Learning outcomes to be examined in this assessment:
a) Identify the nature of resource cost structure and the practical significance of different costs;
b) Explain the factors influencing optimum size and the significance of demand and supply relationships;
c) Demonstrate an understanding of the relevance and limitations of economic theory to management decisions.
Percentage of marks awarded for module:
The individual report is 50% of the total marks for the module.
Assessment criteria
Explanatory comments on the assessment criteria
Maximum marks for each section
Content, style, relevance, originality
Content will reflect the students’ ability to understand and to analyse business economics as taught.
Answers to be based on an interpretation of class hand-outs and evidence of background reading. That is, there should be clear demonstration of focused rigorous research from recognised authoritative sources.
50%
Format, referencing, bibliography
• The limit is not a guide, it is an instruction.
• Do not stray into tangential material. Always ask yourself – is what I’ve written relevant to the question set?
• Copy and Paste. Please try to refrain from doing this.
• Font size. Please use font size of approx.. TNR 12, Arial 12 size.
• Double space.
• Read (aloud) what you have written. If we can’t understand your argument, you will not get any credit for it.
The Study Skills Handbook and Module provide detailed guidance on referencing. Ensure you reference your citations using the Harvard method.
10 %
Constructive critical analysis, introduction, conclusion
Demonstration of a clear understanding of the issues. Use of academic models. Clear focussed understanding of a topic.
Critical analysis is an important test of the student’s ability to evaluate business economics concepts.
Introductions and conclusions should briefly address the issues to be discussed and discussed respectively.
40%
Candidates must clearly label their ID Number on additional separate reference, formula or answer sheets.
Assignment Task: Individual Report
(This assignment comprises 50% of the final mark for this module)
You should answer the question in report form with introduction, main body and conclusion.
Global oil prices have fallen sharply over the past year, leading to significant revenue shortfalls in many energy exporting nations, while consumers in many importing countries are likely to have to pay less to heat their homes or drive their cars.
Question: How oil prices affect the AD or AS of an economy?
Please select one of the below:
1) The petrol exporting nations
Or
2) Petrol importing nations
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