Recent Question/Assignment
Faculty of Creative Industries and Business
Department of Accounting and Finance
Bachelor of Business
ACTY 5270 Economic Principles
Assignment
Semester: Semester Two 2015
Date issued: 4 August 2015
Due date: 8 September 2015
Delivery: Hand in to lecturer at commencement of class
Total marks: 50 marks
Weighting: 25 per cent of course
Instructions: Complete this cover sheet and attach it to your assignment. This is an individual assignment and must be your own work.
Collusion, copying or plagiarism may result in disciplinary action.
We advise that you keep a copy of this assignment.
Student Name:
Student ID No:
Lecturer: James Stewart
Student declaration: I confirm that:
This is an original assessment and is entirely my own work.
No other person has copied my work.
Where I have used ideas, tables, diagrams etc. of other writers, I have acknowledged the source in every case.
This assignment has not previously been submitted as assessed work for any academic course.
Signature of student: Date:
To do the best that you can do on this assignment you may:
• Talk it over with your lecturer
• Visit Te Puna Ako or Maia for learning advice and support
• Visit the Centre for Pacific Development and Support
• Contact the USU Advocate for independent advice; www.usu.co.nz
Assignment: Applying Demand and Supply Analysis to Current Issues
Part A 20 Marks
Using a 2015 news item that relates to an event in a market, you are required to use the supply and demand model to explain, analyse, and discuss the event(s) and issues described in your news story.
You should comment specifically about changes to demand and supply, and price and output.
Additional concepts that you should attempt to include are:
• elasticity (e.g. price elasticity, income elasticity and cross-price elasticity)
• substitutes and complements
• short-run and long-run equilibrium
Marks will be awarded for:
(a) The scope of concepts applied. (5 marks)
(b) The level of economic analysis. (5 marks)
(c) Conclusions and recommendations reached. (4 marks)
(d) Correctness of diagrams applied. (4 marks)
(e) Clarity of expression. (2 marks)
Word limit: Your answer to Part A should be limited to 800 - 1000 words (excluding diagrams).
Part B 30 Marks
Find a 2015 news item that is about government intervention in a market (it may be the same story used in Part A). You are required to identify the intervention being applied or suggested and the objective behind the policy. Using demand and supply analysis, suggest the impact that this policy may have on the relevant market and give an assessment of whether the policy is likely to achieve its objective.
Marks will be awarded for:
(a) The scope of concepts applied. (6 marks)
(b) The level of economic analysis. (8 marks)
(c) Conclusions and recommendations reached. (8 marks)
(d) Correctness of diagrams applied. (6 marks)
(e) Clarity of expression. (2 marks)
Word limit: Your answer to Part B should be limited to 800 - 1000 words (excluding diagrams).
Department of Accounting and Finance
Bachelor of Business
ACTY 5270 Economic Principles
Assignment
Semester: Semester Two 2015
Date issued: 4 August 2015
Due date: 8 September 2015
Delivery: Hand in to lecturer at commencement of class
Total marks: 50 marks
Weighting: 25 per cent of course
Instructions: Complete this cover sheet and attach it to your assignment. This is an individual assignment and must be your own work.
Collusion, copying or plagiarism may result in disciplinary action.
We advise that you keep a copy of this assignment.
Student Name:
Student ID No:
Lecturer: James Stewart
Student declaration: I confirm that:
This is an original assessment and is entirely my own work.
No other person has copied my work.
Where I have used ideas, tables, diagrams etc. of other writers, I have acknowledged the source in every case.
This assignment has not previously been submitted as assessed work for any academic course.
Signature of student: Date:
To do the best that you can do on this assignment you may:
• Talk it over with your lecturer
• Visit Te Puna Ako or Maia for learning advice and support
• Visit the Centre for Pacific Development and Support
• Contact the USU Advocate for independent advice; www.usu.co.nz
Assignment: Applying Demand and Supply Analysis to Current Issues
Part A 20 Marks
Using a 2015 news item that relates to an event in a market, you are required to use the supply and demand model to explain, analyse, and discuss the event(s) and issues described in your news story.
You should comment specifically about changes to demand and supply, and price and output.
Additional concepts that you should attempt to include are:
• elasticity (e.g. price elasticity, income elasticity and cross-price elasticity)
• substitutes and complements
• short-run and long-run equilibrium
Marks will be awarded for:
(a) The scope of concepts applied. (5 marks)
(b) The level of economic analysis. (5 marks)
(c) Conclusions and recommendations reached. (4 marks)
(d) Correctness of diagrams applied. (4 marks)
(e) Clarity of expression. (2 marks)
Word limit: Your answer to Part A should be limited to 800 - 1000 words (excluding diagrams).
Part B 30 Marks
Find a 2015 news item that is about government intervention in a market (it may be the same story used in Part A). You are required to identify the intervention being applied or suggested and the objective behind the policy. Using demand and supply analysis, suggest the impact that this policy may have on the relevant market and give an assessment of whether the policy is likely to achieve its objective.
Marks will be awarded for:
(a) The scope of concepts applied. (6 marks)
(b) The level of economic analysis. (8 marks)
(c) Conclusions and recommendations reached. (8 marks)
(d) Correctness of diagrams applied. (6 marks)
(e) Clarity of expression. (2 marks)
Word limit: Your answer to Part B should be limited to 800 - 1000 words (excluding diagrams).
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