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Economics Assignment

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21 views1 page

Economics Assignment

Uploaded by

dev
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Assessment Task Due Date % SILOs Assessed

Economics Assignment (1,000 words) 30 1, 2 & 3


Submission Details
The Major Assignment must be your own work submitted to Turnitin via LMS

Grading Criteria and Feedback


This assignment is to use an economic principle or principles discussed in this subject to explain some
pattern of events of behaviour that you have personally observed. (this is based on an assignment "The
economic naturalist', by Robert Frank (2007)).

Description of Task
Choose an economic principle, or principles from the subject and using your own observations explain some
pattern of events or behaviour. The assignment does not need to contain complex terminology, algebra or
graphs. The best assignments are ones that would be clear to someone who has never studied economics.
Further, you do not need to provide voluminous research in support of your argument, although a relevant
fact or two can help in convincing others. It makes no difference whether your topic is "important", but do
try to choose something interesting. A successful paper is one that begins with an interesting question and
then uses an economic principle or principles to construct a plausible solution.

The aims of the assignment are to encourage students to:

1. Apply economic concepts and principles to analyse real-world problems or phenomena (SILO 1).
2. Interpret evidence and/or data for the problem analysed (SILO 2).
3. Utilise economic tools and approaches to make draw conclusions and make recommendations
(SILO 3).
4. Better understand the complexities of human behaviour (SILO 4).

Some economics principles to consider:

• Incentives matter: because they affect the benefits and costs of taking one action as opposed to
another.
• The principle of comparative advantage: Everybody does best when each concentrates on the
activity for which he or she is relatively more productive.
• Trade-offs: in economics we often look at the trade-offs involved in a decision.
• Opportunity cost: each decision we make involves an opportunity cost, that is, the next best
alternative.
• The cost-benefit principle: Take no action unless its marginal benefit is at least as great as its
marginal cost.

The assignment must be:


• Word processed in 12 point font at 1.5 spacing
• Not more than 1000 words
• Additionally, as we take academic integrity seriously, it is recommended that you check the
originality of your assignment by submitting to Turnitin prior to the due date.

Feedback
• The assignment will be graded according to the marking rubric
• Detailed feedback will be provided within 3 weeks of the due date.

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