Microsoft Word - ECON6000-Assignment2Module5-v.3.0.docx
Module 5 - Assessment 2: Short written assessment
Page 1 of 6
ASSESSMENT BRIEF
Subject Code and Title ECON6000 Economic Principles and Decision Making
Assessment Module 5 - Assessment 2: Short written assessment
Individual/Group Individual
Length NA
Learning Outcomes 1. Interpret and successfully apply economic concepts of
supply and demand for effective organisational problem
solving.
2. Apply quantitative methods to forecast complex business
variables including demand, supply, production and costs.
3. Critically analyse production processes and cost functions
and classify the main forms of market structures as well as
ecommend appropriate pricing and strategies.
4. Critically evaluate the role and impact of various forms of
government intervention in the economy including the
implications of competition and deregulation policy for
managerial practices.
Submission By 11:59 PM AEST/AEDT Friday at the end of Module 5
Weighting 20% in total of 5 Modular written assessments
Total Marks 20 marks
Context:
The short written module assessment allows you to apply your knowledge on the concepts
and ideas discussed during the Module. This assessment will prepare you for the final
eport.
Module 5 - Assessment 2: Short written assessment
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Instructions:
Provide written answers to the following 2 problems. Discuss and explain sufficiently.
Problem A:
The Board of Schmeckt Gut was interested in the demand for our energy bars in Atollia. Therefore,
the Board instructed the Research Department of Schmeckt Gut to conduct a survey in Atollia. The
esults of the survey are provided in Table 1.
Table 1 – Survey results for Atollia
Annual average
demand of energy
ars per person
Average income per
person
Tariff rate on imports
of energy bars
Number of stores
where energy bars are
offered
106 15500 5 15
90 15810 5 15
93 16395 5 15
92 16887 5 15
91 17495 5 15
110 18282 5 16
109 19013 5 16
122 19508 5 16
82 19898 10 16
84 20276 10 16
102 20702 10 17
92 21550 10 17
115 22197 10 20
112 22330 10 20
109 22754 10 20
148 23619 7.5 20
143 23855 7.5 20
139 24452 7.5 20
158 24941 7.5 23
142 25514 7.5 23
158 25948 7.5 23
1. Using the results of the survey provided by the Research Department, see Table 1, the Board
would like you to investigate the demand for our energy bars in Atollia in more detail. More
specifically the Board is interested what the impact of offering our products at another store
might have on the demand.
Hint A: You should make use of Microsoft Excel tools discussed in the Module End
Learning Activities of Modules 1 to 3.
Hint B: You should run a linear regression analysis to investigate the potential impact
of offering our product at another store.
Module 5 - Assessment 2: Short written assessment
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Problem B:
The members of the Board of Schmeckt Gut are scheduled to meet with the Trade Minister of
Industria. The Board is interested in convincing the Government of Industria to establish closer
economic links with Atollia.
1. Based on the regression results that you have estimated as part of Problem A, what can we
tell the Trade Minister about the impact of the tariff?
2. Use an applicable diagram discussed in Module 4 to explain the impact of the tariff on our
energy bars.
Problem C:
The Board of Schmeckt Gut wants to convince the Government of Industria that a Free Trade
Agreement with Atollia would be beneficial for Industria’s economy.
1. Develop a
ief for the Board on the benefits of Free Trade for both countries and industria
in particular. Incorporate the results of your regression analysis and use theory and graphical
support.
Module 5 - Assessment 2: Short written assessment Page 4 of 6
Learning Ru
ics
Assessment
Attributes
Fail
0-49
(Unacceptable)
Pass
50- 65
(Functional)
Credit
66-75
(Proficient)
Distinction
76-85
(Advanced)
High Distinction
86-100
(Exceptional)
Grade Description
(Grading Scheme)
Evidence of unsatisfactory
achievement of one or more
of the learning objectives of
the course, insufficient
understanding of the course
content and/or unsatisfactory
level of skill development.
Evidence of satisfactory
achievement of course learning
objectives, the development of
elevant skills to a competent
level, and adequate
interpretation and critical
analysis skills.
Evidence of a good level of
understanding, knowledge
and skill development in
elation to the content of the
course or work of a superior
quality on the majority of the
learning objectives of the
course. Demonstration of a
high level of interpretation
and critical analysis skills.
Evidence of a high level of
achievement of the
learning objectives of the
course demonstrated in
such areas as
interpretation and critical
analysis, logical
argument, use of
methodology and
communication skills.
Evidence of an
exceptional level of
achievement of learning
objectives across the
entire content of the
course demonstrated in
such areas as
interpretation and
critical analysis, logical
argument, creativity,
originality, use of
methodology and
communication skills.
Knowledge and
Understanding of
economic concepts
of supply and
demand
25%
Limited understanding of
equired concepts and
knowledge
Key components of the
assignment are not
addressed.
Knowledge or understanding of
the field or discipline.
Resembles a recall or summary
of key ideas.
Often conflates/confuses
assertion of personal opinion
with information substantiated
y evidence from the
esearch/course materials.
Thorough knowledge or
understanding of the field or
discipline/s. Supports
personal opinion and
information substantiated by
evidence from the
esearch/course materials.
Demonstrates a capacity to
explain and apply relevant
concepts.
Highly developed
understanding of the field
or discipline/s.
Discriminates between
assertion of personal
opinion and information
substantiated by robust
evidence from the
esearch/course
materials and extended
eading.
Well demonstrated
capacity to explain and
apply relevant concepts.
A sophisticated
understanding of the
field or discipline/s.
Systematically and
critically discriminates
etween assertion of
personal opinion and
information
substantiated by robust
evidence from the
esearch/course
materials and extended
eading.
Mastery of concepts
and application to new
Module 5 - Assessment 2: Short written assessment Page 5 of 6
situations/further
learning.
Critical reasoning,
presentation and
defence of an
argument and/or
position in context of
organisational
problem solving
25%
Specific position (perspective
or argument) fails to take into
account the complexities of
the issue(s) or scope of the
assignment.
Makes assertions that are not
justified.
Specific position (perspective or
argument) begins to take into
account the issue(s) or scope of
the assignment.
Justifies any conclusions
eached with arguments not
merely assertion.
Specific position (perspective
or argument) takes into
account the complexities of
the issue(s) or scope of the
assignment. Others’ points of
view are acknowledged.
Justifies any conclusions
eached with well-formed
arguments not merely
assertion.
Specific position
(perspective or
argument) is expertly
presented and accurately
takes into account the
complexities of the
issue(s) and scope of the
assignment.
Justifies any conclusions
eached with well-
developed arguments.
Specific position
(perspective or
argument) is presented
expertly, authoritatively
and imaginatively,
accurately taking into
account the
complexities of the
issue(s) and scope of
the assignment. Limits
of position are
acknowledged.
Justifies any conclusions
eached with
sophisticated
arguments.
Analysis and
application with
synthesis of new
knowledge related
to economic
concepts of supply
and demand
30%
Limited synthesis and
analysis.
Limited
application
ecommendations
ased upon analysis.
Demonstrated analysis and
synthesis of new knowledge
with application.
Shows the ability to interpret
elevant information and
literature.
Well-developed analysis and
synthesis with application of
ecommendations linked to
analysis/synthesis.
Thoroughly developed
and creative analysis and
synthesis with application
of pretested models and /
or independently
developed models and
justified
ecommendations linked
to analysis/synthesis
Highly sophisticated
and creative analysis,
synthesis of new with
existing knowledge.
Strong application by
way of pretested
models and / or
independently
developed models.
Recommendations are
clearly justified based
on the
analysis/synthesis.
Module 5 - Assessment 2: Short written assessment Page 6 of 6
Applying knowledge to
new situations/other
cases.
Content, Audience
and Purpose
20 %
Demonstrates no awareness
of context and/or purpose of
the assignment.
Demonstrates limited
awareness of context and/or
purpose of the assignment
Demonstrates consistent
awareness of context and/or
purpose of the assignment.
Demonstrates an
advanced and integrated
understanding of context
and/or purpose of the
assignment.
Consistently
demonstrates a
systematic and critical
understanding of
context and purpose of
the assignment.