Contemporary Economic Analysis

Assignment Brief Academic Year 2021-22

Module code and title:

BM533 Contemporary Economic Analysis

Module leader:

Naveed Shah

Assignment No. and type:

CW1: Written Assignment: Individual written assignment on microeconomics and behavioural economics – 2500

Assessment weighting:

100%

Submission time and date:

20^th May 2022

Before 2:00 pm UK Time

Target feedback time and date:

3 Weeks

Assignment task

CONTEXT

AssignmentTutorOnline

TASK 1 – 60% (1500 words)

Familymart Groceries is currently experiencing fluctuation in its daily sales and looking for the best solution to deal with this problem. Jack Dobb, one of the newly recruited sales managers of Familymart Groceries does not understand anything about microeconomics concept of Demand and Supply analysis and has approached YOU (2^nd year economic student) for some explanation and how to analyse Familymart’s Demand and Supply.

Critically analyse the following microeconomics concepts to Jack Dobb with reference to Familymart Groceries business.

Explain the law of Demand, movement along the same demand curve (with the aid of table and diagram) and changes in demand curve with influencing factors (with the aid of diagram).

30 marks

Explain the law of Supply, movement along the same supply curve (with the aid of table and diagram) and changes in supply curve with influencing factors (with the aid of diagram).

30 marks

Internal Approval: Emmanuel Ntim

TASK 2 – 30% (1000 words)

Select two emerging theories or models of 21^st century contemporary economics of your choice and two 20^th century theories or models of your choice. You are to compare and contrast and relate both to modern business practices. 30 marks

General coherence of the assignment, introduction, presentation, conclusion and referencing. 10 marks

TOTAL MARKS = 100%

This assignment has been designed to provide you with an opportunity to demonstrate your achievement of the following module learning outcomes:

LO 1: Critically evaluate the alternative theories of economics and their implications for business, including traditional economic approaches and more contemporary approaches relating to behavioural economics.

LO 2: Critically assess concepts and principles underlining business economics activity.

LO 3: Apply the appropriate models and techniques for analysing the environment(microeconomics) within which business organisations operate.

Task requirements

Referencing and research requirements

Please reference your work according to the Harvard style as defined in Cite Them Right Online (http://www.citethemrightonline.com). This information is also available in book form: Pears, R. and Shields, G. (2019) Cite them right: the essential reference guide. 11^th edn. Basingstoke: Palgrave Macmillan. Copies are available via the University library.

How your work will be assessed

Your work will be assessed against the assessment criteria which have been provided at the end of this brief.

These criteria have been designed specifically for this assignment and are intended to measure the extent to which you have demonstrated your achievement of its associated learning outcomes (see above). They have been aligned with the institutional grade descriptor appropriate for your level.

The assessment criteria provide a basis for fair and consistent marking and indicate what is expected of you in this assignment. It is strongly recommended that you engage with them while you are working on the assignment and use them in combination with any feedback you receive once your work has been marked to help you plan for future learning and development.

Submission details

This assignment should be submitted electronically. Please use the relevant Turnitin submission point in the Submit your work area in your Blackboard module shell.

Please ensure that your work has been saved in an appropriate file format. Turnitin will only accept the following file types: Microsoft Word, Excel or PowerPoint, PostScript, PDF, HTML, RTF, OpenOffice (ODT), Hangul (HWP), Google Docs, or plain text. Your file must also contain at least 20 words of text, consist of fewer than 400 pages and be less than 40MB in size.

You can submit your work as many times as you like before the submission date. If you do submit your work more than once, your earlier submission will be replaced by the most recent version.

Once you have submitted your work, you will receive a digital receipt as proof of submission, which will be sent to your forwarded e-mail address (provided you have set this up). Please keep this receipt for future reference, along with the original electronic copy of your assignment.

You are reminded of the University’s regulations on academic misconduct, which can be viewed on the University website: https://bucks.ac.uk/ data/assets/pdf_file/0024/9546/Academic-Misconduct- Policy.pdf. In submitting your assignment, you are acknowledging that you have read and understood these regulations

Please also note that work that is submitted up to 10 working days beyond the submission date will be considered a late submission. Late submissions will be marked and the actual mark recorded but will be capped at the pass mark (typically 40%), provided that the work is of a passing standard. Work submitted after this period will not be marked and will be treated as a non-submission.

Before you submit

Please use the provided checklist below to make sure you are ‘fit to submit’ your work

We recommend you use this checklist as soon as you get this assignment brief to help you plan your work

Fit to Submit: Assignment Checklist

This brief assignment checklist is designed to help you avoid some of the most common mistakes students make in their coursework.

Have you read the assignment brief? If not, do so now!

In it you will find details of the assessment task, word count, the assessment criteria your work is marked against, and the learning outcomes – the basis for the assessment strategy in each module.

Students often lose marks by forgetting some of the more straightforward elements of their assignments. We recommend that you “tick off” each of the points below as you prepare your work for submission. If you need any help, ask your tutor and/or visit https://bucks.ac.uk/students/academicadvice/assessment-and-examination

Have you read and understood the assessment criteria?

^Have ^you ^met ^the ^learning ^outcomes? ^You ^will ^lose ^marks ^and ^{your work} ^may ^even ^be ^failed ^ifyou have not.

Have you demonstrated you can think and write critically in the completed work? This means you have supported your arguments/explanations appropriately e.g. using relevant academic sources and you have offered discussion points which extends your own or others’ viewpoints to make reasoned conclusions/judgements.

Have you maintained an appropriate tone throughout your work? Is your work formal, focused, developed and clear?

Have you checked that the referencing in your assignment is in line with your programme requirements?

Have you proof-read your work and used spellcheck software to check your spelling and grammar?

Have you checked the presentation of your work is as specified by your tutor, for example, are font size, colour, style, line spacing and margins as the tutor specified?

Have you kept to the word count (or equivalent)? If you are not sure, check with your tutor. Can you confirm that the work submitted is your own and maintains academic integrity?

Assessment Criteria Academic Year 2021-22

	Fail	Fail	Pass	Pass	Pass	Pass	Pass
	0-34 (F) – Fail	35-39 E – Marginal fail	40-49 (D)	50-59 (C)	60-69 (B)	70-79 (A)	80-100 (A+)
	Not successful	Below required standard	Satisfactory	Good	Very Good	Excellent	Outstanding
Knowledge and understanding 30% This should include evidence of: Depth of knowledge and understanding Engagement with subject specific theories, paradigms, concepts, and principles Background investigation, analysis, research, enquiry and study	The work demonstrates a limited and/or substantially inaccurate or no understanding of key aspects of the subject, with few if any examples of coherent and detailed knowledge, which is unlikely to be at, or informed by, the forefront of defined aspects of the discipline e.g., recent research, latest techniques.	The work demonstrates insufficient understanding of key aspects of the subject, including some coherent and detailed knowledge, little of which is at, or informed by, the forefront of defined aspects of the discipline e.g., recent research, latest techniques.	The work demonstrates a basic yet systematic understanding of key aspects of the subject, including some coherent and detailed knowledge, at least some of which is at, or informed by, the forefront of defined aspects of the discipline e.g., recent research, latest techniques.	The work demonstrates a sound breadth and depth of systematic understanding of key aspects of the subject, including some coherent and detailed knowledge, some of which is at, or informed by, the forefront of defined aspects of the discipline e.g., recent research, latest techniques.	The work demonstrates a sophisticated and critical systematic understanding of key aspects of the subject, including coherent and detailed knowledge, much of which is at, or informed by, the forefront of defined aspects of the discipline e.g., recent research, latest techniques.	The work demonstrates a highly accomplished systematic understanding of key aspects of the subject beyond what has been taught, including coherent and detailed knowledge, most of which is at, or informed by, the forefront of defined aspects of the discipline e.g., recent research, latest techniques.	The work demonstrates an exceptional systematic understanding of key aspects of the subject, including coherent and detailed knowledge well beyond what has been taught, all of which is at, or informed by, the forefront of defined aspects of the discipline e.g., recent research, latest techniques.
Analysis and criticality 35% This should include evidence of: Logic and argument Use and range of independently selected sources Analysis and synthesis Problem-solving and decision-making	The work demonstrates a limited or no ability to work deploy relevant techniques of analysis and enquiry accurately; Conceptual understanding evident is limited thus the work does not: devise and sustain arguments and/or solve problems describe and	The work demonstrates an insufficient ability to deploy established techniques of analysis and enquiry within the discipline; The conceptual understanding evident enables the work to partially demonstrate: use of ideas and techniques to devise	The work demonstrates a sufficient ability to deploy established techniques of analysis and enquiry within the discipline; A basic yet sufficient conceptual understanding is evident that enables the work to demonstrate: use of ideas and	The work demonstrates a sound ability deploy established techniques of analysis and enquiry within the discipline; A sound conceptual understanding is evident that enables the work to demonstrate: use of ideas and Techniques to devise	The work demonstrates a sophisticated ability to deploy established techniques of analysis and enquiry within the discipline. A sophisticated conceptual understanding is evident that enables the work to demonstrate: use of ideas and	The work demonstrates a highly accomplished ability to deploy established techniques of analysis and enquiry within the discipline; A highly accomplished conceptual understanding is evident that enables the work to demonstrate:	The work demonstrates an exceptional ability to deploy established techniques of analysis and enquiry within the discipline; A superior conceptual understanding is evident that enables the work to demonstrate: use of ideas and techniques to devise

Internal Approval: Emmanuel Ntim

Organisation and communication of ideas and evidence

comment upon aspects of current research and scholarship, with little or no appreciation of the uncertainty, ambiguity, and limits of knowledge;

use relevant and appropriate sources resulting in few if any scholarly reviews.

and sustain arguments and solve problems

the ability to describe and comment upon aspects of current research and scholarship, albeit with only a developing appreciation of the uncertainty,

ambiguity, and limits of knowledge;

There is a limited range of independently selected relevant and appropriate scholarly sources.

techniques to devise and sustain arguments and solve problems,

the ability to describe and comment upon aspects of current research and scholarship, with a sufficient

appreciation of the uncertainty, ambiguity, and limits of knowledge;

use a sufficient range of independently selected relevant and appropriate scholarly sources.

and sustain arguments and solve problems,

the ability to describe and comment upon aspects of current research and scholarship, with a sound appreciation of the uncertainty, ambiguity, and limits of knowledge;

use of a sound range of independently selected relevant and appropriate scholarly sources.

techniques to devise and sustain arguments and solve problems,

the ability to describe, synthesise and

critique aspects of current research and scholarship, with a sophisticated appreciation of the uncertainty, ambiguity, and limits of knowledge

use of a sophisticated range of independently selected relevant and appropriate scholarly sources.

use of ideas and techniques to devise and sustain arguments and solve problems,

the ability to describe, synthesise and

critique all relevant aspects of current research and scholarship, with a nuanced appreciation of the uncertainty, ambiguity, and limits of knowledge;

use of a highly accomplished range of independently selected relevant and

appropriate scholarly sources.

and sustain arguments and/or solve problems,

the ability to describe, synthesise and

critique all relevant aspects of current research and scholarship, with a highly nuanced appreciation of the uncertainty, ambiguity, and limits of knowledge;

use of a superior range of independently selected relevant and appropriate scholarly sources.

Application and Practice

25%

This should include evidence of:

Development and/or application discipline- specific specialist skills

Accuracy, coordination, and proficiency in completion of processes

Technical skills

Presentation of research findings and use of data

Work demonstrates a limited or no ability to select and apply appropriate methods and techniques to develop and apply knowledge and understanding, and in turn:

use of an appropriate range of technical skills is not demonstrated in

most including key areas

presentation of research and findings is not clear or effective, or only in a very limited range of

formats, and gathering, processing

and interpretation of data ineffective

and/or incomplete

Work demonstrates an insufficient ability to select and apply appropriate methods and techniques to develop and apply knowledge and understanding, and in turn:

use of an appropriate range of technical, skills is not demonstrated in

some key areas

presentation of research and findings is often not clear or effective, or only in a limited range of formats, and

gathering, processing and interpretation of data ineffective and/or inefficient.

Work demonstrates a sufficient ability to select and apply appropriate methods and techniques to develop and apply knowledge and understanding, and in turn:

use an appropriate range of technical, skills

present research and findings, in several formats, and gather, process and interpret data efficient.

Work demonstrates an ability to select and apply in a consistent and informed manner appropriate methods and techniques to develop and apply knowledge and understanding,

and in turn:

consistently use an appropriate range of technical skills

consistently present research and findings effectively and appropriately, in many formats, and gather, process and interpret data efficiently and effectively.

Work demonstrates an ability to select and apply in a capable and effective manner appropriate methods and techniques to develop and apply knowledge and, and in turn:

consistently use an appropriate range of highly developed relevant technical skills

consistently present thorough research and findings perceptively and appropriately, in wide range of

formats, and gather, process and interpret a wide range of complex data efficiently and effectively.

Work demonstrates an ability to select and apply in a highly accomplished manner appropriate methods and techniques to develop and apply knowledge, and in turn:

consistently use a full range of highly developed technical skills

consistently present thorough research and findings perceptively, convincingly, and appropriately, in wide range of formats, and gather, process and interpret a wide

range of complex data efficiently and effectively.

Work demonstrates an ability to select and apply in a highly accomplished and innovative manner appropriate methods and techniques to develop and apply knowledge and, and in turn:

consistently use a full range of exceptional technical skills

consistently present thorough research and findings perceptively authoritatively, and appropriately, in wide range of formats, and gather, process and interpret a wide

range of complex data efficiently and effectively.

Transferable skills 10%

Work demonstrates limited or no ability to:

–communicate

Work demonstrates insufficient ability to:

–communicate

Work demonstrates a sufficient ability to:

–communicate

Work demonstrates a

Consistent and confident ability to:

Work demonstrates a

Highly proficient ability to:

Work demonstrates a

Highly accomplished ability to:

Work demonstrates a exceptional ability to:

–communicate

This should include evidence of:

Written, verbal and electronic communication

Personal organisation, and

time management

information, ideas, problems and solutions accurately and reliably utilising

relevant communication skills