MBS686 ECONOMICS AND BUSINESS STRATEGY : Economic Growth of Australia
Assessment 1: Mid-semester (in-class test). This in-class test is designed to assess student understanding of the learning outcomes listed for each topic covered and is designed as formative assessment. It will be a 1 hour closed-book test. The test is divided into two sections with a total mark of 20%. Section A (worth 5%) is made up of 5 multiple choice questions. Students are required to answer ALL questions in this section. All questions in Section A carry equal weight (1% each). Section B (worth 15%) is short answers type. Students are required to answer TWO questions in this section out of a choice of 5 questions. All questions in Section B carry equal weight (7.5 % each).
Assessment 2: Research Project. This assignment is designed to develop skills in assessing market information and presenting clear written communication about economic outcomes in markets, as this is an important employability skill. Choose one of the followings:
Report Topic 1. Ma Nuo, a 22 year old model from Beijing, said:
I’d rather cry in a BMW than laugh on a bicycle.
The truth is that Ma is far from alone in her material requirements for marriage. Millions of Chinese women, and their parents, are like her.
You are hired by a marketing agency to write a report on what motivates people to consume (impulsive and compulsive consumption). You discover that the consumer choice theory has something to say about our consumption behaviours. Below are 8 concepts that are related to the consumer choice theory. Choose any three concepts. Write your report defining and explaining the importance of each of the chosen concept. Each concept essay should not exceed 800 words (or 2400 words in total for the three concepts).
- Indifference curves
- Consumer equilibrium
- Income consumption curve
- Price elasticity of demand
- Income effect
- Consumer surplus
- Compensated demand curve
Report Topic 2. Pick a country. Use the Solow growth model to analyse the impact of innovation and technological progress on the economic growth of the country of your choice. Your analysis should not exceed 2400 words.
Assessment 3:Presentation of findings of the research project.
Examination (Assessment 4)
Two hours closed-book examination (50%). Students are required to answer Three (3) questions only out of a choice of Seven (7) questions. All questions carry equal marks (16.66% each). Further information will be provided on the final exam towards the end of semester.
Determination of the final grade
Your final result for the unit will be reported by the following letter grades. Note that marks may be scaled to ensure equity of marking by different tutors and across assignments of varying difficulty.
|High Distinction Exceptional performance indicating complete and comprehensive understanding of the subject matter; genuine mastery of relevant skills; demonstration of an extremely high level of interpretative and analytical ability and intellectual initiative; and achievement of all major and minor objectives of the subject.
|Distinction Excellent performance indicating a very high level of understanding of the subject matter; development of relevant skills to a very high level; demonstration of a very high level of interpretive and analytical ability and intellectual initiative; and achievement of all major and minor objectives of the subject.
|Credit Good performance indicating a high level of understanding of subject matter; development of relevant skills to a high level; demonstration of a high level of interpretive and analytical ability and achievement of all major objectives of the subject; some minor objectives not fully achieved.
Satisfactory performance indicating an adequate understanding of most of the basic subject matter; partial development of relevant skills; adequate interpretive and analytical ability and achievement of all major objectives of the subject; failure to achieve some minor objectives.
Unsatisfactory performance indicating an inadequate understanding of the basic subject matter; failure to develop relevant skills; insufficient evidence of interpretive and analytical ability; and failure to achieve major and minor objectives of the subject.