ECO511 Economics for Business

ECO511 Economics for Business

Session 3 2017

ECO511 Economics for BusinessFaculty of Business, Justice and Behavioural Sciences

School of Accounting and Finance

Internal Mode

Subject Coordinator    Humayun Murshed

Email    cheaponlineassignmenthelp@gmail.com

Phone   To be advised.

Campus    Other

Building/Room number    To be advised.

Consultation procedures

Your subject coordinator will be available for consultation. You will be informed of the consultation procedures via your Interact2 subject site; as well as the names, contact details and consultation procedures for any other staff teaching the subject.

If you cannot contact your Subject Coordinator, please contact your teaching team using the contact details and consultation procedures provided on your Interact2 subject site.

What is your subject about? A brief overview

This subject introduces students to the economist’s way of thinking about the activities of individuals and institutions (both private and government) which determine the nature of our business and social environment. The subject presents, applies and assesses the key theoretical principles in Microeconomics and Macroeconomics that enable us to make sensible decisions in a complex world.

Learning outcomes

On successful completion of this subject, you should:

be able to apply demand and supply analysis to make a range of market related decisions be able to identify and critically evaluate opportunities for specialisation and exchange be able to make decisions that incorporate the relevant benefits and cost analysis

be able to explain and defend why it is important to understand the structure of the market in which a firm operates

be able to critically examine and demonstrate why it might be necessary for government to intervene in the production of goods and services and in the distribution of income

be able to examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives.

Pass Requirements

You must obtain at least 50% in both the examination and the total mark in order to pass this subject.

You must pass the exam to pass the subject.

To be eligible for the grade AA or AE you must have submitted all assessment items in the subject, including the final exam. If you choose not to complete an assessment item or do not sit the final exam then you will not be granted an AA or an AE grade.

Charles Sturt University Subject Outline

Key Subjects

Passing a key subject is one of the indicators of satisfactory academic progress through your course. You must pass the key subjects in your course at no more than two attempts. The first time you fail a key subject you will be ‘at risk’ of exclusion; if you fail a second time you will be excluded from the course.

The Academic Progress Policy (https://freeassignmenthelp.com/view.current.php?id=00250) sets out the requirements and procedures for satisfactory academic progress, for the exclusion of students who fail to progress satisfactorily and for the termination of enrolment for students who fail to complete in the maximum allowed time.

Assumed knowledge

Academic integrity means acting with honesty, fairness and responsibility, and involves observing and maintaining ethical standards in all aspects of academic work. This subject assumes that you understand what constitutes plagiarism, cheating and collusion. If you are a new student we expect you to complete the modules called Academic Integrity at CSU (https://freeassignmenthelp.com/webapps/blackboard/execute/courseMain?course_id=_16412_1&task=true

Prescribed Text

The prescribed text is Hubbard, G., Garnett, A., Lewis, P. and O’Brien, T. (2015) Essentials of Economics, Pearson Australia: Frenchs Forest.

In addition, students are encouraged to purchase access to MyEconLab (to accompany above). Although no formal use will be made of the material contained in this site it does represent an excellent aid to your learning in this subject.

Further, students are expected to have access to the news media (newspaper, TV, radio, on line media etc) as the subject will draw upon material sourced from current media reports to provide examples of economics in action. You will also be expected, in assessment tasks (including the exam), to draw upon current events to illustrate your answers. In this subject I will be making regular reference to articles in the Australian to assist you. Many of the references will be to items that are covered by other media outlets and there is no requirement that you use material from the Australian. However, accessing articles I refer you to will require that you have access to the Australian. As you will discover when you click on the link to each article, you will be asked to become a subscriber. Whether or not you choose to become a subscriber is entirely up to you. However, it is highly recommended. Unfortunately, given copyright restrictions, I am not able to make these articles available to you. An alternative is for you to Google similar articles using key words from the URL’s I provide to the Australian material.

The textbooks required for each of your enrolled subjects can also be found via the Student Portal Textbooks (http://freeassignmenthelp.com/study/study-essentials/textbooks) page.

Subject and Assessment Schedule

Schedule

ECO511 ECONOMICS FOR BUSINESS

WeekDateTopicTextOptionalAssessment & Notes
readingReading
113 Nov1. Models andChs 1Appendix
market& 21
Charles Sturt University Subject Outline
ECO511 201790 S I-25 October 2017-Version 1Page 2 of 27

ECO511 Economics for Business

220 Nov2. DemandChs 3Appendix
and supply& 43
327 Nov3. EfficiencyCh 5Assignment 1, Census Date: 1
December 2017
44 Dec4. Analysis of theChs 6
firm (I)& 7
511 Dec5. Analysis of theChs 8
firm (II)& 9
618 Dec6. Factors ofCh 10
production
725 DecMid-session Break
Additional7. GovernmentCh 11
Lecture (TBA)intervention
8. KeyChs 12Assignment 2, PH: New Year’s Day 1st
81 Janmacroeconomic
&13January 2018 (Monday)
variables
98 Jan9. AggregateCh 14
demand and supply
1015 Jan10. MoneyCh 15
1122 Jan11.Monetary andChs 16Assignment 3, PH: Australia Day 26th
fiscal policy&17January 2018 (Friday)
1229 Jan12. The openChs 18
economy&19
Exam5 FebExam Period

Please see below Additional/Replacement Class Requirements for this session:

  • One extra class is to be scheduled within the teaching period to complete the 12 weeks teaching plan
  • Classes running on Monday 1st January 2018 and Friday 26th January 2018 (Public Holiday) will have another replacement class

Subject Content

Information regarding the subject’s content is outlined above in the Schedule.

Subject Delivery

Class/tutorial times and location

If you are enrolled in an internal offering of this subject, your class times can be found at Timetable @ CSU (http://freeassignmenthelp.com). If you are enrolled in the online offering of the subject, this timetable will not apply. Find out how to use Timetable @ CSU via the Student Portal Class Timetable (http://freeassignmenthelp.com/study/study-essentials/timetable) page.

Learning, teaching and support strategies

Please send a brief message regarding the issue and include the subject name and code in your email – it really helps to know which class you belong to before I respond to your query. If you prefer to phone me that is fine, but please leave a message if I do not answer at the time – I will give you a call back as soon as I can.

In addition to contact with me, I offer the following suggestions for engagement in this subject. Access the Interact site and follow the advice for each topic. Read the Overview and take note of the Learning outcomes of the topic. A Commentary will provide you with advice on the best way to approach the topic and the items you will need to focus on. Read the allocated reading and Watch any videos that have been prepared by me to assist your understanding of the topic. It is advisable to test your knowledge of what you have learned. Therefore, you should spend some time making sure that you attempt the Activity items that are available to you. For example, you can answer the review questions and problems at the end of each chapter and, you can utilize the textbook’s companion website MyEconLab. Finally you can become involved in Discussion Activity by posting to the discussion board or attending the fortnightly online meetings at 7.30 PM Thursday (beginning in week 2) where specified Topic questions will be discussed.

In this subject we will meet for a 3 hour session where we will discuss that week’s topic. Before you come to class you need to have looked at the online activities in the Interact site and read the text so that you can contribute to the class and derive more meaning from the activities that we will do in class. We will spend class time working through the topic questions, discussing them and preparing responses. In addition we may use video, games and case studies to enhance understanding of certain topic areas.

It is helpful to have a small task to complete early in the session so that you have a focus in the subject from the very first day, and so the first assessment is set for this purpose. If you do not perform well in this assessment you may be contacted to discuss how we can support you better in this subject.

The modules for this subject have been written specifically to guide you through the sections (and questions) of the prescribed textbook relevant to each topic.

You should check the Interact2 Site at least weekly for postings, announcements, lecture information and other resources that will assist your studies or additional information and resources vital to your success in the subject.

Studying at university does not mean studying alone. During class you will have an opportunity to interact with the lecturer as well as your peers.

Use the subject schedule to plan your studies over the session.

Academic learning support

Information on effective time management is available on the CSU Learning Support website via the following link:

Visit the learning support website for advice about assignment preparation, academic reading and note-taking, referencing, and preparing for exams at: http://freeassignmenthelp.com/study

The Study Centres also offers a range of workshops specifically targeting your needs as an

international student. These workshops run multiple times per week and build into the comprehensive

Academic Skills Development Program that you should participate in. Additionally, a number of

student volunteers are available to assist you in a program known as Discipline Support Sessions.

Please see the timetables for these programs on the noticeboards on campus and also via the iLearn

Interact2 Organisation site.

You may also contact:

Angela Maag

Study Support Manager

Phone: 02 9291 9358

E-mail: cheaponlineassignmenthelp@gmail.com

Dr Susan Lee

Study Support Coordinator

Phone: 02 9291 9337

E-mail: cheaponlineassignmenthelp@gmail.com

Elaine Rodrigues

Study Support Coordinator (Intervention)

Phone: 02 8055 3413

E-mail: cheaponlineassignmenthelp@gmail.com

Charles Sturt University Subject Outline

For appointments, please see Reception.

Queries regarding the content of this subject should be directed to your Subject Lecturer.

Library services

CSU Study Centre Library Collection

The CSU Study Centre Library Catalogue is online at:

http://freeassignmenthelp.com/primo_library/libweb/action/search.do?vid=SGA

You can search for books in the local Sydney library collection. You are able to Sign In to the CSU Study Centre library catalogue online to place requests for books that are on loan to other students, check their library record, and renew loans prior to the due date. This library service is available online 24/7.

When books with outstanding requests are returned to the CSU Study Centre Library, an email will be automatically sent to the next student who is waiting for that book.

CSU Library

The CSU Library online provides access to online and print material, using Primo Search to find:

http://freeassignmenthelp.com/library

Online journal articles

eBooks

Print books from CSU Library (Interlibrary loans may be requested by Post-Graduate

students- see the Library Manager)

Company and government reports

eJournals

Dissertations & theses

Newspapers including Business & Financial newspapers in Factiva (see Business & IT Journal databases)

Other Reference resources (eg. Australian Bureau of Statistics, Australian standards, online encyclopaedias & dictionaries to be read on the computer

You will also find library guides, Subject Reserve for any readings, eg. ACC100, BUS100, ITC100, etc., and online assistance via free call phone number 1800 808 369, or Ask a Librarian – Live Chat or Web Form.

Other CSU Library services and resources:

https://freeassignmenthelp.com/library/study-research

Video tutorials in research skills, finding journal articles for assignments, topic analysis Endnote referencing software

Other online library services to help you successfully complete your assignments

Online Tutorials

http://freeassignmenthelp.com/library/study-research/training-tutorials-videos

Learn how to:

Use Primo Search to find eReserve study materials and journal articles

Search journal databases and web resources for information for your assessment tasks Identify appropriate sources of information and peer reviewed material, to evaluate resources

Subject Library Resource Guides

Subject Library Guides are a great way to get started with research. Each online guide is tailored to a specific area of study, including Accounting, Business and Information Technology outlining how to research in your area and where to look for information.

Friendly and quick assistance is available. Ask for help finding information and navigating the library’s extensive eResources.

National Library of Australia – Trove database

The Trove database from the National Library of Australia provides access to many different online resources on any subject.

University of Technology Sydney – Blake Library

All students with a CSU student card can access University of Technology, Sydney (UTS) library for free 10 times per year or paying $50 per year to join CAUL scheme to borrow books and use the UTS library within the guidelines set down by UTS. Access restrictions may be in place during exam periods. The UTS Blake library is located near Chinatown: corner Quay Street & Ultimo Road, Haymarket. Phone: 02 9514 3666.

Contact Details below for any student enquiries:

CSU Study Centre Darlinghurst Library

Alice Messerer

Library Manager

Phone: 02 9291 9326

Email: cheaponlineassignmenthelp@gmail.com (cheaponlineassignmenthelp@gmail.com)

Zora Janeva

Senior Library Technician

Phone: 02 9291 9315

Email: cheaponlineassignmenthelp@gmail.com(cheaponlineassignmenthelp@gmail.com)

Residential school

You are not required to attend a residential school for this subject.

Your workload in this subject

CSU Academic Senate policy states that a standard 8 point subject should require you to spend a total of 140-160 hours engaged in the learning and teaching activities. This means an average of 9 to 12 hours each week. This subject complies with this policy.

Each week you should spend around 9-11 hours studying this subject, obviously some weeks may require more time than others depending on how you work, but the following is a guide for your information.

Weekly lectures and tutorials3.0 hours
Readings and online materials2.0 Hours
Preparation of answers to topic review questions3.0 hours
Online quiz for reinforcement of learning1.0 hour
Preparation of assessment items2.0 hours

Charles Sturt University Subject Outline

Assessment Items

Item numberTitleTypeValueDue date*Return date**
1Assignment 1: Short Answer QuestionsAssignment10%27-Nov-201718-Dec-2017
2Assignment 2: Essay QuestionAssignment30%01-Jan-201823-Jan-2018
3Assignment 3: Problem QuestionAssignment15%22-Jan-201813-Feb-2018
4Final ExamExam45%To be Advised.
  • due date is the last date for assessment items to be received at the University
  • applies only to assessment items submitted by the due date

Assessment item 1

Assignment 1: Short Answer Questions

Value: 10%

Due date: 27-Nov-2017

Return date: 18-Dec-2017

Length: Approximately 500 words

Submission method options

Alternative submission method

Task

Assignment 1 consists of two short answer questions (worth 5 marks each) based on Text material. Before attempting this assignment you are expected to have read Text chapters 1, 2, 3 and 4. Sources used in your answer should be fully referenced in APA 6th style.

Answer the following questions ensuring that you apply economic principles or theory related to (a) the concepts of supply and demand for Question 1 and (b) the concepts of specialisation and exchange for Question 2 to inform your analysis and support your decisions. Communicate your ideas with correct grammar, spelling and writing style and support your answers with diagrams as necessary.

Question 1 (5 marks)

Explain the concept of the price elasticity of demand and provide examples where understanding the nature of the price elasticity of demand has been important in the decision making of a firm.

Question 2 (5 Marks)

Explain the concepts of comparative advantage and absolute advantage and provide examples of situations in which countries have ignored the principle of comparative advantage to their cost.

Rationale

This assignment provides an opportunity for you to demonstrate that you have engaged with the subject and that you are familiar with the use of the model of supply and demand and concepts of specialisation and exchange.

The questions address the following learning outcomes:

Learning Outcome 1: be able to apply demand and supply analysis to make a range of market related decisions.

Learning Outcome 2: be able to identify and critically evaluate opportunities for specialisation and exchange.

Marking criteria

CriteriaHD (85%)DI (75-84%)

FL

CR (65-74%)                                           PS (50-64%)

(0<50%)

Questions 1 andLanguage features and structures
2: Academicare used to convey meaning
writing clearlyeffectively, clearly, concisely,
communicatesunambiguously, and in a tone
meaning (10%appropriate to the audience and
weighting).purpose with no spelling,
grammatical, or punctuation errors.

Language features and structures are used to convey meaning effectively, clearly, unambiguously, and in a tone appropriate to the audience and purpose with few spelling, grammatical, or punctuation errors.

The text contains some errors in spelling, grammar, word choice, and structure, lacks clarity occasionally, and may not be concise, but the meaning is apparent to the reader with little effort.

The text contains frequent errors inFails to
spelling, grammar, word choice,meet
and structure, lacks clarity, and iscriteria
not concise, but the meaning isfor a
apparent to the reader with somepass.
effort.

ECO511 Economics for Business

Questions 1 andReferencing is comprehensive,
2: Academicdemonstrates academic integrity,
writing includesand conforms exactly to APA style
APA 6thconventions.
referencing (10%
weighting).

Referencing is comprehensive, demonstrates academic integrity, and conforms to APA style conventions with fewer than three minor errors or omissions which don’t impact on the transparency and traceability of the source or the demonstration of academic integrity.

Referencing is comprehensive and mostly accurate according to APA style conventions. Up to eight minor errors or omissions in style and formatting choices (e.g. italics, punctuation, underlining) don’t impact on the transparency and traceability of the source, or the demonstration of academic integrity.

Referencing is comprehensive andFails to
mostly accurate according to APAmeet
style conventions. Frequent minorcriteria
errors or omissions in style andfor a
formatting choices (e.g. italics,pass.
punctuation, underlining) don’t
impact on the transparency and
traceability of the source, or the
demonstration of academic
integrity.

ECO511 Economics for Business

Question 1:The answer synthesises the most
Analyses supplyimportant elements of the theory of
and demanddemand and supply with new
components toinsights providing an in-depth
provide marketapplication of demand and supply
relatedtheory along with clearly labelled
recommendationsrelevant diagrams to produce a
and or decisionscomprehensive analysis that is used
(80% weighting).as the basis for identifying the
correct decisions within the context
of specific market circumstances.
Question 2:The answer synthesises the theory
Correctly utilisesin relation to specialisation and
trade theory toexchange with new insights
identify andproviding an in-depth application
criticallyof trade theory along with clearly
evaluate iflabelled relevant diagrams to

The answer evaluates the theory of demand and supply and uses the theory to analyse the question. Decisions based on analysis correctly reflect the options available given specified market conditions and are presented through a sound argument showing good judgement. However, minor errors have been found in the narrative or use of diagrams.

The answer evaluates the theory in relation to specialisation and exchange and uses the theory to analyse the question. Decisions based on analysis correctly reflect the options available with respect to

The answer correctly interprets the theory of demand and supply to analyse the question. Decisions based on analysis correctly reflect the options available given specified market conditions. However, some errors have been found in the narrative or use of diagrams.

The answer correctly interprets the theory in relation to specialisation and exchange to analyse the question. Decisions based on analysis correctly reflect the options

The answer identifies the mostFails to
important elements of the theory ofmeet
demand and supply to analyse thecriteria
question. Decisions based onfor a
analysis correctly reflect thepass.
options available given specified
market conditions. Limited
explanation and poor use of
diagrams provides marginal
support for the conclusions drawn.
The answer identifies the mostFails to
important elements of trade theorymeet
in relation to specialisation andcriteria
exchange to analyse the question.for a
Decisions based on analysispass.
correctly reflect the options

ECO511 Economics for Business

CriteriaHD (85%)DI (75-84%)

FL

CR (65-74%)                                           PS (50-64%)

(0<50%)

opportunitiesproduce a comprehensive analysis
exist forthat is used as the basis for
specialisationidentifying the correct decisions
and exchangerelating to specialisation and
(80% weighting).exchange within the context of
specific market circumstances

specialisation and exchange given specified market conditions and are presented through a sound argument showing good judgement. However, minor errors have been found in the narrative or use of diagrams.

available with respect to specialisation and exchange given specified market conditions. However, some errors have been found in the narrative or use of diagrams.

available with respect to specialisation and exchange given specified market conditions. Limited explanation and poor use of diagrams provides marginal support for the conclusions drawn.

Presentation

Answers should be typed and diagrams must be clear and neat and preferably drawn electronically. Hand-drawn diagrams are acceptable. Sources used in your answer should be fully referenced in APA 6th style. The answer to the question should be divided into three parts:

Part 1: Introduction

The introduction sets up your response by succinctly stating your understanding of the issues, what you think is the best way to analyse the situation – including choice of theory and sources of evidence, what type of findings you expect and what potential applications you expect there to be.

Part 2: Analysis

The analysis will represent the bulk of your work. Here you will provide your answer in detail by drawing upon the literature, the theory and the evidence to come up with an answer to the question posed. You may find that you want to break this section up into a number of sub-parts – one for a detailed discussion of the issues including your non-technical response, one for a detailed analysis of the tools of analysis you will use (theory), one for your extensive consideration of the evidence, one where you draw together your information and findings along with their implications.

Part 3: Conclusion

In the conclusion you briefly and succinctly review what you have done in answer to the question and indicate what further issues there might be to be considered.

Requirements

Sources used in your answer should be fully referenced in APA 6th style.

Assignments must be submitted through Turnitin.

Assessment item 2

Assignment 2: Essay Question

Value: 30%

Due date: 01-Jan-2018

Return date: 23-Jan-2018

Length: Approximately 2000 words

Submission method options

Alternative submission method

Task

Assignment 2 consists of one essay question (worth 30 marks) based on text material. Before attempting this assignment you are expected to have read Text chapters 1 to 10. You are encouraged to make use of additional sources. Sources used in your answer should be fully referenced in APA 6th style.

Answer the following question ensuring that you apply economic principles or theory related to the concepts of benefits, costs and market structure in which a firm operates to inform your analysis and support your decisions. Communicate your ideas with correct grammar, spelling and writing style and support your answer with diagrams and illustrative examples as necessary.

Question (30 marks)

Explain, providing appropriate examples, why car manufacturers are constantly introducing new models.

Rationale

This assignment provides an opportunity for you to present a detailed analysis of the operation of firms in a particular market context through the application of your knowledge of theory supported by evidence drawn from sources of your choosing.

The question addresses the following learning outcomes:

Learning Outcome 3: be able to make decisions that incorporate the relevant benefits and cost analysis.

Learning Outcome 4: be able to explain and defend why it is important to understand the structure of the market in which a firm operates.

Marking criteria

CriteriaHD (85%)

FL

DI (75-84%)                                           CR (65-74%)                                             PS (50-64%)

(0<50%)

Academic writingLanguage features and structures
clearly communicatesare used to convey meaning
meaning (10%effectively, clearly, concisely,
weighting).unambiguously, and in a tone
appropriate to the audience and
purpose with no spelling,
grammatical, or punctuation
errors.

Language features and structures are used to convey meaning effectively, clearly, unambiguously, and in a tone appropriate to the audience and purpose with few spelling, grammatical, or punctuation errors.

The text contains some errors in spelling, grammar, word choice, and structure, lacks clarity occasionally, and may not be concise, but the meaning is apparent to the reader with little effort.

The text contains frequent errorsFails to
in spelling, grammar, wordmeet
choice, and structure, lackscriteria
clarity, and is not concise, but thefor a
meaning is apparent to the readerpass.
with some effort.
Academic writingReferencing is comprehensive,
includes APA 6thdemonstrates academic integrity,
referencing (10%and conforms exactly to APA
weighting).style conventions.

ECO511 Economics for Business

Analyses benefits andThe answer synthesises the theory
cost components toin relation to a firm’s benefits and
provide market relatedcosts in the context of the market
recommendations instructure in which the firm
the context of theoperates with new insights
market structure ofproviding an in-depth application
the industry in aof the theory of the firm along
manner whichwith clearly labelled relevant
indicates thediagrams to produce a
importance ofcomprehensive analysis that is
understanding theused as the basis for identifying
structure of thethe correct decisions within the
market in which thecontext of specific market
firm operates (60%circumstances.
weighting).
Provision of examplesThe answer provides an example
to support, illustrateor examples which support the

Referencing is comprehensive, demonstrates academic integrity, and conforms to APA style conventions with fewer than three minor errors or omissions which don’t impact on the transparency and traceability of the source or the demonstration of academic integrity.

The answer evaluates the theory in relation to a firm’s benefits and costs in the context of the market structure in which the firm operates to analyse the question. Decisions based on analysis correctly reflect the options available given specified market conditions and are presented through a sound argument showing good judgement. However, minor errors have been found in the narrative or use of diagrams.

The answer provides an example or examples which support the

Referencing is comprehensive and mostly accurate according to APA style conventions. Up to eight minor errors or omissions in style and formatting choices (e.g. italics, punctuation, underlining) don’t impact on the transparency and traceability of the source, or the demonstration of academic integrity.

The answer correctly interprets the theory in relation to a firm’s benefits and costs in the context of the market structure in which the firm operates to analyse the question. Decisions based on analysis correctly reflect the options available within specified conditions. However, some errors have been found in the narrative or use of diagrams.

The answer provides an example or examples which support the

Referencing is comprehensiveFails to
and mostly accurate according tomeet
APA style conventions. Frequentcriteria
minor errors or omissions in stylefor a
and formatting choices (e.g.pass.
italics, punctuation, underlining)
don’t impact on the transparency
and traceability of the source, or
the demonstration of academic
integrity.
The answer identifies the mostFails to
important elements of theory inmeet
relation to a firm’s benefits andcriteria
costs in the context of the marketfor a
structure in which the firmpass.
operates to analyse the question.
Decisions based on analysis
correctly reflect the options
available within specified
conditions. Limited explanation
and poor use of diagrams
provides marginal support for the
conclusions drawn.
The answer provides an exampleFails to
or examples which exhibit themeet

Charles Sturt University Subject Outline

CriteriaHD (85%)DI (75-84%)CR (65-74%)PS (50-64%)FL
(0<50%)

or elaborate the application of the theory of the firm, the benefits they seek, the costs they incur and the market structure in which they are found in a policy context (20% weighting).

synthesis of the theory in relation to a firm’s benefits and costs in the context of the market structure in which the firm operates with new insights to support the analyse of the question and/or the decisions based on this analysis. The narrative makes a strong link between the example(s), existing theory and new insights and the application of each to policy.

evaluation of the theory in relation to a firm’s benefits and costs in the context of the market structure in which the firm operates to support the analyse of the question and/or the decisions based on this analysis. The narrative makes a strong link between the example(s) and theory and their application to policy.

interpretation of the theory in relation to a firm’s benefits and costs in the context of the market structure in which the firm operates to support the analyse of the question and/or the decisions based on this analysis. The narrative makes the link between the example(s) and theory and their application to policy with only minor lapses in logic.

benefits and costs in the context pass. of the market structure in which the firm operates to support the analysis of the question and/or the decisions based on this analysis. However the narrative does not make a convincing link between the example(s) and theory and subsequent application to policy.

Presentation

Answers should be typed and diagrams must be clear and neat and preferably drawn electronically. Hand-drawn diagrams are acceptable. Sources used in your answer should be fully referenced in APA 6th style. The answer to the question should be divided into three parts:

Part 1: Introduction

The introduction sets up your response by succinctly stating your understanding of the issues, what you think is the best way to analyse the situation – including choice of theory and sources of evidence, what type of findings you expect and what potential applications you expect there to be.

Part 2: Analysis

The analysis will represent the bulk of your work. Here you will provide your answer in detail by drawing upon the literature, the theory and the evidence to come up with an answer to the question posed. You may find that you want to break this section up into a number of sub-parts – one for a detailed discussion of the issues including your non-technical response, one for a detailed analysis of the tools of analysis you will use (theory), one for your extensive consideration of the evidence, one where you draw together your information and findings along with their implications.

Part 3: Conclusion

In the conclusion you briefly and succinctly review what you have done in answer to the question and indicate what further issues there might be to be considered.

Requirements

Sources used in your answer should be fully referenced in APA 6th style.

Assignments must be submitted through Turnitin.

Assessment item 3

Assignment 3: Problem Question

Value: 15%

Due date: 22-Jan-2018

Return date: 13-Feb-2018

Length: Approximately 1000 words.

Submission method options

Alternative submission method

Task

Assignment 3 consists of one problem question worth 15 marks. Before attempting this assignment you are expected to have read Text chapters 12, 13 and 14. You are encouraged to make use of additional sources. Sources used in your answer should be fully referenced in APA 6th style.

Answer the following question ensuring that you apply economic principles or theory related to understanding the health of the economy and the need for government intervention to inform your analysis and support your decisions. Communicate your ideas with correct grammar, spelling and writing style and support your answer with diagrams and examples as necessary.

Question (15 marks)

Charles Sturt University Subject Outline

Using an appropriate diagram, explain the concept of a stable economic equilibrium and provide your assessment of whether or not the US economy, the Australian economy and the Chinese economy are all currently at a stable equilibrium.

Rationale

This assignment will give you practice in preparing an answer to a question which is similar to the type of questions you are likely to be asked in the examination.

The question addresses the following learning outcomes:

Learning Outcome 5: be able to critically examine and demonstrate why it might be necessary for government to intervene in the production of goods and services and in the distribution of income.

Learning Outcome 6: be able to examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives.

Marking criteria

Charles Sturt University Subject Outline

ECO511 201790 S I-25 October 2017-Version 1  Page 16 of 27

CriteriaHD (85%)DI (75-84%)CR (65-74%)PS (50-64%)FL
(0<50%)

Academic writing     Language features and structures

clearly                         are used to convey meaning

communicates          effectively, clearly, concisely,

meaning (10%          unambiguously, and in a tone

weighting).                 appropriate to the audience and

purpose with no spelling, grammatical, or punctuation errors.

Language features and structures are used to convey meaning effectively, clearly, unambiguously, and in a tone appropriate to the audience and purpose with few spelling, grammatical, or punctuation errors.

The text contains some errors in spelling, grammar, word choice, and structure, lacks clarity occasionally, and may not be concise, but the meaning is apparent to the reader with little effort.

The text contains some errors inFails to
spelling, grammar, word choice,meet
and structure, lacks claritycriteria
occasionally, and may not befor a
concise, but the meaning ispass.
apparent to the reader with little
effort.

Academic writing Referencing is comprehensive, includes APA 6th demonstrates academic integrity, referencing (10% and conforms exactly to APA style

Referencing is comprehensive, demonstrates academic integrity, and conforms to APA style conventions with fewer than three minor errors or omissions which don’t impact on the transparency and traceability of the source or the demonstration of academic integrity.

Referencing is comprehensive and mostly accurate according to APA style conventions. Up to eight minor errors or omissions in style and formatting choices (e.g. italics, punctuation, underlining) don’t impact on the transparency and traceability of the source, or the demonstration of academic integrity.

Referencing is comprehensive andFails to
mostly accurate according to APAmeet
style conventions. Frequent minorcriteria
errors or omissions in style andfor a
formatting choices (e.g. italics,pass.
punctuation, underlining) don’t
impact on the transparency and
traceability of the source, or the
demonstration of academic
integrity.

Analyses the              The answer synthesises the theory

production of            in relation to the analysis of

goods and services   macroeconomic stability with new

in aggregate and       insights providing an in-depth

the requirement for  application of the theory of

macroeconomic       government macroeconomic

stability to identify   intervention along with clearly

the conditions           labelled relevant diagrams to

under which               produce a comprehensive analysis

government               that is used as the basis for

intervention in           identifying the correct government

production and         policy decisions within the context

income distribution  of specific macroeconomic

is recommended.      circumstances.

(60% weighting).

The answer evaluates the theory in relation to the analysis of macroeconomic stability and recognises that movements away from equilibrium may require government intervention. Decisions based on analysis correctly reflect the options available given specified market conditions and are presented through a sound argument showing good judgement. However, minor errors have been found in the narrative or use of diagrams.

The answer correctly interprets the theory in relation to the analysis of macroeconomic stability and recognises that movements away from equilibrium may require government intervention. Decisions with respect to government intervention based on analysis correctly reflect the options available under the conditions specified. However, some errors have been found in the narrative or use of diagrams.

The answer identifies the mostFails to
important elements of theory formeet
the analysis of macroeconomiccriteria
stability and recognises thatfor a
movements away frompass.
equilibrium may require
government intervention.
Decisions with respect to
government intervention based on
analysis correctly reflect the
options available under the
conditions specified Limited
explanation and poor use of
diagrams provides marginal
support for the conclusions drawn.
The answer provides an exampleFails to
or examples which exhibit themeet

Charles Sturt University Subject Outline

ECO511 201790 S I-25 October 2017-Version 1                                                                                                                                                                                                                      Page 17 of 27

CriteriaHD (85%)DI (75-84%)CR (65-74%)PS (50-64%)FL
(0<50%)

support, illustrate      synthesis of the theory in relation

or elaborate the        to macroeconomic stability and the

application of the     intervention of government to

economic                   impact on production and the

principles or theory distribution of income with new to macroeconomic insights to support the analyse of

conditions                  the question and/or the decisions

prevailing in               based on this analysis. The

Australia and to        narrative makes a strong link

macroeconomic       between the example(s), existing

policy decisions        theory and new insights and the

(20% weighting).       application of each to policy.

evaluation of the theory in relation to macroeconomic stability and the intervention of government to impact on production and the distribution of income and/or the decisions based on this analysis. The narrative makes a strong link between the example(s) and theory and their application to policy.

interpretation of the theory in relation to macroeconomic stability and the intervention of government to impact on production and the distribution of income to support the analysis the question and/or the decisions based on this analysis. The narrative makes the link between the example(s) and theory and their application to policy with only minor lapses in logic.

government to impact on production and the distribution of income to support the analysis of the question and/or the decisions based on this analysis. However the narrative does not make a convincing link between the example(s) and theory and subsequent application to policy.

Presentation

Answers should be typed and diagrams must be clear and neat and preferably drawn electronically. Hand-drawn diagrams are acceptable. Sources used in your answer should be fully referenced in APA 6th style. The answer to the question should be divided into three parts:

Part 1: Introduction

The introduction sets up your response by succinctly stating your understanding of the issues, what you think is the best way to analyse the situation – including choice of theory and sources of evidence, what type of findings you expect and what potential applications you expect there to be.

Part 2: Analysis

The analysis will represent the bulk of your work. Here you will provide your answer in detail by drawing upon the literature, the theory and the evidence to come up with an answer to the question posed. You may find that you want to break this section up into a number of sub-parts – one for a detailed discussion of the issues including your non-technical response, one for a detailed analysis of the tools of analysis you will use (theory), one for your extensive consideration of the evidence, one where you draw together your information and findings along with their implications.

Part 3: Conclusion

In the conclusion you briefly and succinctly review what you have done in answer to the question and indicate what further issues there might be to be considered.

Requirements

Sources used in your answer should be fully referenced in APA 6th style.

Assignments must be submitted through Turnitin.

Assessment item 4

Final Exam

Value: 45%

Date: To be advised

Duration: 2 hours

Submission method options

N/A – submission not required/applicable

Rationale

Please note that all of the learning outcomes may be examined in the final exam.

Requirements

The examination consists of four (4) problem questions. Students must complete any three (3).

CriteriaHD (85%)DI (75-84%)CR (65-74%)PS (50-64%)FL
(0<50%)

ECO511 Economics for Business

All Questions: AcademicLanguage features and structures
writing clearlyare used to convey meaning
communicates meaningeffectively, clearly, concisely,
(20% weighting).unambiguously, and in a tone
appropriate to the audience and
purpose with no spelling,
grammatical, or punctuation
errors.
Questions related toThe answer synthesises the most
Learning Outcome 1:important elements of the theory
Analyses supply andof demand and supply with new
demand components toinsights providing an in-depth
provide market relatedapplication of demand and
recommendationssupply theory along with clearly
(60%weighting).labelled relevant diagrams to
produce a comprehensive
analysis that is used as the basis
for identifying the correct
decisions within the context of
specific market circumstances.

Language features and structures are used to convey meaning effectively, clearly, unambiguously, and in a tone appropriate to the audience and purpose with few spelling, grammatical, or punctuation errors.

The answer evaluates the theory of demand and supply and uses the theory to analyse the question. Decisions based on analysis correctly reflect the options available given specified market conditions and are presented through a sound argument showing good judgement. However, minor errors have been found in the narrative or use of diagrams.

The text contains some errors in spelling, grammar, word choice, and structure, lacks clarity occasionally, and may not be concise, but the meaning is apparent to the reader with little effort.

The answer correctly interprets the theory of demand and supply to analyse the question. Decisions based on analysis correctly reflect the options available given specified market conditions. However, some errors have been found in the narrative or use of diagrams.

The text contains frequent errorsFails to
in spelling, grammar, wordmeet
choice, and structure, lackscriteria
clarity, and is not concise, but thefor a
meaning is apparent to the readerpass.
with some effort.
The answer identifies the mostFails to
important elements of the theorymeet
of demand and supply to analysecriteria
the question. Decisions based onfor a
analysis correctly reflect thepass.
options available given specified
market conditions. Limited
explanation and poor use of
diagrams provides marginal
support for the conclusions
drawn.

 

Questions related toThe answer synthesises the
Learning Outcome 2:theory in relation to
Correctly utilises tradespecialisation and exchange with
theory to identify andnew insights providing an
critically evaluate ifin-depth application of trade
opportunities exist fortheory along with clearly
specialisation andlabelled relevant diagrams to
exchange (60%produce a comprehensive
weighting).analysis that is used as the basis
for identifying the correct
decisions relating to
specialisation and exchange
within the context of specific
market circumstances.

The answer evaluates the theory in relation to specialisation and exchange and uses the elements to analyse the question.

Decisions based on analysis correctly reflect the options available with respect to specialisation and exchange given specified market conditions and are presented through a sound argument showing good judgement. However, minor errors have been found in the narrative or use of diagrams.

The answer correctly interprets the theory in relation to specialisation and exchange to analyse the question. Decisions based on analysis correctly reflect the options available with respect to specialisation and exchange given specified market conditions. However, some errors have been found in the narrative or use of diagrams.

The answer identifies the mostFails to
important elements of trademeet
theory in relation to specialisationcriteria
and exchange to analyse thefor a
question. Decisions based onpass.
analysis correctly reflect the
options available with respect to
specialisation and exchange given
specified market conditions.
Limited explanation and poor use
of diagrams provides marginal
support for the conclusions
drawn.

ECO511 Economics for Business

CriteriaHD (85%)DI (75-84%)CR (65-74%)PS (50-64%)FL
(0<50%)

Questions relating to Learning Outcomes 3 and 4: Analyses benefits and cost components to provide market related recommendations in the context of the market structure of the industry in a manner which indicates the importance of understanding the structure of the market in which the firm operates (60% weighting).

Questions relating to Learning Outcomes 5 and 6: Analyses the production of goods and services in aggregate and the requirement for macroeconomic stability to identify the conditions under which government intervention in production and income distribution is recommended. (60% weighting).

All Questions: Provision of examples to support, illustrate or elaborate the application of the economic principles or theory and/or to policy decisions (20% weighting).

The answer synthesises the theory in relation to a firm’s benefits and costs in the context of the market structure in which the firm operates with new insights providing an in-depth application of the theory of the firm along with clearly labelled relevant diagrams to produce a comprehensive analysis that is used as the basis for identifying the correct decisions within the context of specific market circumstances.

The answer synthesises the theory in relation to the analysis of macroeconomic stability with new insights providing an in-depth application of the theory of government macroeconomic intervention along with clearly labelled relevant diagrams to produce a comprehensive analysis that is used as the basis for identifying the correct government policy decisions within the context of specific macroeconomic circumstances.

The answer provides an example or examples which support the synthesis of the theory with new insights to support the analyse of the question and/or the decisions based on this analysis. The narrative makes a strong link

The answer evaluates the theory in relation to a firm’s benefits and costs in the context of the market structure in which the firm operates to analyse the question. Decisions based on analysis correctly reflect the options available given specified market conditions and are presented through a sound argument showing good judgement. However, minor errors have been found in the narrative or use of diagrams.

The answer evaluates the theory in relation to the analysis of macroeconomic stability and recognises that movements away from equilibrium may require government intervention. Decisions based on analysis correctly reflect the options available given specified market conditions and are presented through a sound argument showing good judgement. However, minor errors have been found in the narrative or use of diagrams.

The answer provides an example or examples which support the evaluation of the theory and/or the decisions based on this analysis. The narrative makes a strong link between the example(s) and theory and their application to policy.

The answer correctly interprets the theory in relation to a firm’s benefits and costs in the context of the market structure in which the firm operates to analyse the question. Decisions based on analysis correctly reflect the options available within specified conditions. However, some errors have been found in the narrative or use of diagrams.

The answer correctly interprets the theory in relation to the analysis of macroeconomic stability and recognises that movements away from equilibrium may require government intervention. Decisions with respect to government intervention based on analysis correctly reflect the options available under the conditions specified. However, some errors have been found in the narrative or use of diagrams.

The answer provides an example or examples which support the interpretation of the theory and/or the decisions based on this analysis. The narrative makes the link between the example(s) and

operates to analyse the question. Decisions based on analysis correctly reflect the options available within specified conditions. Limited explanation and poor use of diagrams provides marginal support for the conclusions drawn.

equilibrium may require government intervention. Decisions with respect to government intervention based on analysis correctly reflect the options available under the conditions specified Limited explanation and poor use of diagrams provides marginal support for the conclusions drawn.foubrary/integrity/referencing-at-csu) to use for your assessments.

Plagiarism

CSU treats plagiarism seriously. We may use Turnitin to check your submitted work for plagiarism.

You can use Turnitin to check for plagiarism

(http://freeassignmenthelp.com/library/integrity/referencing-at-csu/checking) in your assessments before

submission.

How to apply for special consideration

Academic regulations provide for special consideration to be given if you suffer misadventure or extenuating circumstances during the session (including the examination period) which prevents you from meeting acceptable standards or deadlines. Find the form on the Student Portal Special Consideration, Misadventure, Advice and Appeals (http://freeassignmenthelp.com/study/academic-advice) page.

Extensions

In order to ensure that other students who hand their assignments in on time are not disadvantaged, and to enable me to comply with the requirement to return assignments to the class within 15 working days, the following rules about extensions will be strictly enforced:

  1. Extensions cannot be granted for on-line tests, as these have to be done within a specific time frame, after which the answers are released to the class automatically.
  1. Computer problems (such as the speed of your computer and the turnitin issues) and normal work-related pressures and family commitments do not constitute sufficient reasons for the granting of extensions.
  1. If it becomes obvious that you are not going to be able to submit an assignment on time because of an unavoidable problem, you must submit your request for an extension to the Subject Coordinator in writing (email is acceptable) prior to the due date.

Requests for extensions will not be granted on or after the due date so you must make sure that any extension is requested prior to the day on which the assignment is due.

You are expected to do all you can to meet assignment deadlines. Work and family- related pressures do not normally constitute sufficient reasons for the granting of extensions or incomplete grades.

  1. If you apply for an extension, you may be asked to email your lecturer on what you have done so far on the assignment.
  2. You must be able to provide documentary evidence (such as a certificate from a doctor or counsellor) justifying the need for an extension as soon as practicable – but please note that if the circumstances giving rise to the request for an extension arise on a day when you cannot get documentary evidence, you must still apply for the extension before the due date and submit the documentary evidence afterwards.
  1. Given the tight deadlines involved in returning assignments to students and putting feedback on Interact, the maximum extension granted generally will be seven (7) days from the due date.
  1. Assignments received more than 10 days after the due date or extension date will not be marked unless the staff member decides otherwise. Items received late will be penalised at 10% of the mark available for the assessment item per day it is late (see below).
  1. Note that for purposes of measuring lateness, the ‘day’ begins just after 00.00 hrs AEST – so an assignment received after midnight of the due date will be penalised 10% for lateness. This rule will be applied to all students uniformly.

Penalties for Late Submission

The penalty for late submission of an assessment task (without obtaining the Subject Coordinator’s approval for an extension) will be:

10% deduction per day, including weekends, of the maximum marks allocated for the assessment task, i.e. 1 day late 10% deduction, or 2 days late 20% deduction.

An example of the calculation would be:

Maximum marks allocated = 20

Penalty for one day late = 2 marks (so, a score of 18/20 becomes 16/20 and a score of 12/20 becomes 10/20).

If an assignment is due on a Friday but is not submitted until the following Tuesday, then the penalty will be four days (40% deduction or 8 marks in the example above).

Submissions more than 10 days late will be acknowledged as received but will not be marked.

Resubmission

Under normal circumstances resubmission of assessment items will not be accepted for any of the assessments required in this subject.

Online Submission

Assignments must be submitted through Turnitin.

Unless advised otherwise, all Turnitin submissions are due by midnight (AEST) of the date specified. Please note that the time and the date of your Turnitin submission will be used to determine your official submission time.

You will be added to Turnitin once the class is set up, by end of week 2. If you need assistance on Turnitin, there is an instruction sheet available at reception area.

Additional Submission Information :

It is recommended that your name, student ID and page number are included in the header or footer of every page of any assignment. You are also required to rename your assignment file before you

submit via Turnitin as per below protocol:

SUBJECT CODE, SI, SURNAME, STUDENT ID, ASSESSMENT NUMBER, SESSION. Example – ACC512 SI

Postal Submission

Under normal circumstances postal submissions will not be accepted for any of the assessments required.

Hand Delivered Submission

Under normal circumstances hand delivered submissions will not be accepted for any of the assessments required.

Feedback

Feedback will be provided on all assignments submitted. If you require further clarification of comments made please contact me (preferably by email).

Assignment Return

You should normally expect your marked assignment to be returned to you within 15 working days of the due date, if your assignment was submitted on time. If you submitted your assignment on time but not received it back by the return date, you should make enquiries in the first instance to the subject lecturer.

Student Feedback and Learning Analytics

Evaluation of Subjects

CSU values constructive feedback and relies on high response rates to Subject Experience Surveys (SES) to enhance teaching. Responses are fed back anonymously to Subject Coordinators and Heads of Schools to form the basis for subject enhancement and recognition of excellence in teaching. Schools report on their evaluation data; highlighting good practice and documenting how problems have been addressed. You can view a summary of survey results via the Student Portal SES Results (https://freeassignmenthelp.com/study/subject-experience-survey-results) page.

We strongly encourage you to complete your online Subject Experience Surveys. You will be provided with links to your surveys via email when they open three [3] weeks before the end of session.

Changes and actions based on previous student feedback

The number of Topic questions has been expanded.

Learning analytics in this subject

Learning Analytics refers to the collection and analysis of student data for the purpose of improving learning and teaching. It enables the University to personalise the support we provide our students. All Learning Analytics activities will take place in accordance with the CSU Learning Analytics Code of Practice. For more information, please visit CSU’s Learning Analytics (freeassignmenthelp.com/division/student-learning/home/analytics-and-evaluations/learning-analytics) website.

Data about your activity in the Interact2 site and other learning technologies for this subject will be recorded and can be reviewed by teaching staff to inform their communication, support and teaching practices.

Services and Support

Your Student Portal (http://freeassignmenthelp.com) tells you how you can seek services and support. These include study, admin, residential, library, careers, financial, and personal support.

Charles Sturt University Subject Outline

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Library Services

CSU Library (https://freeassignmenthelp.com provides access to the eBooks, journal articles, books, and multimedia resources needed for your studies and assessments. Get the most out of these resources by contacting Library staff either online or in person, or make use of the many Library Resource Guides, videos and online workshops available.

CSU Policies and Regulations

This subject outline should be read in conjunction with all academic policies and regulations, e.g. Student Academic Misconduct Policy, Assessment Policy – Coursework Subjects, Assessment Principles Policy, Special Consideration Policy, Academic Progress Policy, Academic Communication with Students Policy, Student Charter, etc.

Please refer to the collated list of policies and regulations relevant to studying your subject(s) (http://freeassignmenthelp.com/administration/policies-regulations-subjects) which includes links to the CSU Policy Library freeassignmenthelp.com – the sole authoritative source of official academic and administrative policies, procedures, guidelines, rules and regulations of the University.

Subject Outline as a Reference Document

This Subject Outline is an accurate and historical record of the curriculum and scope of your subject. CSU’s Subject Outlines Policy (https:/freeassignmenthelp.com/view.current.php?id=00267) requires that you retain a copy of the Subject Outline for future use such as for accreditation purposes.

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