Unit title & code Introduction to Economics, AAF010-1
Assignment number and title Assessment 2 – Individual Assignment
Assignment type WR-I
Weighting of assignment 80%
Size or length of assessment 2,000
Unit learning outcomes: 1- Demonstrate the following knowledge and understanding.
a.Outline and discuss both main pillars of Economic Science; Microeconomics and Macroeconomics and display an understanding of how the theoretical foundations of Economics relate to current actual events and policies.
2.Demonstrate the following skills and abilities
Identify market equilibria at the micro economic level for both perfectly and imperfectly competitive markets and differentiate between the different approaches in explaining current economic problems at all levels including the evaluation of economic aggregates and the relationships between them.
AAF010-1 Introduction to Economics Assignment-Bedfordshire University UK.
What am I required to do in this assignment?
The COVID-19 pandemic has forced economic activity to a standstill in many sectors. Millions of jobs have been lost as industries with no customers laid off workers or were forced to close their doors and send employees home. Because of these facts most experts believe the UK economy is definitely in a recession but differ on how long the economic impact will last.
You are required to produce an economic essay of 2,000 (plus/minus 10%) words to explain how the Covid-19 pandemic could possibly affect the UK economy. You are required to use different concepts covered throughout the module (e.g. circular flow of income,unemployment and recession) in your discussion. Moreover, you should use graphs and diagrams to support your explanations.
What do I need to do to pass? (Threshold Expectations from UIF)
In order to pass Assessment 2 you will need to:
1.Explain the different measures of economic activity, particularly of how a nation’s income and cost of living are measured.
2.Relate the elements of the theory to every day actual events and explain how economic policies intend to tackle potential problems
3.Explain a given topic in both macroeconomics by using a clear and concise argument, based on logic and the underlying theory.
4.Collect and present economic data in the process of assessing a country’s economic performance.
AAF010-1 Introduction to Economics Assignment-Bedfordshire University UK.
How do I produce high quality work that merits a good grade?
This section should be filled out with students in class to build this engagement with the knowledge, understanding, skills and abilities they may need to be demonstrating throughout their assignment. Some points to be discussed with students in order to produce high quality essay students, need to demonstrate their ability:
- to understand the precise task set by the title
- to identify, appropriate material to read
- to understand and evaluate that material
- to select the most relevant material to refer to in their essay
- to construct an effective argument
- to arrive at a well-supported conclusion
AAF010-1 Introduction to Economics Assignment-Bedfordshire University UK.
How does this assignment relate to what we are doing in scheduled sessions?
The assignment offers you the opportunity to further practice what you learn in the sessions, particularly, the material and class activities covered in week 7, 9 and 10 about macroeconomic policies and data, business cycle, unemployment, recession and inflation. (Please see study guide on BREO).
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