Economics for Business (BEC): Interim Written Assessment Prep & Review

Assessment topic: "Production decisions in UK manufacturing between 2010 to 2019"

-Basic instructions, format guidance,

-references Assessment topic: “UK production decisions 2010-2019”

-Task 1: Inputs and costs in UK production decisions

-Task 2: Market competition in UK industries,

1. Complete 4 weeks of learning in the 8 classroom lectures (past recordings for Lectures 1-8 available on VLE)

2. Complete 4 weeks of independent reading of the Krugman & Wells (2020) textbook on Koretext & 8 lectures slides review (covering Chapters 1-9) Apply this knowledge to the assessment topic,

3. using your academic research & writing skills, to demonstrate your understanding of economics principles in action.

1. Basic instructions, format guidance, references Assessment topic: “UK production decisions 2010-2019”

2. Task 1: Inputs and costs in UK production decisions

3. Task 2: Market competition in UK industries

4. Key lectures review: Lectures 1-8.

1. What is the word limit?

2. What is the value of this assessment for the final mark?

3. When is the assessment due? What two things must be on every page?

4. What should NOT appear anywhere? 

5. What are your three options if you’re concerned about missing the deadline or submitting too low-quality work?

-Cover page with student ID, module name & code, date, coursework title, & word count. Do not include your name anywhere (including in the Word doc title). Only submit a Word file, no PDF files accepted. 

-All pages must be numbered, student ID at top of each page (excluding the cover page).  Your coursework needs an introduction paragraph and a conclusion paragraph, covering both task 1 and task 2. 

-You may choose to write an executive summary at the beginning, this is NOT included in the total word count.  

-Base your economic analysis primarily on content from Lecture 1-8 & required readings Ch. 1-9 of the Krugman & Wells (2017) textbook on Kortext to demonstrate your module content learning, applied to real events in the UK, supported by approved literature citations (NEXT). 

-Finish assessment with a Harvard-style list of all your references from only approved data sources in alphabetical order by author surname.  Use at least five different approved data sources, must include materials from the Krugman & Wells (2020) EFB module textbook.  

-Plain formatting is preferred. Avoid unnecessary coloured text or decorative images that are not directly providing data.

-A simple table of contents after the cover page is acceptable but not required. 

- AlwaysCheck spelling, formatting, graph labels, in-text citations, referencing, and grammar before submission to avoid loss of marks.

This assessment focused on: How inputs and costs impact production decisions related to the supply of goods and services, based on real-life examples in the UK economy 2010-2019.

How “perfect competition” or highly competitive markets impact the supply of goods and services, based on real-life examples in the UK economy 2010-2019.

1. Core of economics is individual choices: Resource scarcity, opportunity costs

2) Economies work through interactions: Gains from trade, equilibrium, resources & market efficiency Market failure -> Government intervention

3) Economy-Wide Interactions:  Spending vs income, income vs economy’s productive capacity.