BBUS1IEI Economic Issues and Public Policy

Submission Details

Online submission. The assignment submission box will open two weeks before the final submission is due.

Grading Criteria & Feedback

This assignment is to use an economic principle or principles discussed in this subject to explain some pattern of events of behaviour that you have personally observed.

Description of Task

Choose an economic principle, or principles from the subject and using your own observations explain some pattern of events or behaviour. The assignment does not need to contain complex terminology, algebra or graphs. The best assignments are ones that would be clear to someone who has never studied economics. Further, you do not need to provide voluminous research in support of your argument, although a relevant fact or two can help in convincing others. It makes no difference whether your topic is "important", but do try to choose something interesting. A successful paper is one that begins with an interesting question and then uses an economic principle or principles to construct a plausible solution.  

The aims of the assignment are to encourage students to:

1. Apply economic concepts and principles to analyse real-world problems or phenomena
2. Interpret evidence and/or data for the problem analysed
3. Utilise economic tools and approaches to make draw conclusions and make recommendations
4. Better understand the complexities of human behaviour

Some economics principles to consider:

·         Incentives matter: because they affect the benefits and costs of taking one action as opposed to another.

·         Trade-offs: in economics we often look at the trade-offs involved in a decision.

·         Opportunity cost: each decision we make involves an opportunity cost, that is, the next best alternative.

·         The cost-benefit principle: Take no action unless its marginal benefit is at least as great as its marginal cost.

The assignment must be:

·         Word processed in 12 point font at 1.5 spacing

·         Not more than 1000 words

·         Additionally, as we take academic integrity seriously, it is recommended that you check the originality of your assignment by submitting to Turnitin prior to the due date. Also refrain from using ChatGPT, grammarly and other Artifical Intelligence tools as this will also be picked up by our system and will incur a heavy penalty, and/or the need to submit a different assignment plus an ‘interview’ with the lecturer.

Feedback

·         The assignment will be graded according to the marking rubric

·         Detailed feedback will be provided within 2 weeks of the due date.