Title:
Economics for Business (EFB)
Module
This excludes bibliography and other items listed in rule 6.83 of the
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:
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%.
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
DoS@london.aru.ac.uk. 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 – DoS@london.aru.ac.uk.
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
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:
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 subheadings. 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 realworld example per task from the UK market from between 2010-2019.
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.
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)
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.