate. As the number of COVID-19 cases increase, the number of people allowed to enter Australian borders will also decrease by the government. 

2. The Economic activity sharply increases and stays in uniformity. 

3. The death rate drastically decreased as we increased test rate by 90%.

COVID-19 Burnie Tasmania BMA708 Economy

This model bases on the SIR model aims to indicate the relationship between the lockdown policy of the government for combating with COVID-19 and the economic activity in Burnie Tasmania during the pandemic. 
This model assumes that more COVID-19 cases will lead to the more serious lockdown policy of the local government, which indirectly affect the economic activities and economic growth. The primary reason is that the lockdown policy force people to stay at home and reduce the chance to work and consume.
The simulation trend of the model is that the economy will keep a steady increase when the serious government policy reduces the COVID-19 spreading speed rate.

COVID-19 UTAS BMA708 Model

This model is to explain the COVID-19 outbreak in Brunie Island, Tasmania, Australia, and the relationship between it and the government policies , also with the local economy.

This model is upgraded on the basis of the SIR model and adds more variables.

A large number of COVID-19 cases will have a negative impact on the local economy. But if the number of cases is too small, it will have no impact on the macro economy

Government policy will help control the growth of COVID-19 cases by getting people tested.

COVID-19 SIR Model Government Policy Economy Burnie Tasmania UTAS BMA708

Model of Covid-19 Outbreak in Burnie, Tasmania

When reported COVID-19 cases begin to show a rapid increase, the government will initiate control policies to deal with the spread.As the number of people tested increases and measures such as isolation and medical assistance are implemented, the number of people infected will decline rapidly.Therefore, the government's policy is to reduce and eliminate sources of transmission by increasing the number of tests and initiating control measures.At the same time, it also shows the negative impact of economic growth, which according to the model will stop in the next 20 weeks.

COVID-19 Government Economy Burnie Tasmania UTAS BMA708

[The Model of COVID-19 Pandemic Outbreak in Burnie, TAS]
A model of COVID-19 outbreaks and responses from the government with the impact on the local economy and medical supply. 
It is assumed that the government policy is triggered and rely on reported COVID-19 cases when the confirmed cases are 10 or less. 
Interesting insightsThe infection rate will decline if the government increase the testing ranges, meanwhile,  the more confirmed cases will increase the pressure on hospital capacity and generate more demand for medical resources, which will promote government policy intervention to narrow the demand gap and  affect economic performance by increasing hospital construction with financial investment.

COVID-19 Burnie Tasmania BMA708 Economy

A basic model

Inventory Production BMA708

A model of diffusion of innovations.

Adoption Bass Model BMA708

A basic Bass model of diffusion of innovations

BMA708 Big Data And Marketing Analytics Bass Model

A basic Bass model of diffusion of innovations

BMA708 Big Data And Marketing Analytics Bass Model

Simple epidemiological model for Burnie, TasmaniaSIR: Susceptible to infection - Infected - Recovery, Government responses and Economic impacts  

Government policy is activated when there are 10 or fewer reported cases of COVID-19. The more people tested, the fewer people became infected. So the government's policy is to reduce infections by increasing the number of people tested and starting early. At the same time, it has slowed the economic growth (which, according to the model,  will stop for next 52 weeks).

COVID-19 Coronavirus SIR Model Government Economy Burnie Tasmania UTAS BMA708

A sample model for class discussion modeling COVID-19 outbreaks and responses from government with the effect on the local economy.  Govt policy is dependent on reported COVID-19 cases, which in turn depend on testing rates less those who recover
AssumptionsGovt policy reduces infection and economic growth in the same way.
Govt policy is trigger when reported COVID-19 case are 10 or less.
A greater number of COVID-19 cases has a negative effect on the economy.  This is due to economic signalling that all is not well.

Interesting insights
Higher testing rates seem to trigger more rapid government intervention, which reduces infectious cases.  The impact on the economy though of higher detected cases though is negative. 

COVID-19 Burnie Tasmania BMA708 Economy

A sample model for class discussion modeling COVID-19 outbreaks and responses from government with the effect on the local economy.  Govt policy is dependent on reported COVID-19 cases, which in turn depend on testing rates less those who recover
AssumptionsGovt policy reduces infection and economic growth in the same way.
Govt policy is trigger when reported COVID-19 case are 10 or less.
Interesting insights
Higher testing rates seem to trigger more rapid government intervention, which reduces infectious cases.  

COVID-19 Burnie Tasmania BMA708 Economy

This Model was first developed from the SIR model (Susceptible, Infected, Recovered). It was designed to explore relationship between the government policies regarding the COVID-19 and its influences on the economy as well as well-being of local residents. 

 

Assumptions:

Government policies will be triggered when reported COVID-19 case are 10 or less;

Government policies reduces the infection and economic growth at the same time.

 

Interesting Insights:

In the first two weeks, the infected people showed an exponential growth, in another word, that’s the most important period to control the number of people who got affected. 

 

COVID-19 Burnie Tasmania BMA708 SIR Model Economy After Pandemic Well-being

A sample model for class discussion modeling COVID-19 outbreaks and responses from government with the effect on the local economy.  Govt policy is dependent on reported COVID-19 cases, which in turn depend on testing rates less those who recover
AssumptionsGovt policy reduces infection and economic growth in the same way.
Govt policy is trigger when reported COVID-19 case are 10 or less.
A greater number of COVID-19 cases has a negative effect on the economy.  This is due to economic signalling that all is not well.

Interesting insights
Higher testing rates seem to trigger more rapid government intervention, which reduces infectious cases.  The impact on the economy though of higher detected cases though is negative. 

COVID-19 Burnie Tasmania BMA708 Economy

A sample model for class discussion modeling COVID-19 outbreaks and responses from government with the effect on the local economy.  Govt policy is dependent on reported COVID-19 cases, which in turn depend on testing rates less those who recover
AssumptionsGovt policy reduces infection and economic growth in the same way.
Govt policy is trigger when reported COVID-19 case are 10 or less.
A greater number of COVID-19 cases has a negative effect on the economy.  This is due to economic signalling that all is not well.

Interesting insights
Higher testing rates seem to trigger more rapid government intervention, which reduces infectious cases.  The impact on the economy though of higher detected cases though is negative. 

COVID-19 Burnie Tasmania BMA708 Economy

A basic Bass model of diffusion of innovations

BMA708 Big Data & Marketing Analytics Bass Model

This Model was first developed from the SIR model (Susceptible, Infected, Recovered). It was designed to explore relationship between the government policies regarding the COVID-19 and its influences on the economy as well as well-being of local residents. 

 

Assumptions:

Government policies will be triggered when reported COVID-19 case are 10 or less;

Government policies reduces the infection and economic growth at the same time.

 

Interesting Insights:

In the first two weeks, the infected people showed an exponential growth, in another word, that’s the most important period to control the number of people who got affected. 

 

COVID-19 Burnie Tasmania BMA708 SIR Model Economy After Pandemic Well-being

This model shows the COVID-19 outbreaks in Burnie and the Government intervention to alleviate the crisis and also how is the intervention affect the economy.
It is assumed that the Government intervention is triggered when the COVID-19 case is equal to or more than 10. 
Government intervention - lock down the state, suppress the development of COVID-19 effectively. It is related to most of people stay at home to reduce the exposure in public area.On the other hand, it also bring the economy of Burnie in the recession, as no tourists, no dining out activities and decrease in money spending in the city.

BMA708 COVID-19 Burnie Economic Impacts