Assignment Brief Academic Year 2022-23

Module code BM533: Contemporary Business Module Khadija Rauf

and title: Economics leader:

Assignment CW: Individual written assignment Assessment 100%

No. and type: on microeconomics and weighting:
behavioural economics – 2500
Submission Target 3 weeks after submission
time and date: feedback time deadline
and date:

Assignment task
CONTEXT

TASK 1 – 60% (1500 words)

FamilyDollar Groceries is currently experiencing fluctuation in its daily sales and looking for the best
solution to deal with this problem. Joe Dobb, one of the newly recruited sales managers of FamilyDollar
Groceries does not understand anything about the microeconomics concept of Demand and Supply
analysis and has approached YOU (L5 business economic student) for some explanation and how to
analyse Familymart’s Demand and Supply.
Critically analyse the following microeconomics concepts to Joe Dobb with reference to
FamilyDollar Groceries business.

1.1 Explain the law of Demand, movement along the same demand curve (with the aid of table and
diagram) and changes in demand curve with influencing factors (with the aid of diagram).
30 marks

1.2 Explain the law of Supply, movement along the same supply curve (with the aid of table and
diagram) and changes in supply curve with influencing factors (with the aid of diagram).
30 marks

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 Internal approval: Albert Owusu, 26/09/2022

TASK 2 – 40% (1000 words)

Select two (2) emerging theories or models of 21st century contemporary economics of your choice and two
20th century theories or models of your choice.

You are to compare and contrast and relate both to modern business practices. 30 marks

• General coherence of the assignment, introduction, presentation, conclusion and

referencing. 10 marks

TOTAL MARKS = 100%

This assignment has been designed to provide you with an opportunity to demonstrate your
achievement of the following module learning outcomes:
LO 1: Critically evaluate the alternative theories of economics and their implications for business, including
traditional economic approaches and more contemporary approaches relating to behavioural economics.

LO 2: Critically assess concepts and principles underlining business economics activity.

LO 3: Apply the appropriate models and techniques for analysing the environment(microeconomics) within
which business organisations operate

Referencing and presentational requirements

Please reference your work according to the Harvard style as defined in Cite Them Right Online
(http://www.citethemrightonline.com). This information is also available in book form: Pears, R. and
Shields, G. (2019) Cite them right: the essential reference guide. 11th edn. Basingstoke: Palgrave
Macmillan. Copies are available via the University library.

Submission details
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 • This assignment should be submitted electronically. Please use the relevant Turnitin submission
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Before you submit

• Please use the provided checklist below to make sure you are ‘fit to submit’ your work
• We recommend you use this checklist as soon as you get this assignment brief to help you plan
your work

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Fit to Submit: Assignment Checklist

This brief assignment checklist is designed to help you avoid some of the most common mistakes
students make in their coursework.
Have you read the assignment brief? If not, do so now!
In it you will find details of the assessment task, word count, the assessment criteria your work is
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Students often lose marks by forgetting some of the more straightforward elements of their
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for submission. If you need any help, ask your tutor and/or visit
https://bucks.ac.uk/students/academicadvice/assessment-and-examination

Have you read and understood the assessment criteria?

Have you met the learning outcomes? You will lose marks and your work may even be failed if
you have not.

Have you demonstrated you can think and write critically in the completed work? This means
you have supported your arguments/explanations appropriately e.g. using relevant academic
sources and you have offered discussion points which extends your own or others’ viewpoints
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Have you maintained an appropriate tone throughout your work? Is your work formal, focused,
developed and clear?

Have you checked that the referencing in your assignment is in line with your programme
requirements?

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font size, colour, style, line spacing and margins as the tutor specified?

Have you kept to the word count (or equivalent)? If you are not sure, check with your tutor.

Can you confirm that the work submitted is your own and maintains academic integrity?

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 There are two assignment criteria grids. The
first one is for Task 1 and
the second is for Task 2.

THE TASK 1 ASSIGNMENT CRITERIA

GRID IS THE 1ST ONE YOU CAN
SEE

5
 0-34 (F) – 35-39 E – 40-49 (D) 50-59 (C) 60-69 (B) 70-79 (A) 80-100 (A+)
Level 5 Fail Marginal fail Pass Pass Pass Pass Pass
Not successful Below required Satisfactory Good Very Good Excellent Outstanding
standard
KNOWLEDGE, The work The work The work The work The work The work The work
UNDERSTANDING demonstrates a demonstrates demonstrates a demonstrates a demonstrates demonstrates demonstrates
AND limited and/or insufficient basic knowledge sound breadth refined highly exceptional
APPLICATION substantially knowledge and and critical and depth of knowledge and accomplished knowledge and
inaccurate or no critical understanding of knowledge and critical knowledge and critical
TASK 1 knowledge and understanding of the well- critical understanding of critical understanding of
critical the well- established understanding of the well- understanding of the well-
30% WEIGHTING understanding of established concepts and the well- established the well- established
FOR THE LAW OF
the well- concepts and theories established concepts and established concepts and
DEMAND
established theories associated with concepts and theories concepts and theories
concepts and associated with the subject and theories associated with theories associated with
30% WEIGHTING
FOR THE LAW OF theories of the the subject and of the way in associated with the subject area associated with the subject area
SUPPLY subject and of of the way in which they can the subject area and of the way in the subject and and of the way in
the way in which which they can be applied to and of the way in which they can of the way in which they can
they can be be applied to FamilyDollar which they can be applied to which they can be applied to
applied to FamilyDollar Groceries. Wider be applied to FamilyDollar be applied to FamilyDollar
FamilyDollar Groceries. There reading is Family Dollar Groceries. Wider FamilyDollar Groceries.
Groceries. There is limited relevant but Groceris. Wider reading shows a Groceries. Application of
is little or no evidence of wider largely restricted reading is largely range of sources Application of extensive
evidence of reading and/or to core texts and limited to core being used and wider independent
wider reading wider reading only partially texts but has applied, some of independent reading is
lacks relevance integrated. clearly enhanced which are reading is evident
the work. independently fully evident throughout the
selected. in the work. work.

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 ASSESSMENT CRITERIA GRID TASK
TWO

0-34 (F) – 35-39 E – 40-49 (D) 50-59 (C) 60-69 (B) 70-79 (A) 80-100 (A+)
Level 5 Fail Marginal fail Pass Pass Pass Pass Pass
Not successful Below required Satisfactory Good Very Good Excellent Outstanding
standard
ANALYSIS AND The work The work The work The work The work The work The work
CRITICALITY demonstrates a demonstrates an demonstrates a demonstrates a demonstrates a demonstrates a demonstrates an
limited or no insufficient ability sufficient ability well-developed sophisticated highly exceptionally
TASK 2 ability to to compare and to compare and ability to ability to accomplished accomplished
compare and contrast four contrast four compare and compare and ability to ability to
30% WEIGHTING contrast four emerging emerging contrast four contrast four compare and compare and
emerging theories/models theories/models emerging emerging contrast four contrast four
theories/models of contemporary of contemporary theories/models theories/models emerging emerging
Select two (2) of contemporary economics, economics, of contemporary of contemporary theories/models theories/models
emerging theories economics, recognising recognising economics, economics, of contemporary of contemporary
or models of 21st recognising competing competing recognising recognising economics, economics,
century competing perspectives, and perspectives, competing competing recognising recognising
contemporary perspectives, and little or no and some perspectives, and perspectives, and competing competing
economics of your little or no consideration of consideration of appropriate appropriate perspectives, and perspectives, and
choice and two 20th consideration of modern business modern business consideration of consideration of appropriate appropriate
century theories or modern business practices. A practices. Use of modern business modern business consideration of consideration of
models of your practices. Little limited range of a sufficient range practices. Ideas practices. Ideas modern business modern business
choice. or no use of relevant and of relevant and are incorporated are incorporated practices. Ideas practices. Ideas
relevant and appropriate appropriate to devise and to devise and are incorporated are incorporated
You are to appropriate sources sources sustain sustain to devise and to devise and
compare and sources arguments. Use arguments. Use sustain sustain
contrast and of a sound range of a arguments. arguments.

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relate

both to modern of relevant and sophisticated Relevant ideas Relevant ideas

business appropriate range of relevant and arguments and arguments
practices. sources a few of and appropriate are included that are included that
which may be sources some of are beyond what are beyond what
independently which are has been taught. has been taught.
selected independently The answer The answer
selected demonstrates demonstrates
the ability to the ability to
convincingly devise and
identify, analyse sustain
and arguments in
communicate unfamiliar
theories and contexts with an
concepts with a exceptionally
highly refined refined
recognition of all recognition of all
relevant relevant
competing competing
perspectives. perspectives.
Use of a highly Use of an
accomplished exceptional
range of relevant range of relevant
and appropriate and appropriate
sources many of sources many of
which are which are
independently independently
selected selected.

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TRANSFERABLE Work Work Work Work Work Work Work
SKILLS demonstrates demonstrates an demonstrates a demonstrates a demonstrates a demonstrates a demonstrates an
limited or no insufficient ability sufficient ability consistent and highly proficient highly exceptional
TASK 2 ability to: - to: - to: - confident ability ability to: - accomplished ability to: -
communicate communicate communicate to: - communicate ability to: - communicate
10% WEIGHTING information, information, information, communicate information, communicate information,
ideas, accurately ideas, accurately ideas, accurately information, ideas, accurately information, ideas accurately
and reliably and reliably and reliably ideas, accurately and reliably ideas, accurately and reliably

General utilising relevant utilising relevant utilising relevant and reliably utilising and and reliably utilising written
coherence of the written written written utilising written written utilising relevant communication
assignment, communication communication communication communication communication written skills in a
introduction, skills skills skills specified skills effectively skills effectively communication manner fit for a
presentation, successfully successfully skills in a range of
conclusion and manner fit for a situations and
referencing. range of audiences
situations and
audiences