Due: Friday, 23 August 2024, 5:00 PM

Note: no submissions including automatically submitted by Moodle will be reverted to the draft after the due date.

This is assessment 2: Research Essay 35 marks

Length 2,500 words

Please note that this question requires substantial research (see the assessment criteria) 

Part One. Case study selection. 12 marks

a. Use the Moodle activity titled "Company name for Assignment 2" to determine the specific company to use for your assignment.

b. Choose any country where the selected company operates.

c. Briefly describe the selected company using 2023-24 data, focusing on its activities within the chosen country.

d. What industry does this company belongs to? This industry in your chosen country is your case study.

e. Using economic theory and 2023-24 data examine some cases of market failure related to your case study.

Part Two. Case study analysis. 12 marks

a. Describe the industry (not the company) in your chosen country in details such as turnover, revenue, output, and employment using 2023-24 data. 

b. Identify the market structure your chosen industry belongs to.

c. Use economic theory to critically evaluate the efficiency of this industry with relation to allocation of resources (use the Perfect Competition as a benchmark). Make sure you use theory from the textbook and apply analysis to your case study using 2023-24 data. 

Part Three. Evaluation of Generative AI (GAI) responses.   8 marks 

a. Use a GAI such as ChatGPT to produce a response for only part 2c of the assignment. You can use any years for Part Three.

b. Copy and paste your instructions and GAI response to the appendix of your assignment. This section does not count towards the word limit.

c. Critically evaluate the GAI response using economic theory and your analysis in part 2c. Assess its adherence to economic principles, accuracy in economic interpretations, coherence in economic reasoning, and relevance to the economic context of the assignment topic, use of relevant data, and application of relevant economic analysis to the case study. 

Add a declaration of using AI in the writing process:

During the preparation of this work, I, [name], used artificial intelligence (AI) specifically [NAME GAI] to complete part c) of this assignment. After utilizing [NAME GAI], I reviewed and edited the content as needed and take full responsibility for the content of my assignment.

Note: Failure to include this declaration may result in a penalty of zero marks.

Describe your examples in sufficient details, provide relevant information, use tables and diagrams where appropriate. Use features of market structures such as number of sellers, type of product, entry conditions, profits and losses in the short and long run, advertising, research and development and appropriate diagrams to answer questions. While your textbook is your first point of reference for the theory, you should consult other references in order to receive full marks. 

Real life examples must be supported by real data and references.  

Additional marks for                                                      (3 marks)

Overall presentation of work, especially use of graphs, clear written expression.   1 mark

Appropriate use of referencing.   2 marks

Assessment criteria

• You must refer to the textbook in the first instance. Besides the textbook, you should also refer to a few other academic books, journal articles and relevant websites in answering these questions. Wikipedia or ChatGPT is not an academic source.
• Use in-text referencing and provide a list of references.
• All submissions for this course must use the American Psychological Association (APA) referencing style.
• Concepts must be defined accurately and completely.
• The assumptions upon which the analysis is based must be stated at the onset.
• Diagrams must be drawn properly, correctly labelled and the relations they depict explained.
• Photocopied and scanned graphs from books, articles or websites are not acceptable.  It is preferable to hand-draw a graph then scan it to insert in your file.
• Answers must be complete, addressing the specific tasks nominated in the questions.
• Remember an extension is not a gift, it is a burden.