Academic Session 2017

First Semester

April 2017
MPU3223/03 Decision Making Skills
TMA 1 Marking scheme
Question 1:
(a) Explain sunk costs in decision making.
(b) Why do people focus on sunk costs while making decisions?
(c) Based on your experience, provide one (1) example where you focused on sunk costs.
(d) How can you avoid from focusing on sunk cost when you encounter it the next time?
(40 marks)

Excellent

- Able to clearly explain the meaning of sunk costs in

decision making. All the points are well supported with
relevant sources and examples. 10 marks
- Able to clearly explain the reasons people choose to
focus on sunk costs while making decisions. 10 marks
- Able to provide one (1) clear and relevant example of
his/her own experience on focusing on sunk costs.
Example is elaborated and organised. 15 marks
30-40
- Able to clearly explain what he/she should do the next
time to avoid focusing on sunk costs. Answer is linked
to the example given and shows good understanding of
why sunk costs should not be the main focus while
making a decision. 5 marks

- Answers are well-organised, minimum to zero

language errors, clear and identifiable main
points; use their own words and sentences in the
answers.
Good
- Able to explain the meaning of sunk costs in decision 25-29
making. All the points are well supported with relevant
 sources and examples.
- Able to explain the reasons people choose to focus on
sunk costs while making decisions.
- Able to provide one (1) relevant example of his/her own
experience on focusing on sunk costs. Example is
elaborated and organised.
- Able to explain what he/she should do the next time to
avoid focusing on sunk costs. Answer is linked to the
example given and shows understanding of why sunk
costs should not be the main focus while making a
decision.
- Answers are wellorganised, minor language errors, clear
and identifiable main points; use their own words and
sentences in the answers.
Acceptable

- Able to briefly explain the meaning of sunk costs in

decision making. All the points are well supported with
relevant sources and examples.
- Able to briefly explain the reasons people choose to
focus on sunk costs while making decisions.
- Able to provide one (1) brief example of his/her own
experience on focusing on sunk costs. 20-24
- Able to briefly explain what he/she should do the next
time to avoid focusing on sunk costs. Answer is briefly
linked to the example given and shows some
understanding of why sunk costs should not be the main
focus while making a decision.
- Answers are identifiable, noticeable language errors,
clear attempt to write with their own words and
sentences.
Poor
- Able to briefly state the meaning of sunk costs in
decision making. Points are not supported with relevant
sources and examples.
- Able to state some reasons people choose to focus on 15-19
sunk costs while making decisions.
- Able to provide one (1) brief example of focusing on
sunk costs. Example may not be entirely relevant to the
meaning of sunk costs. Example may not be his/her own
experience as well.
- Able to briefly explain what he/she should do the next
time to avoid focusing on sunk costs. Answer may not
be related to the example given and shows little
understanding of why sunk costs should not be the main
focus while making a decision.
 - Poor organisation of main points (ie. reader has to look
around for main points because they are not properly
listed). Major language errors.
Very poor
- Answer given is irrelevant to the question.
- Not able to show understanding of sunk costs
- Not able to explain the reasons people choose to focus
on sunk costs while making decisions.
- Not able to provide example of his/her own experience
on focusing on sunk costs. <15
- Not able to explain what he/she should do the next time
to avoid focusing on sunk costs. Answer does not show
understanding of why sunk costs should not be the main
focus while making a decision.
- Unable to detect the main points as the answer given is
irrelevant to the question. Major language errors

Suggested answer
Explanation
 Sunk costs refer to money, effort and time already invested that you will not recover no
matter what you do.
 Sometimes, when making decision, we focus a lot on the sunk costs.
 However, sunk costs will not change no matter what we do next because the money, time and
effort invested are already gone.

Why do people focus on sunk costs?

 It is wasteful to ignore sunk costs
 It makes us look like we are incompetent
 It makes us look like we are indecisive and always changing our mind.
 It makes us look like we are not resilient in seeing things through
 It makes us inconsistent.
 We do not want to admit to people that our earlier decision was a mistake.

How to avoid from focusing on sunk costs? **relate to example**

- must first accept that the decisions we make today can only influence the future and never
change the past. Ignore all the past losses and costs.
- Focus on making a decision that will shape the future.
- Acknowledge the reason of not wanting to ignore the sunk costs. Sometimes, it could be
because you think that by being persistent, something good will happen. However, sometimes
it is only because of ego or your reluctance to admit that you made a mistake.
- It is important to know when to stop and be able to differentiate situations where being
persistent in following an earlier decision will pay off from situations where it is just a
misdirected course that you should abandon immediately.
Question 2:
What are three (3) of the basic types of decisions? Explain those types of decision with two (2)
examples for each.
(30 marks)

Excellent

- Able to clearly define and explain three basic types of

decisions. All the points are well supported with
relevant sources and examples.
- Able to provide two relevant examples for each type
of decisions. Examples are well elaborated.
30-25
Identify the basic types of decisions = 1 mark
Explanation = 3 marks
Example = 3marks x 2 = 6 marks
Total = 10 marks for each fallacy
- Answers are well organised, minimum to zero language
errors, clear and identifiable main points; use their own
words and sentences in the answers.
Good

- Able to briefly define and explain three basic types of

decisions. All the points are well supported with
relevant sources and examples.
- Able to provide two examples for each type of
decisions. Examples are briefly elaborated 24-20
- Points are supported with relevant sources and
examples.
- Answers are well organised, has minor language
errors, clear and identifiable main points; use their
own words and sentences in the answers.
Acceptable

- Able to state the definition and briefly explain three

basic types of decisions. All the points are supported
with relevant sources.
- Able to provide two brief examples for each type of 19-15
decisions.
- Answer points are identifiable, noticeable language
errors, clear attempt to write with their own words
and sentences.
Poor

- Able to state the definition and briefly explain three <15

basic types of decisions based on the content of the
 course material.
- Able to state two brief examples for each type of
decisions. Example given is not entirely relevant.
- Poor organisation of main points (ie. reader has to
look around for main points because they are not
properly listed). Major language errors.

Question 3:
When making or listening to arguments, we need to look out for fallacies. Fallacies are defects in
logic that weaken arguments.

Explain three (3) fallacies with an example for each one based on your experience or
observation. Provide one (1) way to avoid each of these fallacies.
(30 marks)

Excellent

- Able to clearly explain any three fallacies that weaken arguments

in decision making. All the points are well supported with
relevant sources and examples.
- Able to provide one relevant example for each fallacy based on
own experience or observation (not from course material) and
also ways to avoid those fallacies.
30-25
3 fallacies x 1 marks = 3 marks
3 explanation x 3 marks = 9 marks
3 examples x 3 marks = 9 marks
3 ways x 3 marks = 9 marks
Maximum 10 marks for each fallacy.

- Answers are well-organised, minimum to zero language errors,

clear and identifiable main points; use their own words and
sentences in the answers.
Good
- Able to clearly explain any three fallacies that weaken arguments
in decision making. Points are supported with relevant sources
and examples.
- Able to provide a relevant example for some of the fallacies (not
from course material) and also ways to avoid those fallacies.
- Points are supported with relevant sources and examples. 24-20
- Answers are wellorganised, minor language errors, clear and
identifiable main points; use their own words and sentences in the
answers.

Acceptable
19-15
 - Able to briefly explain any three fallacies that weaken arguments
in decision making taken from the course material.
- Able to provide a relevant example for some of the fallacies
(from course material) and also ways to avoid those fallacies.
- Only some points are supported with relevant sources and
examples.
- Answer points are identifiable, noticeable language errors, clear
attempt to write with their own words and sentences.
Poor
- Able to clearly explain some of the three fallacies that weaken
arguments in decision making taken from the course material.
- Able to provide a relevant example for some of the fallacies
(from course material) and a relevant way to avoid some of the
fallacies. The examples may not be based on their own
<15
experience.
- Points are not supported with relevant sources and examples.
- Poor organisation of main points (ie. reader has to look around
for main points because they are not properly listed). Major
language errors.

Suggested answers:-
Fallacy Description Examples How to Avoid it
(based on (must be relevant to the
their own example given)
experience)
Generalisations Making assumptions about  Ensure that the sample size is
a whole group of people large enough to support the
based on a inadequate conclusions.
sample.  Increase sample size or draw a
more modest conclusion by
using the word “some” or
“many”.
 Ask the opinion of more
people before drawing a
Accept any conclusion.
relevant  Do more research before
example making a conclusion.
False Cause Drawing improper  When making causal
conclusions through statements, be sure you can
sequencing. If A comes explain the process through
before B, then A causes B. which A causes B beyond their
mere sequence.
Personalisations Inserting personalities Focus on merits and supporting
inappropriately into an data of an argument, not on the
argument. Common in personality or behaviour of the
political arguments. people making the arguments.
Everyone Does Justifying an issue based The popular position is not
it on only the number of always the right one. Be wary of
people involved. arguments that rely exclusively
on one set of numbers.
Appealing to Using an endorsement Quoting authorities is a valuable
authority from someone as a primary tool to build an argument;
reason for supporting a however, make sure the
point of view. authorities you quote are truly
experts on the issue you are
discussing.
Weak Analogy Using irrelevant Make sure you identify the
similarities in two objects properties relevant to the
to draw a conclusion. argument you are making and
see if both share those properties.

(Based on the example, the

False Setting up a situation
Dichotomy where there seems to be
only two possible options.
If one option is discredited,
the other must be accepted.
Claiming that there are
only two options available
when there are more.
motorcycle does not provide
protection to the rider but the car
does. Equating the two vehicles
based on travelling speed is not
relevant to the argument.)
Ask yourself, are there only two
options? Look for a third option.
If you were asked to develop a
compromise between the two
positions, what would it look
like? What would its strengths
and weaknesses be?

Accept any other relevant answers.

Please be reminded that this marking scheme especially the suggested answer serves only as a
reference to you. As students may have different style of writing, kindly accept answers that
are relevant to the question.

This marking scheme is only for the tutor and should not be shared with the students.

When marking, kindly provide constructive comments which can help students to do better for
their next assignment. Avoid giving comments that are too general or may discourage students.
Highlight areas that require improvement and direct them to the right source for accurate answers.

Please do not put in marks in the assignment.

Thank you.