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BSc Undergraduate Programmes
Coursework Assessment Brief
Submission deadline: 11.59 PM on 20th December 2016
Submission mode: Turnitin online access
BPP University Business School: September 2016
1. General Assessment Guidance
xYour summative assessment for Business Economics is a Coursework submission.
xThe deadline for submission is 11.59 PM on 20th December 2016
xYou are required to submit your assessment via Turnitin online access. Only submissions made via the specified mode will be accepted and hard copies or any other digital form of submissions (like via email or pen drive etc.) will not be accepted.
xFor coursework, the submission word limit is 1,500 words. You must comply with the word count guidelines. You may submit LESS than 1500 words but not more. Tables, diagrams, bibliography, appendices, annex and headings are NOT included within word count calculations. You must specify total word count on the front page of your report.
xFor coursework, please use font size 12 for body text and the typeface (font) should be Arialor Times New Roman with minimum 1.5 spacing.
xFor headers and titles, please use font size 14. Your submission must have standard margins and page numbers.
xPlease use English (UK) as your language in the submission.
xDo not put your name or contact details anywhere on your submission. You should only putyour student identification number (SRN) which will ensure your submission is recognised in the marking process.
xA total of 100 marks are available for this module assessment and you are required to achieve minimum 40% to pass this module.
xYou are required to use only Harvard Referencing System in your submission. Any content which is already published by other author(s) and is not referenced will be considered as a case of plagiarism.
You can find further information on Harvard Referencing in the online library on the VLE. You can use the following link to access this information:
xBPP University has a strict policy regarding plagiarism and in proven instances of plagiarism or collusion, severe punishment will be imposed on offenders. You are advised to read the rules and regulations regarding plagiarism and collusion in the GAR and MOPP which are available on VLE in the Academic registry section.
xYou should include a completed copy of the Assignment Cover sheet. Any submission without this completed Assignment Cover sheet will be considered invalid and not marked.
2. Assessment Brief
2.1. Case Study
The case study is based around the fictional company UK Steel PLC. You are applying for a job at this business. You have been asked the following questions. You will be using your Economics knowledge to help the business make business decisions.
There are 5 questions in the case study that cover the 9 weeks content of the module. All the questions must be answered.
2.3. Assessment Submission Structure
The coursework should be written as a report. The assessment needs a brief introduction and then to fully answer the 5 questions. The coursework needs to be referenced using Harvard referencing.
2.4. Assessment Marking Scheme (Student Version)
The assignment is marked out of 100. The following table shows the mark allocation and the approach required.
Assessment Marking Scheme (For Markers)
The assignment is marked out of 100. The table accompanying this document shows the mark allocation and the approach required.
Business Economics – Coursework December 2016
You are applying for a graduate trainee position at UK Steel PLC. As part of the selection process you have been asked a series of questions to demonstrate your understanding of economics and the economic environment for UK Steel PLC.
UK Steel PLC is the largest steel producer in the UK. It exports 50% of its steel internationally and 50% is sold in the UK market. Its major international market is the EU.
To produce steel UK Steel PLC uses large quantities of iron ore. It also uses large quantities of oil to power is factories.
Historically UK Steel dominated the UK steel market, but now there are many international competitors.
THE UK STEEL MARKET- MARKET SHARE
UK Steel PLC
a)Describe the key differences and similarities between a Private Limited Company (LTD) and a Publicly Limited Company (PLC)? (6 marks)
b)Explain what the ‘agency problem’ is, and why PLCs often suffer from this more than LTDs. (6 marks)
c)UK Steel PLC used to be a nationalised business but was privatised in the 1980s. Explain two negatives and two positives of being a privately owned business. Do you think this is the best type of ownership for UK Steel PLC? Explain your reasons. (8 marks)
a)UK Steel PLC wants to increase production at one of its factories in South Wales. In the short term they cannot increase the size of the factory but they can increase their variable input of labour. Explain why this may initially work but will eventually lead to ‘diminishing returns’. (6 marks)
b)Describe two ways UK Steel PLC might suffer from diseconomies of scale. (6 marks)
c)What type of market structure does UK Steel PLC operate in the UK? Explain if this type of market structure is advantageous for consumers and UK Steel PLC. (8 marks)
a)In recent years there has been a significant increase in Asian steel in the UK market. Using a supply and demand diagram show how this will impact the price and quantity of steel in the UK market. Fully label your diagram. (6 marks)
b)The government has announced several large scale infrastructure projects including Hinkely Point and HS2. On a supply and demand diagram show the impact of this change on price and quantity of steel in the UK market. Again fully label your diagram. (6 marks)
c)Specifically referring to the steel market describe 4 other reasons for a shift in supply. (8 marks)
a)List three government macroeconomic policies and explain what the government wants to achieve with these policies. (6 marks)
b)Which stage in the business cycle often has high inflation? (2 marks)
c)Explain how a demand side macroeconomic policy can be used to reduce inflation. How will this effect UK Steel PLC? (12 marks)
a)Explain the aims of one international economic organisation. How will this impact upon UK Steel PLC? (5 marks)
b)Using a diagram explain the changes in a global market used by UK Steel PLC over the last 3 years. Use either the global oil market, the global iron ore market or a currency market. How have these markets changed and what caused the changes? What is the impact of this change for UK Steel PLC? (10 marks)
The coursework will also be marked on its presentation. This will include a brief introduction, accurate spelling, grammar and the appropriate language used. (5 marks)