Required Reading below, to be used as main reference
Need answer to this question?
Order an original paper Now!
We’re giving you a 15% discount on your first Order.
Discount Code: SKILNEW15
Use the above discount code during checkout
- Core text:
- Sloman, J., Garratt, D. and Guest, J. (2022). Economics. 11th edition. Pearson.
NOTE FROM TUTOR: GUIDELINES TO FOLLOW:
- Structure
- Clarity – Make it easy for the reader
- Consistency at the level of the content and presentation
- Use the same format, indicators and analysis
- Introduction
- Capture attention
- How the report is structured
- Indicators that will be used
- Definitions you will adopt
- Develop your ideas
- Must add DATA, STATS, various Graphs, and Tables
- To answer these questions : Use economic concepts, theoretical arguments, diagrammatic analysis, data form sources such as the IMF, World Bank, national stats, etc.
- Use examples and cases to illustrate the arguments you make.
- Guidelines for Question 1
- Refer to the reading list posted on Canvas to inform your discussion or, better, conduct your own research!
- You need to demonstrate a clear understanding of the relevant theories – this is very important
- The use of examples/cases will help you establish a link between theoretical framework and observed evidence and illustrate the arguments and claims you make
- “Nations do not trade; it is firms that trade. The simple truth makes it clear that understanding the firm-level facts is essential to good policy making.” Mayer and Ottaviano (2007)
- Guidelines for Question 2
- We expect to see evidence that you understand the concepts involved
- And that you can apply them to the ‘real world’, so:
General tips: For all questions
- Take time to THINK before you write
- Make sure you ANSWER THE QUESTION
- Ask yourself what exactly the question wants you to do, what theory it wants you to use and how you should use it.
- Be concise
- Use formal methods of analysis including diagrams
- Use real life examples where relevant
- Charts should be clearly labelled with titles and axes and referred to in the text, i.e. don’t just dump charts into a report and fail to discuss them
- A mix of business and academic references is welcome to support your arguments but make sure that any references are mentioned in the body of the report. Any references which are just ‘dumped’ will be ignored;
- Go back through the content of the relevant unit, the exercises and identify any problems or areas you are unclear on and read up in the textbook if necessary
- Don’t forget to look at the case studies and examples so you can refer to them to illustrate the arguments you make
First Class Answer’
- Original Question: ‘Compare and contrast the effects of blindness and deafness on learning and educational attainment’.
- 70+ answer: ‘Identify the consequences of blindness and deafness for learning and educational attainment. Compare and contrast these consequences, drawing conclusions about the nature of learning and commenting on the adequacy of theories of learning’.
- 60-69 answer: ‘Identify the consequences of blindness and deafness for learning and educational development. Compare and contrast these consequences’.
- 50-59 answer: ‘List some of the features of blindness and deafness. List some consequences for educational attainment’.
- 40-49 answer: ‘Write down anything you can think of about blindness, deafness, child learning and educational attainment in the order in which you think of things. Draw no justified conclusions’.
Your Task: Country chosen – UAE
Your assignment is as follows:
Write a report answering ONE of the questions from the options below.
Question 1
This question covers Units 3 and 5 on macroeconomic analysis and Unit 7 on the world economy and trade.
Answer all parts of the question.
- In recognition that GDP is considered an imperfect measure of welfare (and was not developed for the purpose) outline up to two alternative measures that could be used to better represent the welfare of your country. Explain why you have selected the measure(s) you describe and discuss their limitations and the extent of any overlap with GDP.
- Contrast how (and why) the GDP of your country and the alternative measure(s) of the welfare of your country that you discuss in part 1 of the question, were impacted by the COVID-19 crisis.
- Use theories of international trade to explain: what makes your country successful in relation to the products it exports to international markets; why your country imports the product it imports; and why your country trades with the countries that it trades with.
Guidelines for this question:
To answer this question use economic theory and concepts diagrammatic analysis and other evidence including data and figures (e.g. from the World Bank, IMF, UNCTAD and the Observatory of Economic Complexity). Present the data you use in graphs and/or tables.
Your country can be interpreted as the country you currently live or work in, or a country you have previously lived or worked in.
Higher marks can be gained by applying macroeconomic theory in part 2, splitting GDP into its components (in part 1 or part 2) including values of exports and imports and linking this latter detail to your answer in Part 3.
For your answer to part 3 of the question you may find it useful to review Unit 7 7.4.4 Think Point 2 in Think Points on International Trade for examples of the kind of data illustrations (they are called tree maps) that are available from the Observatory of Economic Complexity (to access: go to the OEC website (https://oec.world/Links to an external site.) click on Tools and then Tree maps and select your country from the country ‘profile’ option). You may also find it helpful to explore data and graphics on revealed comparative advantage provided by UNCTAD (https://unctadstat.unctad.org/EN/RcaRadar.htmlLinks to an external site.).
Question 2
This question covers Units 2 & 6 on Supply and Demand and Markets.
Answer all parts of the question.
Referring to the article below which reports on the New Zealand market for mānuka honey:
Analyse the challenges faced by honey producers and other types of primary food producers who need to make supply decisions based on projected demand but face long time lags in supply.
In your answer use demand and supply analysis to:
- illustrate the effects of shifts in supply and demand over time;
- show how the availability of substitutes and complements influences demand;
- show how the impact of shifts in demand and supply is affected by the elasticity of supply and demand;
- consider the implications of the kinds of challenges you discuss for government led interventions in agricultural markets.
Guidelines for this question:
To answer this question please refer to the article below and use economic concepts and diagrammatic analysis. In addition to the case of mānuka honey, you may use other examples and cases to support your arguments.
If you cannot access the link to this article the article is available here: New Zealand drowning in manuka honey after a boom in beekeepingDownload New Zealand drowning in manuka honey after a boom in beekeeping
Assignment Guidance
- Your report should be no more than 2,000 words in total and must be your own original work.
- References are not in included in the word count.
- Diagrams and small tables should be integrated into the report; longer ones should be included in an appendix.
- Words in diagrams, tables and appendices are not to be included in the word count. However material in appendices will not be given equal importance to materials in the main report.
- The use of economic concepts, arguments and analysis (e.g. diagrams) is required. The use of data and graphs is highly recommended.
Marking
This activity will be assessed on a 100-point scale, and the mark you receive for this assignment will be based on the following criteria:
| Clarity, conciseness & overall coherence (structure) | 20 points |
| Relevance of response to question | 20 points |
| Application of economic theory and concepts | 20 points |
| Diagrammatic/mathematical/statistical/ other quantitative/rigorous analysis | 20 points |
| Knowledge, understanding of topic & critical insight | 20 points |