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BU6007 Introduction to Economics

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Programme Bachelor of Business
Course BU6007 Introduction to Economics
Assessment Individual Report
LO assessed 1-      Demonstrate detailed knowledge of microeconomics concepts and apply that knowledge to a particular market or market structure.

2-      Apply tools of economic analysis to a range of issues and appropriately use them to demonstrate economic concepts.

3-      Identify the key indicators with regards to a country’s economic goals and explain how fiscal and monetary policies help achieve these macroeconomics goals.
Submission 18th June 2020 at 4:00 pm on Moodle Turnitin.
Length 540 words (+/- 10%), excluding the cover page & the references.
Penalty Late submission will result in a not competent grade. 

 

A word count falling outside of the required range will result in a not competent grade. 

Failure to provide accurate, complete and correctly formatted references will result in a not competent grade.

 

 

 

Scenario:

The government has recently assigned you (as an economist) to investigate the effect of the global pandemic of Covid-19 on the economy of Bahrain. Your report must include the following three sections of content and a section for references.

 

 

 

 

 

 

 

Report Layout:

Section 1:

Choose three products or categories of product where the global pandemic has created either a supply shock or a demand shock. Apply microeconomic concepts to analyse the likely short term and long-term effects of the pandemic on these markets. [LO1] [LO2]

 

Section 2:

Discus what, if any, fiscal and monetary policy actions that the government of Bahrain could use to help mitigate the economic impact of the global pandemic on the economy of Bahrain. [LO2] [LO3]

 

 Section 3:

Discuss the impact that any economic slowdown caused by the global pandemic could have on the GDP of Bahrain, unemployment in Bahrain, Bahrain’s fiscal deficit and Bahrain’s national debt. Also discuss the potential long-term effects of any policy actions mentioned in section 2 on Bahrain’s fiscal deficit and Bahrain’s national debt. [LO2] [LO3]

 

Section 4:

References (Use up-to-date APA referencing style)

 

Requirements:

  • The report you will submit to the government must be written in a formal language following the layout mentioned under the “report layout” above.

 

  • You must link your discussion to economic theories and relate it to the entire economy of Bahrain. All macroeconomics concepts you covered in your introduction to economics course are required, you will also need to cover some microeconomics theories to support your discussion (A minimum of two microeconomics concepts) are required.

 

  • Appropriate examples and graphs must be used to effectively illustrate the theories/models discussed.

 

 

Marking Rubric

 

Student Name:                                                                        Student number:

 

Part 1: Requirement check:

 

The assessor will first check that the report meets the specified basic criteria. If any of the following criteria are not met the report can not be used as evidence of competence in any of the learning outcomes.

 

Was the report received on time?:                                yes       no

 

Does the report meet the word count criteria?:          yes       no

 

Does the report meet the referencing criteria?:                      yes       no

 

 

 

 

Part 2: Demonstration of competence: (only complete this section if there is a ‘yes’ answer to all questions in part 1. )

 

LO1 Demonstrate detailed knowledge of microeconomics concepts and apply that knowledge to a particular market or market structure.

 

On reading section 1 of the report the assessor selects the box which best describes what the student has achieved in that section.

 

Competency Not Demonstrated Competency Demonstrated
Rarely able to logically connect microeconomic theory with up to date and credible data to analyse the likely short term and long-term effects of the pandemic on the selected markets. Consistently able to logically connect microeconomic theory with up to date and credible data to analyse the likely short term and long-term effects of the pandemic on the selected markets.

 

 

 

 

 

 

 

 
 

 

LO2 Apply tools of economic analysis to a range of issues and appropriately use them to demonstrate economic concepts.

 

On reading sections 1, 2 and 3 of the report the assessor selects the box which best describes what the student has achieved in those sections.

 

 

Competency Not Demonstrated Competency Demonstrated
Rarely able to appropriately apply tools of economic analysis to demonstrate the economic concepts discussed in sections 1, 2 and 3. Consistently able to appropriately apply tools of economic analysis to demonstrate the economic concepts discussed in sections 1, 2 and 3.

 

 

 

 

 

 

 
 

LO3 Identify the key indicators with regards to a country’s economic goals and explain how fiscal and monetary policies help achieve these macroeconomics goals.

 

On reading sections 2 and 3 of the report the assessor selects the box which best describes what the student has achieved in those sections.

 

 

Competency Not Demonstrated Competency Demonstrated
Rarely able to identify the key indicators with regards to a country’s economic goals and explain how fiscal and monetary policies help achieve these macroeconomics goals. Consistently able to identify the key indicators with regards to a country’s economic goals and explain how fiscal and monetary policies help achieve these macroeconomics goals.

 

 

 

 

 

 

 

 

 

Part 3: Course level competency:

 

LO1:

Has the student demonstrated competency in LO1 in the quiz:          yes         no

 

Has the student demonstrated competency in LO1 in the report:      yes         no

 

If either of the answers above are yes select:             LO1 competent

 

Otherwise select:                                                                    LO1 not yet competent

 

LO2:

Has the student demonstrated competency in LO2 in the quiz:          yes         no

 

Has the student demonstrated competency in LO2 in the report:      yes         no

 

If either of the answers above are yes select:             LO2 competent

 

Otherwise select:                                                                    LO2 not yet competent

 

LO3:

Has the student demonstrated competency in LO3 in the quiz:          yes         no

 

Has the student demonstrated competency in LO3 in the report:      yes         no

 

If either of the answers above are yes select:             LO3 competent

 

Otherwise select:                                                                    LO3 not yet competent

 

Grade:

If the student has been graded as competent in all there LOs select:       BU6007 competent

 

Otherwise select:                                                                                                            BU6007 not yet competent

 

 
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