Recent Papers 03-01-2022

LO1: Describe and illustrate basic understanding of economic concepts

Module Number: BMP4003

Module Name: Business Environment

Year/Trimester: 2021-22/Semester 2

Module Tutor/s:

Assessment Number       

1

Assessment Type (and weighting)

Individual Presentation with Voice Over - 50% (10 to 15 Minute)

Assessment Name

Article Review - Economic Concepts and Models

Assessment Submission Date

 

Learning Outcomes Assessed:

LO1: Describe and illustrate basic understanding of economic concepts

LO2: Describe and discuss economic data tables and basic economic models and draw conclusions.

Assessment Brief:

Trampoline prices `to soar 50% on shipping costs`

The following is an extract from the BBC’s Business Webpage. It highlights the recent issues relating to high transport costs and port congestions.

https://www.bbc.co.uk/news/business-55702243 [Accessed 27/01/2021]

This case highlights the issues caused by Brexit as well the long terms consequences for the shipping industry.

Assessment Details

You are required to prepare a presentation. The presentation task is to review the above article on the BBC webpage and to expand on the aspects of microeconomic theory which underpin the discussion. The following points should be focused upon in delivering your presentation.

- Explain the main argument(s) of the article using microeconomic concepts/terms

- Refer to theory and apply it to main the issues – you should choose to focus on two of the following

  • Demand and Supply
  • Market Structures
  • Economic Profit and Business Organisation
  • Costs and Production
  • Elasticity

Provide explanations of examples in the article

Secondary Research Source Requirement at Level HE4 - It is expected that the Reference List will contain between five and ten sources. As a MINIMUM the Reference List should include one refereed academic journal and three academic books

Assessment Preparation and Submission:

See section 12 of the module guide for Guidelines on the Preparation and Submission of Assignments.

Additional Submission Instructions:

You are required to submit a soft copy via “Turn-it-in UK” on the module Moodle page. The software will allow you to check your work against other material on the internet. It will also compare your work against other students work.

You will be able to upload drafts of your written work into turn-it-in as many times as you wish before the deadline.

You will not be able to overwrite the final submission after the deadline. You can only submit a single file.

Advice:

  • Do not cut and paste phrases or paragraphs from published sources. You should seek to use your own words to explain concepts and theory.
  • If you wish to refer to specific quotes from published sources, then you must use full Harvard presentation.
  • Do not share work with other students.

Specific Assessment Criteria: (See Page 3 for General Assessment Criteria)

Excellent (70+%): A comprehensive description of microeconomic concepts and their relevance to the chosen business scenario. An excellent understanding of economic data tables and economic models is shown. Justified conclusion is drawn.  Microeconomic concepts and their relevance to the business scenario are demonstrated competently. Excellent use of various academic sources and application to theory is evident.   

Very Good (60-69%): A detailed description of microeconomic concepts and their relevance to the chosen business scenario. A very good understanding of economic data tables and basic economic models is shown. Draw valid conclusions. Microeconomic concepts and their relevance to the business scenario are demonstrated well. Very good use of various academic sources and application to theory is evident.   

Good (50-69%): A clear description of microeconomic concepts and their relevance to the chosen business scenario. A good understanding of economic data tables and basic economic models is shown. Draw good conclusions. Microeconomic concepts and their relevance to the business scenario are demonstrated reasonably. Good use of various academic sources and application to theory is evident.   

Satisfactory (40-49%): A satisfactory description of microeconomic concepts and their relevance to the chosen business scenario. Some understanding of economic data tables and basic economic models is shown. Draw basic conclusions. Microeconomic concepts and their relevance to the business scenario are demonstrated fairly. Limited use of resources and application of theory is satisfactory. 

Unsatisfactory (1-39%): Students who do not meet the requirements of a pass grade will not successfully complete the assessment activity.

General Assessment Criteria - Level HE4

 

 

Relevance

Knowledge

Argument/Analysis

Structure

Presentation

Written English

Research/Referencing

Class I
(Exceptional

Quality)

80%+

As for Class 1(70-79%) but exceptional work that makes a contribution to the development of knowledge and understanding in the subject area

 

70-79%

 

Directly relevant to title.  Addresses most or all of the implications and assumptions of the title.

Demonstrates a comprehensive knowledge of theory and practice for this level. Demonstrates ability in the manipulation and transfer of subject material to demonstrate a solid understanding of the issues.

Makes creative use of appropriate arguments and/or theoretical models. Contains some distinctive or independent thinking.

A comprehensive discussion of the material resulting in clear, logical conclusions.

Coherently articulated and logically structured.

An appropriate format is used. 

The presentational style & layout is correct for the type of assignment.

Effective inclusion of figures, tables, plates (FTP).

 

A very well written
answer with standard spelling and grammar.

Style is clear, resourceful and academic.

 

All sources accurately cited in the text. A comprehensive reference list in Harvard Style is provided.

Class II/i
(Very Good Quality)

60-69%

Directly relevant to title.

Addresses some of the implications of the issues addressed by the title.

Demonstrates a sound knowledge of theory and practice for this level.  Manipulates and transfers some material to demonstrate a clear grasp of the themes, questions and issues.

Uses appropriate arguments or theoretical models.

Clear and valid discussion of the material. Clear, logical conclusions.

For the most part coherently articulated and logically constructed.

An appropriate format is used. 

The presentational style & layout is correct for the type of assignment.

Effective inclusion of FTP.

Well written with
standard spelling and grammar. Style is clear and academic.

 

All sources accurately cited in the text and an appropriate reference list in Harvard Style is provided.

Class II/ii
(Good Quality)

 

50-59%

Generally, addresses the title and its implications, but sometimes addresses irrelevant issues.

Demonstrates an adequate knowledge of theory and practice for this level, with evidence of an appreciation of its significance.

Provides a partly coherent argument, but lacking clear focus and consistency in places. Some issues lack clarity, or theoretical models expressed in simplistic terms.

Conclusions are fairly clear and logical.

Adequate attempt at articulation and logical structure.

An acceptable format is used.

The presentational style & layout is correct for the type of assignment.

Inclusion of FTP but lacks selectivity.

Competently written with minor lapses in spelling and grammar. Style is readable and mainly academic.

 

Most sources accurately cited in the text and an appropriate reference list in Harvard Style is provided. 

Class III
(Satisfactory Quality)

40-49%

Some degree of irrelevance to the title.  Superficial consideration of the issues.

Demonstrates limited knowledge of theory and practice for this level, with intermittent evidence of an appreciation of its significance.

A basic argument is evident but lacks clarity and coherence.
Issues are only vaguely stated.

Conclusions are not always clear or logical.

Some attempt at articulation and logical structure.

An acceptable format is used.

The presentational style & layout is largely correct for the type of assignment.

Inappropriate use of FTP or not used where clearly needed to aid understanding.

Generally competent writing although intermittent lapses in grammar and spelling pose obstacles for the reader.

Style limits communication and tends not to be academic.

Some relevant sources cited. Some weaknesses in referencing technique.

Borderline

Fail

 

35-39%

 

Some significant degree of irrelevance to the title is common. Only the most obvious issues are addressed at a superficial level and in unchallenging terms. 

Demonstrates weaknesses in knowledge of theory and practice for this level, with little evidence of an appreciation of its significance.

Limited argument, which lacks clarity in places. Conclusions are neither clear nor logical.

Poorly structured. Lack of articulation.

Format deficient.

For the type of assignment, the presentational style &/or layout is lacking.

FTP ignored in text or not used where clearly needed.

Deficiencies in spelling and grammar makes reading difficult.

Simplistic or repetitious style impairs clarity.

 

 

Limited sources and weak referencing. 

Fail

 

<34%

 

Relevance to the title is intermittent or missing. The topic is reduced to its vaguest and least challenging terms. 

Demonstrates a lack of basic knowledge of either theory or practice for this level, with little evidence of understanding.

Severely limited arguments. Lacks clarity.

Conclusions are sparse.

Unstructured.

Lack of articulation. Format deficient

For the type of assignment, the presentational style &/or layout is lacking.

FTP as above.

Poorly written with numerous deficiencies in grammar, spelling, expression and style.

An absence of academic sources and poor referencing technique.

 

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