Assignment Details

Programme: Foundation in Arts

Course Title: Principles of Economics

Course Code: BEC203

Assignment Title: Group Assignment

Weighting: 30%

Lecturer: Tan Sue Lin

Assignment Timetable

Date Issued: 23 August 2021

Submission Date: 3 November 2021

Learning Outcomes to be assessed:

1. Explain how the market forces function, and how the management decisions
were made in theory and practice.

2. Explain and analyse issues in macroeconomics, including per capita income,

balance of payment, currency exchange.

3. Explain the basic concepts of macroeconomics for different business scenarios.

4. Explain and analyse the impact of government policies on the economic

variables.
Purpose of this assignment

This assignment will enable learners to gain understanding of the principles of

microeconomics, provides the learners with the basic intuitive and analytical tools to
understand the economic rationality and the way it analyzes human behavior. Besides
that, introduces the principles of macroeconomics and explores how governments apply
these principles in resolving macroeconomics problems in the economy.

Scenario

You are a junior journalist in Economic Journal Firm. Your firm analyses existing
organisations to assist their businesses to achieve efficiency and effective goals.
Besides that, your firm also research towards every country’s economy performance.

Assignment (Word count: min 2,000 words, max 2,200 words)

1.0 Introduction

Briefly explain the background of the:

a. Chosen product

b. Chosen organisation from that product

c. Chosen country from that organisation

2.0 Elasticity of the product

By using the FOUR (4) factors that determine elasticity of the chosen product,
determine the organisation’s product is under elastic or inelastic supported with
relevant examples
3.0 Market structure of the company

Explain the characteristics of the market structure of the chosen organisation

supported with relevant examples.

4.0 Macroeconomic objectives analysis

Analyse the trend of TWO (2) macroeconomic objectives (unemployment/

inflation/ GDP/ BOP on trade balance [export and import]) of the chosen country,
by using the latest 10 years’ data.

 Present your 10 years’ data using line graph and table.

 Explain your findings from the data that you have found.

5.0 Government’s policies

Evaluate, by using the TWO (2) government’s policies (Fiscal policy, monetary
policy or supply side policy), achieving/solving the macroeconomic objectives
stated in 4.0.

6.0 Conclusion

Write a short summary based on the findings that you have found earlier in 2.0
to 5.0 and suggest for recommendation on what should the country do.

Submission Guidelines

1. Cover page to include:

 Product, Organisation and Country Name

 Student details (full name & student ID)

 Subject code and name

 Lecturer Name

2. Assignment question together with the marking criteria are included

3. Content page with correct page number are included

4. Format of assignment:

 Font type: Times New Roman

 Font size: 12pt

 Alignment of the text: Justify

 Line spacing: 1.5

5. Use only Harvard Referencing for in-text-citation, reference list MUST be

included

6. Late submission marks deduction policy as below:

 1st working day Deduct 10%

 2nd working day Deduct 30%

 3rd-5th working day Deduct 50%

 More than 5th working day Deduct 100%

Marking criteria

Items % Marks Allocated Total

(√)
5 4 3 2 1
1.0 Introduction 10
2.0 Elasticity of the product 20
3.0 Market structure of the 20
company
4.0 Macroeconomic objectives 20
analysis
5.0 Government’s policies 20
6.0 Conclusion 10
Deduct 5 marks each for every missing/incorrect items as
mentioned in submission guidelines
Grand Total 100