Contemporary Business Economics – Essay Furious


BM533 Contemporary Business Economics

Deadline: 2.00 pm, 13th of January 2022

Assessment Guidelines

Word Count: 2500 (+-10%)

General Instructions:

Font: Arial with 1.5 line spacing

Font size: 12

Font colour: Black only

Headings: Size 14, Bold and underlined

Sub-headings: size 12 and Bold.

Guidelines

The final assignment should contain the following:

  • Title page: should include (module name, module code, BUCKS ID, word count, lecturer name)
  • Table of contents (professionally laid out)

INTRODUCTION

A brief presentation of the topics described in Tasks 1 and 2

Task 1 (1500 words)

  1. Explain the law of Demand, movement along the same demand curve (with the aid of diagram) and changes in demand curve with its factors (with the aid of diagram).
  • You need to explain the Law of Demand (define and describe).
  • You need to explain what factor causes movement along the Demand curve with the aid of diagram.
  • You need to explain what factors (at least 3) shift the Demand curve to a new position with the aid of diagram.

You need to use diagrams to illustrate the changes in the demand curve, both movement along the curve and shift of the curve (see an example in the next page).

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

  • You need to explain the Law of Supply (define and describe).
  • You need to explain what factor causes movement along the Supply curve with the aid of diagram.
  • You need to explain what factors (at least 3) shift the Supply curve to a new position with the aid of diagram.

You need to use diagrams to illustrate the changes in the supply curve, both movement along the curve and shift of the curve (see an example below).

For 1.1 and 1.2, you can choose any UK business e.g. Tesco, Netflix, PepsiCo, British Airways, or any product from the commodity market e.g. coffee, dairy items, cinema tickets, or any market, e.g. the housing market, stock market etc.

Task 2 (1000 words)

Compare and contrast emerging theories and models in 21st century contemporary economics with those of the 20th century and relate both of these to modern business practices.

  • You need to analyse the macroeconomic issues.
  • Explain what behavioural economics is (it is how to be rational).

Support your argument by literature, for example explain Nudge theory.

  • Analyse critically the issues raised surrounding macroeconomic theory.

CONCLUSION

Summary of the main points, evaluation

REFERENCES

At least 10

Grade breakdown

  • Task 1.1 Demand 30%
  • Task 1.2 Supply 30%
  • Task 2 30%
  • General coherence of the assignment, introduction, presentation, conclusion and referencing. 10%
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