BACHELOR OF BUSINESS ADMINISTRATION II

ECONOMICS II

ASSIGNMENT

INTRODUCTION TO THE ASSIGNMENT

• This assignment consists of TWO questions.

• Please answer all of the questions.

• Good luck!

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ASSIGNMENT QUESTIONS

QUESTION 1 (55 MARKS)

1.1 Using the link provided below, access the following case study on Venezuela: (20)

Cheatham, A., Roy, D., & Labrador, R.C. (2023, March 10). Venezuela: the rise and fall of a petrostate.
Council on Foreign Relations. https://www.cfr.org/backgrounder/venezuela-crisis [Accessed 14 March
2023].

Analyse Venezuela’s economy and identify the internal and external factors that have
led to its current economic position. If necessary, you are welcome to do further
research.

1.2 Develop a cause and effect model for the Venezuelan economic crisis. Be guided by (35)
the rubric provided below:

TOPIC POOR ROOM TO DEVELOP PROFICIENT MASTERLY

CRITERIA
Observation No attempt is made to An attempt is made to Concise observations and Thorough and critical
and observe and measure data observe and measure data of measurement of data of all observations and measurement
measurement of all aspects of economic all aspects of economic aspects of economic of data of all aspects of
behaviour relevant to the behaviour relevant to the behaviour relevant to the economic behaviour relevant to
Venezuelan economy. Venezuelan economy. Venezuelan economy. the Venezuelan economy.

Model building No economic model is An economic model is
provided. provided that is basic but can
be applied to the Venezuelan
economy under study
however the student has not
shown how.
An economic model is built An economic model is built that
that is general but applicable is relevant and specific to the
to the Venezuelan economy Venezuelan economy under
under study. study.

Test models No attempt made to test Some attempt to test the The model is tested The model is tested according
and develop the model against facts to model against facts to according to facts that agree to facts that agree with and
theory generate a theory. generate what might be the with proposed predictions those that are in conflict with
start of a theory. thus generating a biased proposed predictions thus
theory. generating an objective theory.

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QUESTION 2 [45 MARKS]

2.1 Analyse the state of the economy currently and map a reform programme to put it on a (25)
growth path in the aftermath of the COVID19 pandemic. With this in mind, make sure to
consider issues of sustainable development, economic growth and equity in your
proposed reformation programme.

Bear in mind this question will require you to read and research further than the
content given to you in the Study Materials provided. Be guided by the rubric provided
below:

TOPIC POOR ROOM TO DEVELOP PROFICIENT MASTERLY

CRITERIA
Analysis of the No analysis is provided. Some attempt is made to
state of the analyse the needs of the
economy at present country as a whole and not
just the economy.
A concise discussion of the
state of the nation bearing
in mind the needs of
citizens and the economy.
Objective and thorough
discussion of the state of the
nation bearing in mind the
needs of citizens and the
economy. Issues pertaining
to sustainable economic
growth and equity are taken
into consideration.

Possible solutions No attempt made to Some attempt is made to Some solutions proposed in A range of solutions are
proposed in the identify solutions in the identify solutions in the form the form of a reform proposed in the form of a
form of a reform form of a reform of a plausible reform programme. In addition reform programme. In
programme are programme. programme. possible deterrents to this addition, possible deterrents
proposed programme are recognised to this programme are
but not discussed. recognised and discussed.
Issues pertaining to
sustainable economic growth
and equity are taken into
consideration.

The reform No recommendations Recommendations made Plausible recommendations Recommendations made are
programme is made that make barely plausible and vaguely made that make provision astute, plausible and
conscious of the provision for the make provision for the for the COVID19 pandemic justifiable and that make
impact of the COVID19 pandemic COVID19 pandemic both both locally and globally. provision for the COVID19
COVID19 pandemic both locally and locally and globally. pandemic both locally and
both locally and globally. globally.
globally

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2.2 Based on your response to Q2.1, what interventions would you put in place if you were (20)
President that do not require external borrowing?

TOPIC POOR ROOM TO DEVELOP PROFICIENT MASTERLY

CRITERIA
Implications of the No implications Attempt made to discuss A concise discussion of Objective and thorough
proposed interventions discussed. the proposed the proposed discussion of the proposed
identified in Q2.1 interventions, if only at a interventions, from both a interventions, from both a
theoretical level. theoretical and practical theoretical and practical
perspective. perspective and the
implications of these
decisions is made evident.

Possible solutions and No attempt made to Some attempt is made to Some solutions proposed, A range of solutions are
mitigation of risk as a identify solutions or risks identify solutions or risks risks in changes to proposed, the
result of changes to as a result of changes to as a result of changes to economic policy are interventions are critically
economic policy. economic policy. economic policy. recognised but not assessed, and feasible
discussed. mitigation strategies put
forward.

Recommendations No recommendations Recommendations made Plausible Recommendations made

made. are barely plausible. recommendations made. are astute, plausible and
justifiable.

Total Marks: 100

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