Economic Principle & Decision Making
Economic Principle & Decision Making
ASSESSMENT BRIEF
: Consultative Report
Individual/Group Individual
Length 3000 Word Limit
Learning Outcomes
Interpret and successfully apply economic concepts of supply and demand for effective organisational problem solving
Apply quantitative methods to forecast complex business variables including demand, production and costs
Weighting 50%
Total Marks 50 marks
Context: Traditionally, the study of economics is split into micro- and macroeconomics. This assessment requires the student to superimpose microeconomic concepts onto the broader macro-environment where business and leadership thinking abound. To do this effectively, the student will engage in deep, critical thinking on both technical and high-level issues as they demonstrate a thorough understanding of the market, estimate demand and then
apply research and synthesis skills to illustrate current and historical thinking on labour and the nature of work in the context of contemporary social settings.
Instructions:
The student will perform a labour market analysis to give a traditional overview of the market and will then discuss how findings apply to everyday life and society broadly. In the analysis students are expected to demonstrate an understanding of traditional market theory and of economic methods, followed by a critical discussion informed by research.
Assessment 1 should take the form of a consultative report which includes the following elements:
? An introduction and context for the report;
? A critical discussion of traditional supply and demand including their nature;
? A regression analysis using the data provided and forecast future conditions;
ECON6000 Assignment One Brief Page 2 of 4
? A critical analysis founded on research into the concepts of nominal and real wages and
their interrelationship;
? A drawing together and synthesis of the arguments of the report into a convincing
conclusion.
The report is to be limited to 3000 words, exclusive of formal document sections (i.e. title page, executive summary, table of contents, references list, appendices, etc.), citations, tables and graphs. Students should submit one file through Turnitin.
There are a number of forms the report could take. The exact form the report will depend on the additional research the student will undertake; students should aim for the demonstration of deep learning, founded on theory through thorough reading of scholarly literature, rather than on getting any aspect of the brief ‘right.’ Students should commence this assignment early, keep regular backups and ensure they submit the correct, final version. Students should use this brief as the instruction set for the assignment requirements. Additionally, the rubric below can be used to describe what unacceptable, functional, proficient, advanced and exceptional assignments might look like
according to the criteria in the leftmost column of each row. As this is a Masters level subject, students are expected to engage with high-quality academic journal articles, using the Torrens University Library. Textbooks, Wikipedia and, in general, anything that can be obtained through an open Google search page are considered
supplementary material, unbecoming of a postgraduate.
