Economy | Insight Maker

INTRODUCTION

This is a balanced loop model that demonstrates how COVID 19 outbreak in Burnie and the response of the government (e.g. by enforcing health policies: Lockdown; quarantine, non-necessary business closure; border closure) affect the local economy. This model has 13 positive loops and seven negative loops. Government response is dependent on the number of reported COVID-19 cases which in turn thought to be dependent on the testing rates less those who recovered from COVID 19 and dead. Economic activity is dependent on the economic growth rate, increased in online shopping, increased in unemployment, number of people who do not obey the rules, COVID 19 cases and health policies.

ASSUMPTIONS

· Both infection and economic growth is reduced by enforcing government policies

· However, the negative effect of government policies is reduced by the number of people who do not obey government health policies

· Govt policies are enforced when the reported COVID-19 case are 10 or greater.

· Number of COVID cases reported is dependent on the testing rates less those who recovered and dead.

· The higher number of COVID-19 cases have a negative effect on local economy. This phenomena is known as negative signalling.

· Government policies have a negative effect on economic activity because health policies limit both social and economic activities which directly or indirectly affect the economy in Burnie .

· This negative effect is somewhat reduced by the increase in online shopping and the number of people who do not obey heath rules.

INTERESTING INSIGHTS

The test ratings seem to play a vital role in controlling COVID-19 outbreak. Higher Rates of COVID testings decrease the number of COVID 19 deaths and number of infected. This is because higher rates of testing accelerate the government involvement (as the government intervention is triggered earlier, 10 COVID cases mark is reached earlier). Delaying the government intervention by reducing the COVID testing rates increases the death rates and number of infected.

Increased testing rates allow the figures (deaths, susceptible, infected) to reach a plateau quickly.

BMA708- Shakila Bethmage- 548351 - COVID 19 Outbreak in Burnie

Shakila Piyumi Perera Bethmage

Overview

A model which simulates the competition between logging versus adventure tourism (mountain bike ridding) in Derby Tasmania. Simulation borrowed from the Easter Island simulation.

How the model works.

Trees grow, we cut them down because of demand for Timber amd sell the logs.

With mountain bkie visits. This depends on past experience and recommendations. Past experience and recommendations depends on Scenery number of trees compared to visitor and Adventure number of trees and users. Park capacity limits the number of users.

Interesting insights

It seems that high logging does not deter mountain biking. By reducing park capacity, visitor experience and numbers are improved. A major problem is that any success with the mountain bike park leads to an explosion in visitor numbers. Also a high price of timber is needed to balance popularity of the park. It seems also that only a narrow corridor is needed for mountain biking

Assignment of Simulation of Mountain biking versus logging MD Raihanul Islam

MD Raihanul Islam

3

'Efficiencyism’ can be described as a blind belief in the effectiveness of efficiency measures without taking into account circumstances and the wider context. The graph on the left shows how the frequent use of the term 'efficiency' at the level of local interactons can lead to the emergence of 'efficiencyism' through upward causation, denoted by the arrows pointing upwards. However, there is also downward causation from the global level depicted by the red arrows which can increase the blind application of efficiency measures at the local level. In other words, efficiency for the sake of efficiency becomes a dominant idea. The tyrannical influence of 'eficiencyism' affects all of us to varying degrees and unfortunately can often have very negative side effects, such as an increase in unemployment, social injustice and even increase inequality. Of course, well thought out efficiency improvements can also bring great benefits. I recommend reading an excellent article by Dr. Charles Chandler, who explains the term 'efficiencyism' with some excellent examples and also points to some of its undesirable effects.

http://www.ageofoe.com/010-efficiencyism-holds-us-back/

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This model shows the changing happened in forest industry and mountain tourism in Derby Tasmania. Logging will degrade mountain tourism while benefit the forestry industry. Simulation borrowed from the Easter Island simulation.

According to the analysis, logging does not reduce tourism income. With the increase of number of bike guide, tourism income will increase as well. Also, in forest industry, timber income is higher than the harvest spending which means the industry always gain profits from logging. Therefore, the main concern is that the logging should be balanced between the Mountain Tourism and the forest industry.

Simulation of Derby Mountain bikes versus logging

Mirai

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@LinkedIn, Twitter, YouTube

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Nilo Guimaraes

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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.

BMA708 Model of COVID-19 Outbreak in Burnie island. Ming Liu 501335

Ming Liu

The statement that there can be no economic activity without energy and that fossil fuels are finite contrasts with the fact that money is not finite and can be created by governments via their central banks at zero marginal cost whenever needed.

An important fact about COAL, GAS and OIL (especially when produced via fracking) is that their net energy ratios are falling rapidly. In other words the energy needed to extract a given quantity of fossil fuels is constantly increasing. The falling ratio 'EROI' (Energy Return on Energy Invested ) provides yet another warning that we can no longer rely on fossil fuels to power our economies. In 1940 it took the energy of only one barrel of oil to extract 100. Today the energy of 1 barrel of oil will yield only 15. We cannot wait until the ratio falls to 1/1 before we invest seriously in alternative sources of energy, because by then industrial society as we know it doday will have ceased to exist. An EROI of 1:1 means that it takes the energy of one barrel of oil to extract one barrel of oil - oil production would simply stop!

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Simulates personal accounts over time.

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Sravya Sri Egalapati

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Follow us on YouTube, Twitter, LinkedIn and please support Systems Thinking World.

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Arman Mojtabavi

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Description:

Model of Covid-19 outbreak in Burnie, Tasmania

This model was designed from the SIR model(susceptible, infected, recovered) to determine the effect of the covid-19 outbreak on economic outcomes via government policy.

Assumptions:

The government policy is triggered when the number of infected is more than ten.

The government policies will take a negative effect on Covid-19 outbreaks and the financial system.

Parameters:

We set some fixed and adjusted variables.

Covid-19 outbreak's parameter

Fixed parameter: Background disease.

Adjusted parameters: Infection rate, recovery rate. Immunity loss rate can be changed from vaccination rate.

Government policy's parameters

Adjusted parameters: Testing rate(from 0.15 to 0.95), vaccination rate(from 0.3 to 1), travel ban(from 0 to 0.9), social distancing(from 0.1 to 0.8), Quarantine(from 0.1 to 0.9)

Economic's parameters

Fixed parameter: Tourism

Adjusted parameter: Economic growth rate(from 0.3 to 0.5)

Interesting insight

An increased vaccination rate and testing rate will decrease the number of infected cases and have a little more negative effect on the economic system. However, the financial system still needs a long time to recover in both cases.

BMA708_Assignment 3_Nguyen Dang Khoa Vo_520272_COVID-19 outbreak and Burnie economy

NGUYEN DANG KHOA VO

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Ying Gao

Simulates personal accounts over time.

Model based on the Sustainable Money System

Clone of Sustainable Money System

Abdul Faheem Mohed

The statement that there can be no economic activity without energy and that fossil fuels are finite contrasts with the fact that money is not finite and can be created by governments via their central banks at zero marginal cost whenever needed.

An important fact about COAL, GAS and OIL (especially when produced via fracking) is that their net energy ratios are falling rapidly. In other words the energy needed to extract a given quantity of fossil fuels is constantly increasing. The falling ratio 'EROI' (Energy Return on Energy Invested ) provides yet another warning that we can no longer rely on fossil fuels to power our economies. In 1940 it took the energy of only one barrel of oil to extract 100. Today the energy of 1 barrel of oil will yield only 15. We cannot wait until the ratio falls to 1/1 before we invest seriously in alternative sources of energy, because by then industrial society as we know it doday will have ceased to exist. An EROI of 1:1 means that it takes the energy of one barrel of oil to extract one barrel of oil - oil production would simply stop!

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Lisa Marie “Werby-Martinez”

Simple mock-up model of how prioritizing various push-pull factors impacts the size of the immigrant population over time as well as economic benefits to the U.S. economy.

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Introduction;

This model shows COVID-19 outbreak in Burnie have some impact for local economy situation and government policy. The main government policy is lockdown during the spreading period which can help reduce the infected rate, and also increase the test scale to help susceptible confirm their situation.

Variables;

Infection rate, Death rate, Recovery rate, test rate, susceptible, immunity rate, economy growth rate

These variables are influenced by different situation.

When cases over 10, government will implement lockdown policy.

Conclusion;

When cases increase too much , they will influence the economic situation.

Interesting insights:

If the recover rate is higher, more people will recover from the disease. It seems to be a positive sign. However, it would lead to a higher number of recovered people and more susceptible. As a result, there would be more cases, and would have a negative impact on the economic growth.

Model of COVID-19 Outbreak in Burnie, Tamania ( WANTING BAO, 536865)

wanting bao

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