Subject Code and Title ECON2002 Principles of Economics
Assessment Assessment 2 - Assignment (Research Based)
Length 1 500 Words (+-10%)
Learning Outcomes 1, 2, 3, 4, 5 and 6
Submission End of Week 9 (11.55pm Sunday)
Total Marks 100 marks
Assessment assesses students’ understanding of the macroeconomic variables of Gross Domestic Product (GDP), inflation and unemployment and makes a comparative between nations.
Individual students are expected to prepare a 1 500 word research report which addresses the following:
You are required to select any one group of countries from the table below.
Group A Finland Norway Sweden Denmark
Group B Australia Canada New Zealand United States
Group C Singapore Thailand Indonesia Malaysia
Group D Russia Greece Spain Italy
(a) Collect and tabulate information on the Nominal GDP of each of the countries (in Millions of the respective currency of the country), inflation rate and the unemployment rate for the years 2006 to 2018. Determine the nominal growth rate of GDP over the period. (15%)
(b) Provide on a comparative basis a well-reasoned and supported comment on what has happened to economic growth in each of the countries chosen over the period 2006 to 2018. From your research provide reasons why such a pattern of economic growth occurred. (750 words) (25%).
(c) Discuss how economic growth has influenced the inflation rate and unemployment rate over the given period. (550 words) (20%).
(Note that for the introduction and the conclusion the maximum number of words should be 200)
In addition to the above, you will also be assessed on the following: (see marking Rubric at the end for more description of expectation).
(d) Content audience and purpose (5%)
(e) Critical reasoning, presentation and the logic of your argument and/or position (10%)
(f) Analysis and Application with synthesis of knowledge (10%)
(g) Use of academic conventions and sources of evidence (5%)
(h) Effective communication (5%)
(i) Peer review (5%)
Submission Instructions: This assignment must adhere to the following:
1. This assignment must be prepared and submitted as a group of three (3) individuals.
2. You must prepare a Business Report. Please ensure that a report format is adhered to as strictly as possible. Marks will be lost if any other format is used.
3. Submit as a Word document properly referenced using the APA referencing style. Wikipedia and Investopedia not acceptable academic sources. Note that the Reference list, appendices and calculations are not included in word count.
4. As the assessment is group work each member of the group will receive the same amount of marks regardless of which part of the assessment he/she contributed to.
Learning Rubrics - Assessment 2
Assessment Attributes Fail (Unacceptable) Pass
(Functional) Credit (Proficient) Distinction
(Advanced) High Distinction
(Grading Scheme) Evidence of unsatisfactory achievement of
one or more of the learning objectives
of the course, insufficient understanding
of the course content and/or
unsatisfactory level of skill development. Evidence of satisfactory
achievement of course
learning objectives, the
development of relevant
skills to a competent
level, and adequate
critical analysis skills. Evidence of a good level of understanding, knowledge and skill development in relation to the content of the course or work of a superior quality on the majority of the learning objectives of the course. Demonstration of a high level of interpretation and critical analysis skills. Evidence of a high
achievement of the
of the course
such areas as
use of methodology
skills. Evidence of an exceptional level of achievement of learning objectives across the entire content of the course demonstrated in such areas as interpretation and critical analysis, logical argument, creativity, originality, use of methodology and communication skills.
Students expected to
produce a well-
critical reasoning and
Content, Audience and Purpose
(Students should show an understanding of the essence of the assignment, the central idea(s) to be addressed and pitch the report accordingly)
5 Does not meet minimum standard
Demonstrates no awareness of context and/or purpose of the assignment.
0-2.4 Meets minimum standard
Demonstrates limited awareness of context and/or purpose of the assignment
2.5-3.24 Moves beyond minimum standard
Demonstrates consistent awareness of context and/or purpose of the assignment.
3.25-3.74 Exceeds minimum standard
Demonstrates an advanced and integrated understanding of context and/or purpose of the assignment.
3.75-4.24 Exceeds minimum standard and exhibits high levels of independence
Consistently demonstrates a systematic and critical understanding of context and purpose of the assignment.
Limited understanding of required concepts and knowledge
Key components of the assignment are not addressed.
Specific position (perspective or argument) fails to take into account the complexities of the issue(s) or scope of the assignment.
Makes assertions that are not justified.
Analysis and Limited synthesis and analysis. Demonstrated analysis Well-developed analysis Thoroughly Highly sophisticated
application with synthesis of new Limited application/recommendations and synthesis of new knowledge with and synthesis with application of developed and creative analysis and and creative analysis, synthesis of new with
knowledge based upon analysis. application. recommendations linked to synthesis with application of existing knowledge.
(Examining whether Shows the ability to analysis/synthesis. pretested models Strong application by
the students have interpret relevant and / or way of pretested
applied the knowledge information and independently models and / or
of GDP, economic growth and unemployment to real countries) literature. developed models and justified recommendations linked to analysis/synthesis independently developed models. Recommendations are clearly justified based on the analysis/synthesis.
Applying knowledge to new situations/other cases.
10 0-4.9 5.0-6.4 6.5-7.4 7.5-8.4 8.5-10
Poorly written with errors in spelling, grammar.
Demonstrates inconsistent use of good quality, credible and relevant research sources to support and develop ideas.
There are mistakes in using the APA style.
The aim is to communicate well – to be understood in arguments presented and to address all the questions in the assessment.
5 Difficult to understand for audience, no logical/clear structure, poor flow of ideas, argument lacks supporting evidence.
No effort is made to keep audience engaged; audience cannot follow the line of reasoning.
Little use of presentation aids, or the presentation aids and material used are irrelevant.
0-2.4 Information, arguments and evidence are presented in a way that is not always clear and logical.
Attempts are made to keep the audience engaged, but not always successful. Line of reasoning is often difficult to follow.
Presentation aids are used more for effect than relevance.
2.5 Information, arguments and evidence are well presented, mostly clear flow of ideas and arguments.
The audience is mostly engaged, line of reasoning is easy to follow.
Effective use of presentation aids.
sensitivity Information, arguments and evidence are very well presented, the presentation is logical, clear and well supported by evidence.
Engages the audience, demonstrates cultural sensitivity.
Carefully and well prepared presentations aids are used.
3.75-4.24 Expertly presented; the presentation is logical, persuasive, and well supported by evidence, demonstrating a clear flow of ideas and arguments.
Engages and sustains
audience’s interest in
demonstrates high levels of cultural
Effective use of diverse presentation aids, including graphics and multi-media.
Peer Review Showed no real effort and contribution to Has fulfilled part of the Has been following Very valuable Has been one of the
the team. Other team members had to agreed tasks and instructions of one or member of the key members of the
contribute more and take on also the overlooked some. Has more team members. team actively group, taking initiative
tasks agreed by this member not been initiating much Contributed to the team contributing to the and extensively
of the team group effort. efforts as per agreed team effort and the contributing to the
More passive member of tasks, but did not go group assessment group assessment
the group. beyond that. outcome. effort.
5 0 – 2.4 2.5-3.24 3.25-3.74 3.75-4.24 4.25-5