HI5003 Economics for Business Assessment Details and Submission Guidelines Trimester T1 2019 Unit Code HI5003 Unit Title Economics for Business Assessment Type Written report Assessment Title Group...

HI5003 Economics for Business
Assessment Details and Submission Guidelines

Trimester T1 2019
Unit Code HI5003
Unit Title Economics for Business
Assessment Type Written report
Assessment Title Group assignment
Purpose of the
assessment (with
ULO Mapping)
Students are required to work in groups to choose an industry then apply their
knowledge in the unit to write an industry report (Learning Outcomes 1, 2, 3, 5).
See Assignment Specifications for detailed requirements
Weight 30% of the total assessments
Total Marks 30
Word limit Not more than 2500 words
Due Date XXXXXXXXXX5pm Friday of Week 10 for Normal Mode, of Week 6&10 for Block Mode 1&2,
espectively.
Submission
Guidelines
 All work must be submitted on Blackboard by the due date along with a
completed Assignment Cover Page.
 The assignment must be in MS Word format, single spacing, 12-pt Arial font
and 2 cm margins on all four sides of the page with appropriate section
headings and page numbers.
 Reference sources must be cited in the text of the report, and listed
appropriately at the end in a reference list using Harvard referencing style.






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HI5003 Economics for Business


Assignment Specifications
Purpose:
This assignment aims to enhance students’ research and analytical ability through the application of
their economic knowledge in the unit to compose a company report.

The recommended assignment structure is as follows:

Table of content
Executive Summary (Optional)
Introduction
Introduction to the company
Industry background
The market structure of the industry
Factors that influence demand for the company’s product(s)
Factors that influence supply of the company’s product(s)
Elasticity
Impacts of an event on the industry/company
Conclusion
List of References.
Detailed requirements of the assignment
Organize yourselves into groups of 4 or 5 students and give your group details to your lecturer(s) no
later than Week 6 (for Normal Mode) or Week 4 (For Block Mode 1) and Week 8 (for Block Mode 2).
Late submission of group member list may result in your being unable to submit the group
assignment.
You are a group of advisors to the Management Board in your company.
In determining the company’s strategy in the next 5 years, your managers have required you to
prepare a 2,500 word market report. The market report should, as a minimum, address the following
key issues:
1. A description of your company and the industry your company is in, including:
 An overview of the company.
 An overview of the industry (including some key statistics such as revenue,
employment, the industry’s contribution to national GDP, and industry growth rate).
2. An analysis of the market structure the industry is in, including:
 The type of market structure it is in and why (based on the characteristics of the
industry).
 The market leaders in the industry and some statistics about them.
3. A discussion about (i) two determinants of demand, and (ii) two determinants of supply for
your product(s) or service(s) that you consider to be the most influential.
4. A discussion about the demand elasticity for your product(s) or service(s) which answers the
following questions:
 Is your product(s) or service(s) elastic or inelastic? Why?
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HI5003 Economics for Business
 What are two factors that you consider affect the elasticity of demand for your
product (or line of products) the most? Why so? (You can research for evidence to
justify your argument(s)).
5. An analysis of a recent event that has (or is likely to have) substantial impacts on your
industry. The analysis may include:
 A
ief description about that event.
 How has that event affected (or is likely to affect) the market demand and/or supply?
 What is the likely effect of that event on the market price and quantity?
Note that relevant empirical evidence can be researched and provided to support your
arguments.
You may choose to do your research in one of the following industries: construction/housing/
property development, education, or mining.
Note: if your company has many products and/or services, you can select a representative
product/service to discuss for points (2); (3); (4); and (5).
This report should provide useful information for your company’s Management Board. It should use
a variety of resources, including the textbook, newspapers, industry reports, the ABS website, and
other sources. A list of several websites that may be useful to you is attached.
Your report should include a table of contents, an executive summary, and sub-headings. It needs to
e properly referenced using the Harvard style and at least 5 references. 

HI5003 Economics for Business
Marking Ru
ic
Criteria Excellent (>=80%) Very good (70-79%) Good (60-69%) Satisfactory (50-59%) Unsatisfactory (<50%)
The degree of
understanding
and knowledge
about the
company and the
industry which is
shown in the
description of
the company &
industry, and the
analysis of
market structure
(25 % of the
total mark)
- Excellent understanding
about the company/industry
with comprehensive and
updated data.
- Co
ect identification of the
market structure, supported
y extensive evidence about
the approximate number of
firms in the market, market
share, market leaders, product
homogeneity/heterogeneity,
ect.

- Very good understanding
about the company/
industry with some
updated data.
- Co
ect identification of
the market structure,
supported by good
evidence about the
approximate number of
firms in the market,
market share, market
leaders, product
homogeneity/heterogenei
ty, ect.

- Good understanding about
the company/industry with
few updated data.
- Co
ect identification of the
market structure, supported
y some evidence about the
approximate number of firms
in the market, market share,
market leaders, product
homogeneity/heterogeneity,
ect.

- Reasonable
understanding about
the company/industry
with a limited amount
of information about
the company/industry.
- Address the question
about market structure
ut mis-identify the
structure or co
ectly
identify the market
structure but do not
provide good evidence
to support.

Poor understanding
about the industry and
completely wrong
identification of the
market structure with
poor evidence to
support.
The degree of
analysis of
demand and
supply
determinants;
and the
discussion about
price elasticity of
demand
(25% of the total
mark)
- Excellent analysis about
demand and supply
determinant, supported by
excellent data or studies.
- Conclusion about elasticity is
strongly supported with
excellent
discussions/argument Or refer
to studies in the literature to
support the conclusion
- Very good analysis about
demand and supply
determinant, supported by
very good data or studies.
- Conclusion about
elasticity is supported with
good
discussions/argument Or
efer to studies in the
literature to support the
conclusion
- Good analysis about
demand and supply
determinant, supported by
good data or studies.
- Conclusion about elasticity is
supported with limited
discussions/argument.
- Reasonable analysis
about demand and
supply determinant,
supported by limited
data or studies.
- Conclusion about
elasticity is not
supported with
discussions/argument.
-Poor analysis about
demand and supply
determinant, with no
supported discussion.
-Conclusion about
elasticity is not
supported with
discussions/argument.
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HI5003 Economics for Business
Criteria Excellent (>=80%) Very good (70-79%) Good (60-69%) Satisfactory (50-59%) Unsatisfactory (<50%)
The analysis of a
ecent event that
has some
substantial
impacts on the
industry
(25% of the total
mark)
-Excellent description of the
event
-Excellent discussion about the
likely impact of the event on
the market, supported by
good evidence (statistics,
studies or articles that discuss
the actual or likely impacts).
-Very good description of
the event
-Very good discussion
about the likely impact of
the event on the market,
supported by some good
evidence (statistics,
studies or articles that
discuss the actual or likely
impacts).
-Good description of the
event
-Good discussion about the
likely impact of the event on
the market, supported by
limited evidence (statistics,
studies or articles that discuss
the actual or likely impacts)
-Reasonable
description of the
event
-Reasonable discussion
about the likely impact
of the event on the
market, not supported
y good evidence
-Poor description the
event
-Poor discussion about
the likely impact of the
event on the market,
not supported by any
evidence
The degree of
esearch, the
format,
structure,
presentation,
and writing of
the report
(25 % of the
total mark)

- Evidence of comprehensive
and relevant research with
co
ect referencing.
- Meet format requirements to
a high standard, including
clear structure, headings,
word count (close to
approximation) and excellent
presentation.
-Evidence of very good and
elevant research with
co
ect referencing.
-Meet format
equirements to a very
good standard, including
clear structure, headings,
word count (close to
approximation) and very
good presentation.
-Evidence of good and
elevant research with co
ect
eferencing.
-Meet format requirements
to a good standard, including
clear structure, headings,
word count (close to
approximation) and good
presentation.
-Evidence of
easonable research
with some mistakes in
eferencing.
-Meet format
equirements to a
easonable standard,
ut could be improved
with a clearer
structure, headings, or
may have better met
word count
approximation) and
fair presentation.
-No good and relevant
esearch with many
mistakes in
eferencing.
-May not have
followed key question
selection guidance, or