Assignment front sheet

Qualification
Unit number and Title
Pearson BTEC Level 5 HND Diploma in Business
Unit 55: Business Economics
Student Name
Assessor
Internal Verifier
Patrice Kabeya
Zafar Iqbal
Date Issued
Formative/Draft Submission
Summative/Final Submission
(At least task 1 or outline of the entire
Report (Task 1 &2) and
report)
Presentation Slides
th

th

th

Week 1: 26 January 2015 30

January 2015
Learning
Outcome

Learning
Outcome

LO1

Understand
microeconomic
theory relating to
markets

Asse
ssm
ent
Crite
ria
1.1
1.2

1.3
1.4
1.5
LO2

Understand the
impact of market
power on an
economy

2.1
2.2
2.3
2.4

LO3

Understand the
role of
government in the
macroeconomic
environment

3.1

3.2
3.3

3.4
LO4

Be able to apply
economic theories
to the
globalisation of
trade

th

th

Week 4:16 February 2015 - 20 February

2015

4.1

4.2

4.3
4.4

5 May 2015

In this assignment you will have the

opportunity to present evidence that shows
you are able to:

Task No

explain the economic problem of scarcity and

resource allocation
explain how equilibrium in a market is
achieved

evaluate the importance of differing market

systems
evaluate the role of opportunity costs in
determining how economies make decisions
assess the importance of elasticity in market
interactions
explain the implications of pricing and
objectives on a business firms operations
compare how prices are set in different market
structures
analyse how a firms behaviour is affected by:
their market structure operations
evaluate the impact of regulation on market
power in given situations
analyse how the structure of an economy has
changed in the 21st Century giving the
arguments for this change
evaluate the tools available to meet
macroeconomic policy challenges
evaluate the success of a governments
policies
in
achieving
macroeconomic
objectives
evaluate the economic performance of an
economy in the global market
demonstrate the theory of comparative
advantage using relevant illustrations from
emerging economies
justify the advantages and disadvantages of
free trade for development using appropriate
case studies
analyse the impact of emerging economies on
the developed economies
evaluate the impact of recent domestic and
global economic shocks to the economy

1
1
2
2
2
2
3

3
3

3
4

4
4

Learner declaration
I certify that the work submitted for this assignment is my own and research sources are fully acknowledged.
Student signature:

Date:

Evidence
(Page no)

In addition to the above Pass Criteria, this assignment gives you opportunity to submit evidence in order to achieve the following MERIT and
DISTINCTION grades
Grade Descriptor
Indicative characteristic/s
Contextualisation
M1 Identify and apply strategies to Effective judgements have been made
To achieve M1: You will provide evidence of making effective judgements
find appropriate solutions
throughout the report. Making effective judgement require making a case by
providing a body of evidence to support your ideas and points of view. In
order to present a balanced argument, consider opinions which may run
contrary to your own.
M2 Select/design and apply A range of sources of information has
appropriate methods/techniques
been used

To achieve M2: You will use range of sources of information in your report to
the impact of market power on an economy. You will also acknowledge all
resources using correct Harvard Referencing System.

M3 Present and communicate A range of methods of presentation To achieve M3: You will explain and use technical language accurately in the
appropriate findings
have been used and technical language context and check the work for spelling errors in your presentation slides.
has been accurately used
You will also submit assignment on time.
D1 Use critical reflection to Conclusions have been arrived at To achieve D1: You will provide conclusion of the report that is derived
evaluate own work and justify through synthesis of ides and have directly from your analysis. You should justify the conclusion you have
valid conclusion
been justified
reached. Provide recommendation for further improvements.
D2
Take
responsibility
for Activities have been managed
To achieve D2: You will manage the activities i.e. you will meet the deadline
managing
and
organising
to submit the report and attend the classes regularly.
activities
D3
Demonstrate Convergent and lateral thinking have To achieve D3: You will apply convergent and lateral thinking throughout the
convergent/lateral/creative
been applied
report. Using existing theories and concepts to answer the questions could
thinking
provide evidence of convergent thinking. However, you are also expected to
provide evidence of lateral thinking by putting aside your preconceptions and
use your imagination to generate original ideas in assessing the significance
of the global factors that shape national business activities.

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Assignment Briefs
Assignment Title

Understanding the behaviour of domestic firms, transnational

organisations and governments through substantive micro and
macro-economic theory and policies and apply these to current and
past events that have had a significant economic impact on the world

Scenario
The Institute for Fiscal Studies (IFS) is an economic research institute based in London, United
Kingdom, which specialises in UK taxation and public policy. It is politically independent and
produces both academic and policy-related findings. As a fresh graduate you have recently joined
with the Institute as a research assistant. The manager in your department has assigned you some
crucial economic issues to do research on. The study should include issues mentioned below under
task 01, 02, 03 and 04. Compile your findings in a report.
Use appropriate report format with an introduction at the beginning, main body with headings
and sub-headings and conclusion at the end. A cover page, table of contents page,
references list and bibliography would be at highest standard. The report might be written in
3500 4000 words
Task 1: Understanding microeconomic theory relating to markets (LO 1: 1.1, 1.2, 1.3, 1.4, 1.5
and M1 & D1)
In this first section of the report, you are required to demonstrate your understanding of
microeconomic theory relating to markets. Make sure, this part of the report cover the following:
1.1 explain the economic problem of scarcity and resource allocation (AC 1.1).
1.2 explain how equilibrium in a market is achieved (AC 1.2).
1.3 evaluate the importance of differing market systems (AC 1.3).
1.4 evaluate the role of opportunity costs in determining how economies make decisions (AC 1.4)
1.5 assess the importance of elasticity in market interactions (AC 1.5).

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Task 2: Understanding the impact of market power on an economy (LO 2: 2.1, 2.2, 2.3,
2.4, and M2 & D2)
Write a further section in your report explaining the role and objectives of sales management in your
organisation. The outline for the investigation is as follows:
BT Group plc trading as BT is a British multinational telecommunications services company
with head offices in London, England, United Kingdom. It has operations in around 170
countries. Its BT Global Services division supplies telecoms services to corporate and
government customers worldwide, and its BT Consumer division supplies telephony,
broadband and subscription television services in Great Britain to around 18 million
customers.
2.1 explain the implications of pricing and objectives on BTs operations (AC 2.1).
2.2 compare how prices are set in different market structures drawing examples from BTs operations
in different countries having different market structures (AC 2.2).
2.3 analyse how companies like BTs behaviour is affected by the market structure and operations
(AC 2.3).
2.4 identify some UK regulations and evaluate the impact of those regulations on BTs market power
(AC 2.4).

Task 3: Understanding the role of government in the macroeconomic environment

(LO 3: 3.1, 3.2, 3.3, 3.4 and M2 & D2)
3.1 analyse how the structure of UK economy has changed in the 21st Century giving the arguments
for the following factors of change: privatisation, move from an industrial to service sector to
technology-based economy (AC 3.1, D3).
3.2 evaluate the tools available to meet macroeconomic policy challenges (AC 3.2).
3.3 evaluate the success of UK governments policies in achieving macroeconomic objectives (AC
3.3).
3.4 evaluate the economic performance of the UK economy in the global market (AC 3.4, D2)

Task 4: Being able to apply economic theories to the globalisation of trade (LO 4: 4.1,
4.2, 4.3, 4.4, and M2 & D2)
4.1 demonstrate the theory of comparative advantage using relevant illustrations from emerging
economies such as BRIC or MIST (AC 4.1).
4.2 justify the advantages and disadvantages of free trade for development using example from EU
(AC 4.2).
4.3 analyse the impact of emerging economies on the developed economies (AC 4.3, M3)
4.4 evaluate the impact of recent domestic and global economic shocks to the UK economy (AC 4.4)

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The following Merit and Distinction criteria to be applied overall, throughout the
report.
To achieve M1: You will provide evidence of making effective judgements throughout the report.
Making effective judgement require making a case by providing a body of evidence to support your
ideas and points of view. In order to present a balanced argument, consider opinions which may run
contrary to your own.
To achieve M2: You will use range of sources of information in your report to the impact of market
power on an economy. You will also acknowledge all resources using correct Harvard Referencing
System.
To achieve M3: You will explain and use technical language accurately in the context and check the
work for spelling errors in your presentation slides. You will also submit assignment on time.
To achieve D1: You will provide conclusion of the report that is derived directly from your analysis.
You should justify the conclusion you have reached. Provide recommendation for further
improvements.
To achieve D2: You will manage the activities i.e. you will meet the deadline to submit the report and
attend the classes regularly.
To achieve D3: You will apply convergent and lateral thinking throughout the report. Using existing
theories and concepts to answer the questions could provide evidence of convergent thinking.
However, you are also expected to provide evidence of lateral thinking by putting aside your
preconceptions and use your imagination to generate original ideas in assessing the significance of
the global factors that shape national business activities.
Assignment Writing and Submission - Guidelines

This unit has 4 TASKS. Please read ALL TASKS carefully.

Please submit DRAFT/FORMATIVE assignment (at least task 1 or outline of the entire report)
to class teacher by the deadline.

Please submit SUMMATIVE/FINAL assignment ON TIME in Moodle by 4 pm on the deadline

date.

Only ON TIME and EEC submission will be considered for a MERIT and DISTINCTION
grade.

Late submission and re-submission will be capped to a PASS grade.

The attendance percentage and participation in class lessons and tutorials will contribute
towards the achievement of Distinction grade.

All assignments will be subject to PLAGIARISM checks.

PLAGIARISM is a serious

academic offence and will automatically lead to ACADEMIC MISCONDUCT PROCEDURES.

In the event of COLLUSION (similar/identical submissions) please note that both students will
automatically be subject to ACADEMIC MISCONDUCT PROCEDURES.

Work should be comprehensively cited and referenced using academic sources of information
and the accurate Harvard Referencing style must be followed (Guide is available on the
college Moodle).

Sources should be included variety of academic sources such as: textbooks, websites,
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journals etc.

All work must be word processed except otherwise specific instructions has been given such
as using power points in presentation.

When iPADS/TABLETS/MACS are used please make sure documents are saved as .doc.
Otherwise the submission will not be valid and may not be marked.

Font style should be either Times New Roman or Arial.

Font size 12 should be used for the main body and Font size 14 for Titles and Subtitles.

1.5 line spacing is recommended.

Pages should be numbered at the bottom.

All paragraphs should be aligned to the justified mode.

Finally, make sure you spell check and proof read your entire work before final submission.

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