Business Economics BEC604
- Subject Code :
BEC604
BEC604 BusinessEconomics
AssessmentBrief
Copyright2024
AustralianInstituteofManagementEducationandTraining Allrightsreserved
Version:v1.1
DateModified:7/11/24
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DESCRIPTIONOFASSESSMENTTASKS
AssessmentSummary
|
AssessmentTask |
Learningoutcomescovered |
DueDate |
Length |
%ofoverallgrade |
|
Economic Principlesand Microeconomic Analysis |
1,2,6 |
Week4 |
2,500to2,800 words |
40% |
|
Macroeconomic Analysis |
3,4,5,6 |
Week7 |
2,700to3,000 words |
45% |
|
Coursework: Reflection |
2,4 |
Ongoingbut completedby week7 |
1000 |
15% |
AssessmentTask1
Economic Principlesand Microeconomic AnalysisDue:Week4
Value:40%
Format:BusinessReport
Wordlength:2,500to2,800words(donotexceedthelimitof2,800words)
Learningoutcomes:1,2,6
Taskdescription
EconomicPrinciplesandMicroeconomicAnalysis:
Choose your own organisation. If you are unable to use your current organisation of employment for this assessment task, approval needs to be obtained from your facilitator to change this to a different organisation.
ApplytheconceptsfromTopics1-4tothemostcurrenteconomicdataofthelast12 months:
Youarerequiredto:
- Research: Conduct research across a range of credible economic sources to gather relevant economic data for the organisation and industry.
- Analyse: Based on your research, outline the business environment and identify business implications for the organisation using economic principles specifically two distinct topics from Topics 1-4
- These might include topics such as opportunity cost, supply, demand, economics of the firm, information and market
- Interpret: Based on the analysis, provide implications and insights for the organisation. For the interpretation, choose the key points and how you will communicate this clearly with appropriate explanations, support and
- Reflect: In your personal reflection, identify and explain two points you have personally learnt from this research and analysis and why they are relevant and important to you, including your role in the organisation or
AssessmentSubmissionRequirements
- The report should clearly state in the introduction the organisation, industry, your role/relationship to this organisation and time period. This should be succinct - summarised in a sentence or two; no longer than 50
- Your assessment is to be written in a business report format, with an Executive Summary, and appropriate headings.
- The headings are your choice, except that one section must have the heading Personal reflection which is included in the wordThe recommendation is to use 250 words in total for this reflection.
- Use arangeof credibleeconomic Include references to aminimum of2 suitable academic journal articles inyour assignment. You cansearch the AIM Librarydatabase.Youalsowillneedtoresearchotheronlineeconomicandindustry related databases and articles to support your research.
- Note that the word limit is a strictBeyond the word limit, the assessment will not be read, and thus, any section beyond the word limit will not be marked.Note: The Executive Summary, tables, reference list, and appendices are not includedinthewordcount.
- Appendices and tables may be used to clarify and support your arguments but should not be used to circumvent the word countPlease use these sparingly. Beyond the word limit, the assessment will not be read and thus any section beyond the word limit will not be marked.
- Submit to the Assessment section of myABS as one
AssessmentCriteria
Pleaserefertothedetailedmarkingrubriconthenextpage.
Rubric:AssessmentTask1
EconomicPrinciplesandMicroeconomicAnalysis:
|
Assessmentcriteria |
Fail0to49% |
Pass50%to64% |
Credit65%to74% |
Distinction75%to84% |
HighDistinction85%to100% |
|
Criteria1 Research |
Reporthasnoorverylimited use of research across a range of credible economic sources OR Insufficientresearch evident with less than 2 suitableacademicjournal articles, OR Insufficientresearch acrossarangeofcredible economic sources to gatherrelevanteconomic datafortheorganisation andindustry |
Reportdemonstrates adequate research of economicstheoretical frameworks,journals,and data. Research may be inconsistent or poorly explained or have some inaccuracies. Forexampleidentifiesand cites research from: -at least 2 suitable academicjournalarticles -othersuitable,credible economicsources. -relevant economic data fortheorganisationand/or industry |
Passstandardmet.In addition: -explanationsofresearch illustrates some good understanding of the economicsources, including: -at least 2 suitable academicjournalarticles -othersuitable,credible economicsources. -relevanteconomicdata for the organisation and/orindustry |
Creditstandardmet.In addition: -researchisthorough,from a broad range of relevant and credible economic sources. -explanations of research areclear,concise,accurate and illustrate good understanding. |
Distinctionstandardmet.In addition: - explanations of research illustratedsophisticated understandingofthatresearch. |
|
Weighting20% |
0-9marks |
10-12marks |
13-14marks |
15-16marks |
17-20marks |
|
Criteria2 EconomicAnalysisusing relevantconcepts |
Report has no or very limited use of theoretical frameworksforeconomics. Report does not satisfactorilyoutline, analyse and evaluate businessimplicationsfor the organisation using economicprinciples. Forexample: Reportdoesnotclearly articulate two distinct topicsfrom Topics1-4 OR Report has limited articulationofrelevant economicframeworks OR Applicationtoorganisation ismissing. |
Report outlines the businessenvironmentand identifiesbusiness implications for the organisationusing economic principles specifically two distinct topics from Topics 1-4. However,discussionmay bedescriptive, inconsistent or poorly explained or have small inaccuracies. Report may have limited application of economics usingorganisationaldata. |
Passstandardmet.In addition: -clear and accurate articulation of two distincteconomic principlesfromTopics1- 4. -clear application of thosetwoprinciplesto theorganisation. -discussionhassome detail -discussionismostly analyticalratherthan descriptive. |
Creditstandardmet.In addition: -applicationmakes plausible and measured connectionsbetween theoryfromindependently sourcedresearchandtheir ownorganisation/industry -applicationandanalysisis detailed and in-depth. -reportisconsistently analyticalthroughout |
Distinctionstandardmet.In addition: -reportformssupported evaluations -analysis and evaluation comprehensivelyintegrate acrosssources |
|
Weighting40% |
0-19marks |
20-25marks |
26-29marks |
30-33marks |
34-40marks |
|
Criteria3 Insightdevelopment, usingrelevantconcepts |
Report does not have implicationsorinsights. OR Report does not satisfactorilyoutline implicationsandinsights fortheorganisationusing economicprinciples OR Reportdoesnotprovide two points of personal reflection |
Reportprovides interpretation,with implicationsorinsightsfor the organisation using economic principles. The explanations may be incomplete, have minor errors,orlacksomedetail orjustification. Report provides two points of personal reflection.The explanationsmaybe incompleteorlacking somedetail. |
Passstandardmet.In addition: -clearly and accurately explain the interpretation of economic principles to draw implications and insights.Justification mightbealmostcomplete. -twopointspersonally learnt are clearly explained. |
Creditstandardmet.In addition: -the interpretation of economic principles is accurate,justified,detailed and in-depth, with clear application to the organisation to identify implications and insights. -reportrecognisessome keyassumptions -identifylimitations. -explanation of two points personallylearntisdetailed and in-depth, with completecontextualisionof why it is relevant and importantforyou,including your role in the organisation or industry. |
Distinctionstandardmet.In addition: -interpretationformulates original economicinsights throughsophisticated integration and critique of independentlysourced research,anditsapplicationto ownorganisation/industry. -in-depthdiscussionof assumptions -in-depthidentificationof limitations. -personallearningsarenovel. |
|
Weighting20% |
0-9marks |
10-12marks |
13-14marks |
15-16marks |
17-20marks |
|
Criteria4 Logicandargument |
Argumentlacksacoherent structure. Pointsassertedwithno evidence. Iftherearetablesand/or graphics, they are not integrated into the text. Executivesummaryis missing or fails to summarise. |
Argumenthassome logicalflowbetween sections. -someinconsistenciesin arguments may be present. -thereissomeevidence, although it may be insufficientlydescribed. -executivesummarymay be wordy or fail to summarise key points |
Passstandardmet.In addition: -theargumentshave goodcoherence. -iftherearetablesand/or graphics, they are integrated into the text. -evidenceisclearly described. -executive summary is a clear and concise summaryof purpose, analysisandinterpretation |
Creditstandardmet.In addition: -reportreadswith fluency. -evidenceisstrongand very clearly described. -executive summary is a very clear, concise. coherent and detailed summaryof purpose, analysisandinterpretation |
Distinctionstandardmet.In addition: -clarity of argument is outstandingandcompelling -evidenceisoutstandingand thedescriptionofevidenceis totallycompelling -executive summary is an outstandingly clear, concise, coherent and detailed summaryofpurpose,analysis andinterpretation |
|
Weighting10% |
0-4marks |
5-6marks |
7marks |
8marks |
9-10marks |
|
Criteria5
Presentationandreferencing |
Reportdoesnotcomply withtherequiredformat or style requirements. -languagemaybeunclear or contain significant errors -significantreferencing errors. -iftherearetablesand/or graphics, they are not correctly referenced and labelled throughout the report. -in-textcitationsare consistentlymissing. -Doesnothavea referencelist. |
Thereportpresentationis satisfactory.Itfollowsthe recommendedformat, meets the prescribed word count, is written in clear English (Australian spelling),andisproofread andedited. -satisfactoryapplication ofreferencingwithin-text citations. -reference list applies somecorrectreferencing using APA7referencing style, but some inconsistentreferencing practicesevident. |
Passstandardmet.In addition: -thereportiswellwritten and clearly structured, with good organisation. -iftherearetablesand/or graphics, they are correctly referenced and labelled throughout the report. -referencingiscorrectly applied with in-text citations. -referencelist consistentlyapplies correctAPA7referencing. |
Creditstandardmet.In addition: -clarityandorganisation aresuperior. -thereportisvirtuallyfree from any referencing, grammaticalorformatting errors. -referencelistcorrectly appliesreferencingstyle usingAPA7. |
Distinctionstandardmet.In addition: - report is impeccably designed from coversheet throughtotableofcontents,to headings, subheadings and reference list and appendices (if applicable). Clarity is outstanding.Thereportwould be ready for submission to a professional CEO or board withoutamendments/editing. |
|
Weighting10% |
0-4marks |
5-6marks |
7marks |
8marks |
9-10marks |
AssessmentTask2
MacroeconomicAnalysisDue:Week7
Value:45%
Format:Businessreport
Length:2,700to3,000words(donotexceedthelimitof3,000words)
Learningoutcomes:3,4,5,6
Taskdescription
Chooseyourownorganisationoranorganisationyouarefamiliarwith.
(If you are not currently working for an organisation you can approach your facilitator to getpermissiontodothisforanotherorganisationyouarefamiliarwith.Ifyouarenotworking foranorganisationthatoperatesinAustralia,approachyourfacilitatortodiscussyoursituation.)
After the RBA board meets, they publish a statement by the Reserve Bank Board: Monetary Policy Decision. In this task, you will find the most recent RBA statement, discuss two key economic indicators and their impact on your organisation, summarise the recent economic forecasts for those, articulate the benefits and costs, and make insights for your organisation based on this.
Choose the key points and how to communicate them clearly with appropriate explanations, support and headings. Some themes/organisations might require more analysis, and others might require more interpretation so the length of sections and the choice of headings could vary, but you must address the task and submission requirements below and will be assessed according to the marking rubric.
Apply the concepts from the unit to the most current economic data of the last 12 months, with a focus on the concepts from Topics 5-7:
Youarerequiredtodo:
- Research: Find the most recent RBA statement and identify two key economic trendsoreventsofthepast6-12monthsrelevanttotopics5-7.Toanalysethose trends/events, conduct research to find a range of relevant credible economic sources.Use thesesources togatherkeydataforthenationaleconomy, internationaleconomics,marketfailureandgovernmenteconomicpolicythatare relevant to your organisation and industry.
- Analysis: Based on your research, outline the national economic environment and identify business implications for the industry and/or organisation using economic principles and considering two of the most likely and most material impacts -
specifically two distinct macroeconomic topics from Topics 5-7. These might include topics such as economicgrowth, inflation, employment, RBA cash rate, exchange rate, fiscal policy, monetary policy, protectionist policies, supply-side policies,andpoliciestocorrectmarketfailure,suchasclimatepolicies.Analyseand summarisetherecenteconomicforecasts.
- Interpret: Based ontheanalysis,considerlikelyfuturescenarios, oneforeachof the material impacts identified above, and provide explanations, implications and insights for your industry and/or organisation. Consider economicimplications, benefitsandcostsifthosefuturescenariosChoose thekeypointsand howyouwillcommunicatethemclearlywithappropriateexplanations,supportand headings.
- Personal reflection:Identifyandexplaintwopointsyouhave personally learnt from this research and analysis and why they are relevant and important to you,includingyourroleintheorganisation and/orindustry.
AssessmentSubmissionRequirements
- The report should clearly state in the introduction the organisation, industry, your role/relationship to this organisation and time period. This should be succinct summarised in a sentence or two; no longer than 50
- Your assessment is to be written in a business report format, with an Executive Summary and appropriate
- Theheadingsareyourchoice,exceptthatonesectionmusthavetheheading Personal reflection, and this section is included in the word count. The recommendation is to use 250 words in total for this reflection.
- Use arange of credible economic Include a minimum of 3suitable academicjournalarticles inyourassignment.Youcansearchthe AIMLibrary database.Youalsowillneedtoalsohavetoresearchotheronlineindustryrelated databasesandarticlestosupportyourresearch.
- Note that the word limit is a strictBeyond the word limit, the assessment will not be read, and thus, any section beyond the word limit will not be marked.Note: The Executive Summary, tables, reference list, and appendices are not includedinthewordcount.
- Appendices and tables may be used to clarify and support your arguments but should not be used to circumvent the word countPlease use these sparingly. Beyond the word limit, the assessment will not be read and thus any section beyond the word limit will not be marked.
- Submit to the Assessment section of my ABS as one
AssessmentCriteria
Pleaserefertothedetailedmarkingrubriconthenextpage.
Rubric:AssessmentTask2 Macroeconomic Analysis
|
Assessmentcriteria |
Fail0to49% |
Pass50%to64% |
Credit65%to74% |
Distinction75%to84% |
HighDistinction85%to100% |
|
Criteria1 Research |
Report has no or very limited use of research acrossarangeofcredible economicsources OR Reportdoesnotrefertothe most recent RBA report OR Insufficientresearch evident with less than 3 suitableacademicjournal articles, OR Insufficientresearch acrossarangeofcredible economic sources to gatherrelevanteconomic datafortheorganisation andindustry |
Reportdemonstrates adequate research of economicsresearch, theoreticalframeworks, journals and data. Research may be inconsistent or poorly explainedorhavesome inaccuracies. Forexampleidentifiesand cites research from: -themostrecentRBA report -at least 3 suitable academicjournalarticles -othersuitable,credible economicsources. -relevant economic data fortheorganisationand/or industry |
Passstandardmet.In addition: -explanationsof researchillustratessome good understanding of the economic sources, including: -themostrecentRBA report -at least 3 suitable academicjournalarticles -othersuitable,credible economicsources. -relevant economic data fortheorganisationand/or industry |
Creditstandardmet.In addition: -researchisthorough, fromabroadrangeof relevant and credible economicsources. -explanations of research areclear,concise,accurate and illustrate good understanding. |
Distinctionstandardmet.In addition: -explanationsofresearch illustratedsophisticated understanding of that research. |
|
Weighting20% |
0-9marks |
10-12marks |
13-14marks |
15-16marks |
17-20marks |
|
Criteria2 EconomicAnalysisusing relevantconcepts |
Report has no or very limited use of theoretical frameworksforeconomics. Report does not satisfactorilyoutline, analyseandevaluatethe nationaleconomic environment for the organisationusing economicprinciples Forexample: Reportdoesnotclearly articulate two distinct topicsfromTopics5-7. OR Report has limited articulationofrecent economicforecasts OR Applicationtoorganisation ismissing. |
Report outlines the nationaleconomic environmentandidentifies business implications for the industry and/or organisationusing economicprinciples. Report summarises the recenteconomicforecasts for two of the most likely and most material impacts specifically two distincttopicsfromTopics 5-7. However,discussionmay bedescriptive, inconsistent or poorly explained or have small inaccuracies. Reportmayhavelimited applicationofeconomic data. |
Passstandardmet.In addition: -clear and accurate articulationoftwoofthe most likely and most material impacts using two distinct topicsfrom Topics5-7. -clear application of those two economic topicstotheindustry and/ororganisation. -discussionhassome detail -discussionismostly analyticalratherthan descriptive. |
Creditstandardmet.In addition: -applicationmakes plausible and measured connectionsbetween economicreportsandother theory and research, to their own industry and/or organisation -applicationandanalysisis detailed and in-depth. -reportisconsistently analyticalthroughout |
Distinctionstandardmet.In addition: -reportformssupported evaluations -analysis and evaluation comprehensivelyintegrates acrosssources. |
|
Weighting30% |
0-14marks |
15-19marks |
20-22marks |
23-25marks |
26-30marks |
|
Criteria3 Insightdevelopment usingrelevantconcepts |
Reportdoesnotidentify two likely future scenarios,oneforeach ofthematerialimpacts identified. OR Report does not satisfactorilyoutline economicimplicationsif those future scenarios eventuate for the industry and / or organisationusing economicprinciples OR Reportdoesnotprovide two points of personal reflection |
Reportprovidestwolikely future scenarios, one for each of the material impactsidentified. Report outlines the economicimplications,if those future scenarios eventuate, drawing on relevant concepts from Topics5-7. The explanationsmay be incomplete, have minor errors,orlacksomedetail orjustification. Report provides two points of personal reflection.The explanationsmaybe incompleteorlacking somedetail. |
Passstandardmet.In addition: -clearly and accurately explainthearticulationof thescenarios. -clearly and accurately explain the likely implicationsandinsights foryourindustryand/or organisation, if those futurescenarios eventuate. -justificationmightbe almostcomplete. -twopointspersonally learnt are clearly explained. |
Creditstandardmet.In addition: -the interpretation of the two scenarios is clear, accurate,justified,detailed andin-depth. -thereisclearapplication to the industry and/or organisation to identify economicimplications, benefits and costs, and insights. -reportrecognisessome keyassumptions -reportidentifies limitations. -explanation of two points personallylearntisdetailed and in-depth, with completecontextualisionof why it is relevant and importantforyou,including your role in the organisation or industry. |
Distinctionstandardmet.In addition: -interpretationformulates original economicinsights throughsophisticated integration and critique of independentlysourced research,anditsapplicationto ownorganisation/industry. -report has in-depth discussionofassumptions -report has in-depth identificationoflimitations. -personallearningsarenovel. |
|
Weighting30% |
0-14marks |
15-19marks |
20-22marks |
23-25marks |
26-30marks |
|
Criteria4 LogicandArgument |
Argumentlacksacoherent structure. Pointsassertedwithno evidence. Iftherearetablesand/or graphics, they are not integrated into the text. Executivesummaryis missing or fails to summarise. |
Argumenthassome logicalflowbetween sections. -someinconsistenciesin arguments may be present. -thereissomeevidence, although it may be insufficientlydescribed. -executivesummarymay be wordy or fail to summarise key points |
Passstandardmet.In addition: -theargumentshave goodcoherence. -iftherearetablesand/or graphics, they are integrated into the text. -evidenceisclearly described. -executive summary is a clear and concise summaryof purpose, analysisandinterpretation |
Creditstandardmet.In addition: -reportreadswith fluency. -evidenceisstrongand very clearly described. -executive summary is a very clear, concise. coherent and detailed summaryof purpose, analysisandinterpretation |
Distinctionstandardmet.In addition: -clarity of argument is outstandingandcompelling -evidenceisoutstandingand thedescriptionofevidenceis totallycompelling -executive summary is an outstandingly clear, concise, coherent and detailed summaryofpurpose,analysis andinterpretation |
|
Weighting10% |
0-4marks |
5-6marks |
7marks |
8marks |
9-10marks |
|
Criteria5 Presentationand referencing |
Report does not comply withtherequiredformator stylerequirements. -languagemaybeunclear orcontainsignificanterrors -significantreferencing errors. -iftherearetablesand/or graphics, they are not correctly referenced and labelled throughout the report. -in-textcitationsare consistentlymissing. -Doesnothavea referencelist. |
Thereportpresentationis satisfactory.Itfollowsthe recommendedformat, meets the prescribed word count, is written in clear English (Australian spelling),andisproofread andedited. -satisfactoryapplication ofreferencingwithin-text citations. -reference list applies somecorrectreferencing using APA7referencing style, but some inconsistentreferencing practiceevident. |
Passstandardmet.In addition: -thereportiswellwritten and clearly structured, with good organisation. -iftherearetablesand/or graphics, they are correctly referenced and labelled throughout the report. -referencingiscorrectly applied with in-text citations. -referencelist consistentlyapplies correctAPA7referencing. |
Creditstandardmet.In addition: -clarityandorganisation aresuperior. -thereportisvirtuallyfree from any referencing, grammaticalorformatting errors. -referencelistcorrectly appliesreferencingstyle usingAPA7. |
Distinctionstandardmet.In addition: - report is impeccably designed from coversheet throughtotableofcontents, to headings, subheadings and reference list and appendices (if applicable). Clarity is outstanding. The report would be ready for submissiontoaprofessional CEO or board without amendments/editing. |
|
Weighting10% |
0-4marks |
5-6marks |
7marks |
8marks |
9-10marks |
AssessmentTask3
Coursework:Reflection
Due:Throughouttheunit.NoworkwillbeacceptedaftertheendofWeek
- (Pleasenotethatnoextensionswillbegiven).
Format:Tworeflectionpostingsonline
Length:500wordsmaximum,perpost.Twoposts.(donotexceedthelimit)
Value:15%
Learningoutcomes:2,4
TaskDescription
Writetworeflectionpostingsofamaximumof500wordseach(1,000wordsintotal)this is mandatory contribution to the appropriate online forums.
AssessmentFormat
Theonlinepostingsareinapost-firstforum,wherestudentsseeonlywhatotherstudents
postaftertheyhavemadetheirownposting.
OnepostingbasedonaquestionprovidedbyyourfacilitatorforTopics1-4(maximum500 words). One posting basedon Topics 5-7(maximum 500 words).
NocontributionswillbemarkedaftertheendofWeek7,andnoextensionswillbegiven.
AssessmentCriteria
Pleaserefertothedetailedmarkingrubriconthenextpage.
Rubric:AssessmentTask3 Coursework: Reflection
|
Assessmentcriteria |
Fail0to49% |
Pass50%to64% |
Credit65%to74% |
Distinction75%to84% |
HighDistinction85%to100% |
|
Criteria1 Accurateapplicationof relevantconcepts |
Doesnotprovidetwo posts. Or the posts do not answerthequestion. Or the posts do not discussrelevanteconomic concepts from the BusinessEconomics Topics1-7. |
Eachpostanswersthe question. Adequate discussion in each post of oneor more of the relevant economic conceptsfromTopics1-7. |
Passstandardmet.In addition: - clear and accurate articulationineachpostof one or more relevant conceptsfromTopics1-7. |
Creditstandardmet.In addition: -thearticulationofthe concept is detailed -theapplicationisprecise, detailed and in-depth. |
Distinctionstandardmet.In addition: -outstandingarticulationand application of the relevant concepts. |
|
Weighting50% |
0-24marks |
25-32marks |
33-37marks |
38-42marks |
43-50marks |
|
Criteria2 Insightdevelopment usingrelevantconcepts |
Doesnotprovidetwo posts. Or the posts do not answerthequestion. Orthepostsdonot discussinsights. Or the insights might not drawonrelevantconcepts from Topics 1-7. |
Both posts provide some relevantinsights,drawing on one or more relevant conceptsfromTopics1-7. Theinterpretation: -mightnotbeclear,or -mightnotclearlydrawon conceptsfromTopics1-7. |
Passstandardmet.In addition,the interpretationinboth posts: -isclearlyarticulated -drawslogicallyononeor more relevant concepts from Topics 1-7. |
Creditstandardmet.In addition: -the articulation of the insightsisclearlyjustified. -insightshavegoodlevelof detail and discussed in- depth. |
Distinctionstandardmet.In addition: - outstanding and novel articulationofinsightsusing relevantconcepts. |
|
Weighting50% |
0-24marks |
25-32marks |
33-37marks |
38-42marks |
43-50marks |
