When and why do inputs and costs impact the production decisions related to the supply of goods and services? Explain these economic concepts using examples from within the UK economy between 2010 and 2019

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ASSIGNMENT INSTRUCTIONS

MOD3327 Economics for Business (EFB)

Assessment

Coursework assessment report

Assessment code:

010

Academic Year:

2021/2022

Trimester:

1

Module Title:

MOD3327 Economics for Business (EFB)

Module Code:

MOD3327

Level:

4

Module Leader:

 

Weighting:

50%

Word Limit:

2,500 words

This excludes bibliography and other items listed in rule 6.83 of the Academic Regulations: http://web.anglia.ac.uk/anet/academic/public/academic_regs.pdf

Assessed

Learning Outcomes

1 – 3

Submission Deadline:

Please refer to the deadline on the VLE

WRITING YOUR ASSIGNMENT:

  • This report assignment must be completed individually.
  • You must use the Harvard referencing system.
  • Your work must indicate the number of words you have used on the cover page.  Written assignments must not exceed the specified maximum number of words. When a written assignment is marked, the excessive use of words beyond the word limit is reflected in the academic judgement of the piece of work which results in a lower mark being awarded for the piece of work (regulation 6.74).
  • Assignment submissions are to be made anonymously. Do not write your name anywhere on your work.
  • Write your student ID number at the top of every page.
  • Where the assignment comprises more than one task, all tasks must be submitted in a single document.
  • You must number all pages.

SUBMITTING YOUR ASSIGNMENT: MOD3327 Economics for Business (EFB)

In order to achieve full marks, you must submit your work before the deadline. Work that is submitted late – up to five working days after the published submission deadline - will be accepted and marked. However, the element of the module’s assessment to which the work contributes will be capped with a maximum mark of 40%.When and why do inputs and costs impact the production decisions related to the supply of goods and services? Explain these economic concepts using examples from within the UK economy between 2010 and 2019

Work cannot be submitted if the period of 5 working days after the deadline has passed (unless there is an approved extension). Failure to submit within the relevant period will mean that you have failed the assessment.

Requests for short-term extensions will only be considered in the case of illness or other cause considered valid by the Director of Studies Team. Please contact [email protected]  A request must normally be received and agreed by the Director of Studies Team in writing at least 24 hours prior to the deadline. See rules 6.64-6.73: http://web.anglia.ac.uk/anet/academic/public/academic_regs.pdf

Mitigation: The deadline for submission of mitigation in relation to this assignment is no later than five working days after the submission date of this work. Please contact the Director of Studies Team - [email protected]

See rules 6.112 – 6.141: http://web.anglia.ac.uk/anet/academic/public/academic_regs.pdf

ASSESSMENT QUESTION: Production decisions in UK manufacturing between 2010 to 2019 - MOD3327 Economics for Business (EFB)

Task 1: 45/100 marks: Answer the following question

“When and why do inputs and costs impact the production decisions related to the supply of goods and services? Explain these economic concepts using examples from within the UK economy between 2010 and 2019”

· Task 2: 45/100 marks: Answer the following question

“Define and explain how perfect competition or a highly competitive markets impact the supply of goods and services? Explain these economic concepts applied to a specific highly competitive UK-based industry between 2010 and 2019”

· References & formatting: 10/100 marks TOTAL MARKS: 100/100

ASSESSMENT CRITERIA: MOD3327 Economics for Business (EFB)

For both Task 1 and Task 2 - Students must demonstrate the following assessed learning outcomes:

Learning objective

Assessment criteria

LO 1

Knowledge, understanding, and fluency with module content on selected economics topic for presentation, linked to relevant module lectures and Krugman & Wells (2020) textbook chapter

LO 2

Knowledge and understanding of the basic methodology and models used in economics and their application to real-world situations.

LO 3

Intellectual, practical, effective and transferable skills, which is achieved through demonstrating the ability to analyse hypothetical and/or real-world situations that occur in economics.

ASSESSMENT GUIDANCE:

  • This task is a REPORT which involves separate sections under sub- headings. It can include a table of contents, relevant graphs and images from approved reference sources listed below. It does not typically include a thesis statement. It must have an introduction and a conclusion paragraph that are consistent with Task 1 and Task 2 topics.
  • The report should clearly explain and discuss the majority of the key topics from Lectures 6 and 7 and their corresponding explanations in Chapters 6 & 7 of Essentials of Economics (Krugman & Wells, 2020).
  • Each task should use the key lectures and chapter topics to explain production decisions using researched real-world examples from the UK industries between 2010-2019 (during the decade prior to the Covid-19 pandemic and before the United Kingdom left the European Union).
  • The report should discuss production decisions by using at least one real- world example per task from the UK market from between 2010-2019 MOD3327 Economics for Business (EFB)

References & formatting guidance:

  • Required: Cover page. Use of Harvard style in-text citations and references. Use of only authorised reference sources. Use of Essentials of Economics (Krugman & Wells, 2020) and MOD3327 EFB lecture content. Clear formatting throughout (font, margins, spacing, etc.). British English spelling and grammar. Use of GBP£ only for any currency references - the case study is the UK manufacturing market.
  • Avoid: Decorative document formatting, unnecessary colours, irrelevant images, inconsistent text or page formatting, use of unauthorised reference sources, use of irrelevant case study countries.
  • When and why do inputs and costs impact the production decisions related to the supply of goods and services? Explain these economic concepts using examples from within the UK economy between 2010 and 2019

Approved data sources:

(Do NOT use any external sources that are not on this list or you will risk the loss of significant marks. These sources provide more than sufficient information to complete the assessment):

ARUL sources (*required reading):

*Krugman and Wells. 2020. Essentials of Economics. New York: Worth Publishers. Pages 355-451.

*Young, M. 2021 Lecture 6: Supply curve, inputs, and costs. MOD3327 Economics for Business. Anglia Ruskin University of London.

*Young, M. 2021 Lecture 7: Perfect competition and market efficiency. MOD3327 Economics for Business. Anglia Ruskin University of London.

ARUL Digital Library sources available online (you must include ARUL website URL for any ARUL Digital Library sources used in references)

When and why do inputs and costs impact the production decisions related to the supply of goods and services? Explain these economic concepts using examples from within the UK economy between 2010 and 2019

UK news sources: BBC News, Financial Times newspaper, London Evening Standard, The Economist, The Guardian newspaper, The Independent, The Telegraph

UK Government information sources:

UK Office of National Statistics (ONS)

UK Government websites ending in “gov.uk” or “parliament.uk”

Any data sources used outside of the above will be subject to investigation for plagiarism, contract cheating, resulting in loss of marks and possible failure of the assessment and possible failure of the module. MOD3327 Economics for Business (EFB)


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