Assignment Detail Document

Assignment Detail Document

Subject Code BBUS1IEI

Subject Name Economic Issues and Public Policy

Trimester Trimester 1, 2024

Assessment Task Due Date Weighting % Subjects Learning Outcomes Assessed

Assignment

Week

10

20%

1, 4, 5

Date 17th May 2024 Time 11:59pm Submission Details

Online submission. The assignment submission box will open two weeks before the final submission is due.

Grading Criteria & Feedback

This assignment is to use an economic principle or principles discussed in this subject to explain some pattern of events of behaviour that you have personally observed.

Description of Task

Choose an economic principle, or principles from the subject and using your own observations explain some pattern of events or behaviour. The assignment does not need to contain complex terminology, algebra or graphs. The best assignments are ones that would be clear to someone who has never studied economics. Further, you do not need to provide voluminous research in support of your argument, although a relevant fact or two can help in convincing others. It makes no difference whether your topic is "important", but do try to choose something interesting. A successful paper is one that begins with an interesting question and then uses an economic principle or principles to construct a plausible solution.

The aims of the assignment are to encourage students to:

Apply economic concepts and principles to analyse real-world problems or phenomena

Interpret evidence and/or data for the problem analysed

Utilise economic tools and approaches to make draw conclusions and make recommendations

Better understand the complexities of human behaviour

Some economics principles to consider:

Incentives matter: because they affect the benefits and costs of taking one action as opposed to another.

Trade-offs: in economics we often look at the trade-offs involved in a decision.

Opportunity cost: each decision we make involves an opportunity cost, that is, the next best alternative.

The cost-benefit principle: Take no action unless its marginal benefit is at least as great as its marginal cost.

The assignment must be:

Word processed in 12 point font at 1.5 spacing

Not more than 1000 words

Additionally, as we take academic integrity seriously, it is recommended that you check the originality of your assignment by submitting to Turnitin prior to the due date. Also refrain from using ChatGPT, grammarly and other Artifical Intelligence tools as this will also be picked up by our system and will incur a heavy penalty, and/or the need to submit a different assignment plus an interview with the lecturer.

Feedback

The assignment will be graded according to the marking rubric

Detailed feedback will be provided within 2 weeks of the due date.

BUSB1IEI Investigating Economics and Public Policy

Trimester 3 2023

Assignment Marking Grid (20% Weighting)

Student Name: ______________________________

Element Being Assessed Standard:

Excellent Standard:

Good Standard:

Satisfactory Standard:

Poor or Unsatisfactory Mark Allocated

Identification and explanation of an Economic Principle Student has given a clear explanation of the economic principle chosen. Student has given some justification for the choice they have made.

((5-6 marks) The student has defined and discussed the economic principle but has not provided any insight as to the reason behind the choice to investigate it.

(4 marks) The student has attempted to explain the economic principle, but it is unclear or confusing. An attempt has been made to give reasons for choosing the topic.

(3 marks) The student has not provided a clear explanation of the topic they have chosen (or have made no attempt). Furthermore, there is no insight into why they have chosen the topic over other potential areas of study.

(0-2 marks) / 6

Application of Principle to a real-world scenario The student has given a good example of the way in which the economic principle can be seen/applied in the real world. A detailed explanation is needed for full marks.

(5-6 marks) The students explanation of the principles application is valid though not well explained. The example given is correct on the whole but could be better linked to the economic theory(4 marks) The student has chosen given only a brief explanation of the economic principle and the real-world application. The link between the economic concept and its real-world application is not fully explained.

(3 marks) Either (i) No or minimal attempt has been made to link the economic concept a to real world applications OR (ii) the student has applied an invalid example to the economic concept that have chosen.

(0-2 marks) /6

Structure and Format of Essay The assignment is well structured and used appropriate subheadings. It is also a well-developed extension of the planning exercise (Exercise 3)

(4 marks) The assignment has the basic essay structure but could be more logically ordered with better use of subheadings.

(3 marks) The assignment does not follow the essay format but the content is still logical and the presentation is passable.

(2 marks) The assignment does not follow the essay format or is not set out in a logical manner. The presentation is poor and there is a lack of subheadings or research.

(0 or 1 mark) /4

Writing,

Learnings and Recommendations The essay is clearly written and easy to understand. The student has given some explanation of learnings or recommendations.

(4 marks) The essay is generally easy to understand with some minor issues in grammar. Learning or recommendations have been given.

(3 marks) The content of the essay is passable but the writing is poor and the student has not demonstrated learnings or given recommendations.

(3 marks) The essay is poorly written and difficult to understand. The student fails to demonstrate they have understood the economic principle they have chosen.

(0 or 1 mark) /4

Total /20