U25292:ECONOMICS
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U25292:ECONOMICS
COURSEWORK ASSIGNMENT 2
2021-2022
COURSEWORK ASSIGNMENT 2
This is an individual assignment. You are required to answer all parts of the assignment. The hand-in date for the assignment is FRIDAY 14TH JANUARY 2022.
The Intended Learning Outcomes of the Assignment are:
▪ Examine the perfectly competitive market structure.
▪ Examine the key features of competition in the short and long-run
▪ Evaluate the factors affecting the firm.
Assignment
It is often said that the market for agricultural goods is indicative of a perfectly competitive market. Hence, what are the implications of a perfectly competitive market for a firm with pretensions to compete in such a market?
Assignment Guide
To enable your preparation and understanding of this assignment you will need to study lecture 6 of the module and chapters 8 and 9 of Begg, Vernasca, Fischer, and Dornbusch, and Jones chapter 4 of Sloman and Jones. To complete the assignment, you will need to explain and discuss the concept of perfect competition and its defining characteristics. This will require a clear explanation of the essential requirements that must be satisfied if a market is to be perfectly competitive and to demonstrate how the perfectly competitive firm determines its best level of output in both the short-run and long-run, in addition to other related points. You should ensure that you answer the question directly and to bring out in your answer the ramifications for a firm operating under conditions of a perfectly competitive market structure and, in turn, the implications for such a firm as the question requires. A good answer should express your own view as well as to provide a well-thought-out explanation for the position taken.
I expect formal and rigorous answers, which mean that you should provide sound discussion of the relevant points and analysis where required. Remember to give the explanation in your own words instead of copying them from the textbook. Please ensure that your assignment is properly referenced.
Avoid the temptation of presenting the discussion under separate heading. I expect to see coherent and logical communication of ideas and economic concepts with linkages between the central points ofthe question.
Marking Scheme
The marks will be allocated as follows:
Answers question or correctly approaches question with relevant content, clear structure and logical development of argument 40%
Interpretation of question and demonstrable knowledge ofthe topic 20%
Use of supporting literature, examples from economics 15%
Connectedness and relevance of argument between all parts ofthe discussion 10% Presents clear argument throughout, strength of analysis and conclusion. 15%
Useful References
▪ Begg, D, Vernasca. G, Dornbusch. R, and Fisher. S. (2020) Economics (12th ed) McGraw-Hill.
▪ Sloman, J, and Jones, E. (2017). Essential economics for business (5th ed.). Harlow, England: Pearson Link: Physical or Electronic.
▪ Lecture Notes
▪ Journal Articles on Course Moodle Site
Other useful references
▪ Parking, M., Powell, M., and Matthews, K. (2017) Economics (10th ed) Pearson.
▪ Case, K. (2016) Principles of Economics ( 12th ed) Pearson.
Hand-in Date
The hand-in date for Coursework Assignment January 14 2022 by 23:55. The coursework must be submitted via the Moodle dropbox.
Note: This is the latest date we are allowed to give for handing in the assignment. No extensions beyond this date are possible.
Late Submission of Coursework
Coursework submitted after the published submission date without a valid Extenuating Circumstances Form (ECF), but within twenty working days of that date, will be marked. The mark awarded will be limited to the unit pass mark (40% unless otherwise specified in the unit handbook).
Coursework submitted more than twenty working days after the published submission date will not be marked, and a mark of zero will be recorded on the student's record. It will be recorded as a non-submission.
Students are strongly advised to keep a copy of their work. Corruption of computer disks is not an adequate excuse for late hand in, as work should be adequately backed up.
Word Count
The coursework word count is a MAXIMUM OF 1,000 WORDS (THERE IS NO ±10% MARGIN) excluding reference list, bibliography, appendices, the cover page, abstract, glossary and list of tables, figures, charts and abbreviation. Tables are expected to be primarily for the presentation of numerical data. Work that exceeds 1,000 words will not be read beyond the stated word count.
The word count should be stated at the top of your submission. A falsely stated word- count is an assessment offence, which will be referred to PBS Student Assessment
and Assessment Regulations Lead.
Formatting
The work should be word processed. Font size should be between 12 and 14 and ‘easy to read’ e.g. Calibri, Arial, Times New Roman. Line spacing should be between 1.5 and 2 with (approx.) 4 cm margins all round. The Header must include the student number and the Footer must include a page number. There are no extra marks for excessive presentation; for example elaborate graphics on the cover sheet.
Referencing Requirements
All sources should be acknowledged and appropriately cited within your work, following the University's approved referencing conventions [APA 6th ed.]. For further guidance see:http://referencing.port.ac.uk/
Referencing is required to give intellectual credit to your source, help your reader recover your source easily and to avoid being accused of plagiarism.
Students are reminded that the University will not tolerate academic dishonesty in any form. This is cheating. For further guidance see Student Handbook pages 8 and 9:
http://www.port.ac.uk/accesstoinformation/policies/teachingandlearning/filetodownloa d,73452,en.pdf
Please include a Reference List of all items cited in your work and follow this with a Bibliography to show your wider background reading.
Plagiarism
Students are reminded of the need to avoid plagiarism in all assessments. The definition of plagiarism includes claiming somebody else’s work as your own, for example through inadequate referencing of sources of material used (including Internet sources). Direct quotations must be enclosed in quotation marks and referenced. Using other people’s ideas requires a reference even if it is not a direct quote. The University Regulations describe plagiarism as:
the incorporation by a student in work for assessment of material which is not their own, in the sense that all or a substantial part ofthe work has been copied without any adequate attempt at attribution, or has been incorporated as if it were the student’s own when in fact it is wholly or substantially the work of another person or persons.
Any student suspected of plagiarising will be referred to the PBS Student Assessment and Assessment Regulations Lead and an Academic Misconduct Hearing will be arranged.
If any student has a query about any of the above matters and wishes to obtain clarification or further information please contact the unit co-ordinator or your personal tutor.
Marking and Feedback
Marking will be done in accordance with the marking criteria grid below (Table 1) and the University of Portsmouth grading criteria for UG level 6 (Table 2). Marks and feedback will be available by MON 15th FEBRUARY 2022. Marks will be posted on the Student Portal, and your marked coursework and tutor’s feedback will be available to you once it has been marked and processed. If there is any delay in the processing of marks, the unit co-ordinator will communicate this to you and make arrangements for the marks to be posted on Moodle so that you receive them as soon as they are ready.
Individual feedback will be provided on feedback sheets . These sheets will highlight the strengths of the work and identify development points to help you to work out where you went wrong and how you can improve your performance in the future.
2021-12-29