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MB113 Economics Wentworth Institute

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Economics (MB113)

Assessment 1: Reflective Journal

Students are required to collect 10 articles from reputable sources (peered review journal articles, newspaper articles etc.) and to write a reflection of
approximately 350 words on each article and relate it back to the information learnt in class..

MB113 Economics Wentworth Institute
MB113 Economics Wentworth Institute

Assessment 1: Reflective Journal
The following reflective writing tasks is a way of asking students to critically evaluate and make connections between the theories and practice you are engaging with in this unit and can guide you to become more aware of your personal thoughts about your life experiences in relation to those theories. There are parts, Part 1 is due in week 6 and part 2 is due in week 12.
Reflective writing is not just a description or summary of something that you have observed. Instead, reflective writing requires you to describe, analyse and evaluate.
SLO A: Explain and apply the core principles of demand and supply theory to make a range of market related decisions and analyse the significant differences in business applications.
SLO B: Critically evaluate market competition and market failures and the main factors shaping the decisions of consumers and businesses.
SLO C: Compare and contrast the different market structures and their application on pricing of products and services
SLO D: Evaluate the appropriate economic tools used in developing models of the economy and economic policy
SLO F: Interpret and critically evaluate economic commentary in the media and to communicate economic analysis in writing with greater effectiveness

Assessment 2: Individual Assignment

The report aims to help you develop your research, analytical, and professional writing skills. Good writing skills are one of the most important graduate attributes sought after by leading employers. You will
be required to research and analyse a market to determine the level of concentration, the type of market structure and make recommendations. The information will be presented in report form.

Assessment 2: Group Assignment
The report aims to help you develop student’s research, analytical, and professional writing skills.
Good writing skills are one of the most important graduate attributes sought after by leading employers. You will need to become adept at finding relevant resources. You are expected to apply or make use of economic concepts/ theories/ models that you have learned in class to the topic you are writing the essay on, and write an essay in a succinct and professional manner as would professional economists, columnists, or advisors.
Due date: Week 11
SLO A: Explain and apply the core principles of demand and supply theory to make a range of market related decisions and analyse the significant differences in business applications.
SLO B: Critically evaluate market competition and market failures and the main factors shaping the decisions of consumers and businesses.
SLO C: Compare and contrast the different market structures and their application on pricing of products and services
SLO F: Interpret and critically evaluate economic commentary in the media and to communicate economic analysis in writing with greater effectiveness