Managerial Economics

1 BUS020N515A: Managerial Economics Assessment 2019/20 Academic year and term: Semester One 2019/20 Module title: Managerial Economics Module code: BUS020N515A Module Convener: Dr Mamata Parhi Learning outcomes assessed within this piece of work as agreed at the programme level meeting 1. Knowledge outcome – You will be able to develop your capacity to analyse the economic environments in which business entities operate and how managerial decisions can vary under different constraints 2. Intellectual /transferrable skills outcome – You will be able to consider and apply a complex economic theory to the ‘real world’ behaviour of firms Type of assessment: Formative: 1 page plan / Mini-quizzes in Seminar Summative: In-class test (40%); Individual Coursework (60%)-Essay (2500 word limit) Assessment deadline: Formative Plan: 1 st November, 2019 Summative (In-class Test): 10 am, 9th December, 2019 Summative ( Individual Coursework): 2pm on Wednesday, 10thth January 2020 Assessment Part 1: In-class Test (This component accounts for 40% of total module marks) Date of In-class test: 10am,9th of December, 2019 2 This part of assessment will be through an in-class Multiple Choice Questions (1 hour) test. This will take place in Week 12 (9th of December at 10am- Venue to be confirmed). This will be an online computer based test to be done in-class under exam conditions. The test will consist of 20 MCQs with each question carrying 2 marks. The total marks for the test is 40 marks (and has 40 % weight in the overall grade in the module). The format of the questions will follow the pattern covered in seminars. Assessment Part 2: Individual Coursework (This component accounts for 60% of total module marks) Deadline for handing in the Assignment: 2pm,10 th of January, 2020 Instructions for assessment Answer ANY ONE of the following two questions (Both questions carry equal weightings) Question 1: “The extent to which firms vertically integrate is determined by the trade-off between technical and agency efficiency”. Evaluate this statement with reference to the relevant theory and empirical examples. (Word limit: 2500 words) OR Question 2: Discuss how the principal- agent relation is linked to the issue of Moral hazard? Using a suitable empirical context, assess the severity of the problem and briefly suggest possible solutions to the problem/s you have identified. (Word limit: 2500 words) The maximum length of the assignment should be 2,500 words ((+/- 10 %,), excluding appendices and bibliography. Important information regarding the preparation of your work 1. In completing this task, be sure to draw on the concepts and analytical tools you have learnt about during the module, making direct reference to subject materials (i.e. the prescribed text, courseware and other resources). Students who fail to comply with this directive will find it difficult to receive a pass mark. 2. High marks will be awarded for good, critical analysis, rather than for content merely stitched together from websites and other sources. In particular, the following assessment criteria and weightings will apply: 3  Subject Knowledge: Assignment demonstrates student has understood key topics (35%)  Quality/Scope of Literature Review: Understanding of established knowledge; Use of suitable sources focused to answer key questions (25%)  Analysis: Quality/level of analytical skill demonstrated in discussing key points (15%)  Application and Insightfulness of Analysis: Use of appropriate examples, Relevance and Usefulness of findings, Conclusions drawn (15%).  Assignment Structure, Presentation, and Quality of Writing: clarity of aims, objective, structure and presentation, Readability and ability to convey key messages concisely, correct referencing (10%) How will we support you with your assessment?  The formative assignment will consist of a short plan (max A4 size page) outlining the key concepts/theory and the case example. You will receive formative feedback in Week 9-10. This will take the form of comments on a one page plan that is submitted via Moodle on part 1 of the assignment. This plan should be submitted by Week 8. Plans that are submitted after the deadline will not receive any feedback.  There will be an assessment briefing in Week 1. How will your work be assessed? Your work will be assessed by a subject expert who will use the marking grid provided in this assessment brief. The scripts are also moderated internally and externally complying with the University marking guidelines. When you access your marked work it is important that you reflect on the feedback so that you can use it to improve future assignments. Referencing You MUST use the Harvard System. The Harvard system is very easy to use once you become familiar with it. The guidelines are available at http:\\libguides.roehampton.ac.uk/ld.php?content_id=29257391. Assignment submissions The Business School requires a digital version of all assignment submissions. These must be submitted via Turnitin on the module’s Moodle site. They must be submitted as a Word file (not as a pdf) and must not include scanned in text or text boxes. They must be submitted 4 by 2pm on the given date. For further general details on coursework preparation refer to the online information via StudentZone http://studentzone.roehampton.ac.uk/howtostudy/index.html. Mitigating circumstances/what to do if you cannot submit a piece of work The University Mitigating Circumstances Policy can be found on the University website – Mitigating Circumstances Policy Marking and feedback process Between you handing in your work and then receiving your feedback and marks within 20 days, there are a number of quality assurance processes that we go through to ensure that students receive marks which reflects their work. A brief summary is provided below.  Step One – The module and marking team meet to agree standards, expectations and how feedback will be provided.  Step Two – A subject expert will mark your work using the criteria provided in the assessment brief.  Step Three – A moderation meeting takes place where all members of the teaching and marking team will review the marking of others to confirm whether they agree with the mark and feedback  Step Four – Work at Levels 5 and 6 then goes to an external examiner who will review a sample of work to confirm that the marking between different staff is consistent and fair  Step Five – Your mark and feedback is processed by the office and made available to you. 5 Marking Rubric (Guiding Criteria) for Assessing Summative Essays Outstanding 100 Excellent (80-89) 85 Very Good (70-79) 75 Good (60-69) 65 Satisfactory (50-59) 55 Adequate (40-49) 45 Marginal Fail (30-39) 35 Fail (20-29) 25 Not done 0 Criterion 1 SUB knowledge (35%): Understandin g of established knowledge “Exceptional knowledge and understanding of material, main concepts/theori es at this level. Awareness of the limitation of their knowledge, and how this influences any analyses and interpretations based on that knowledge”. Contains all information required, with no errors. Evidence of study beyond the module content. Demonstrat es superb understandi ng of topic within a wider context. Contains all information required, with no major errors and no or very few minor errors. Demonstrate s substantial understandin g of topic within a wider context. Contains all or almost all information required, with no major errors and only a few minor errors. Demonstrates some understandin g of topic within a wider context. Contains most information required, with no or very few major errors and some minor errors. Demonstrates modest but incomplete understanding of topic and its context. Contains basic (core) information required, with some major and minor errors. Demonstrates limited understanding of topic and its context. Contains only a limited amount of information required, with numerous major and minor errors. Demonstrates little understanding of topic and its context. Contains none or almost none of information required and with many major and minor errors. Demonstrates no understanding of topic and its context. Missing. Wholly incorrect or not attempted. Criterion 2 Quality and Scope of Literature Review (25%): Use of suitable sources, focused to answer the key questions “Exceptional account of the relevant literature and concepts have been provided”. An excellent account of the relevant literature, and concepts have been provided. A near flawless account of the relevant literature, and concepts have been provided. A large amount of relevant literature, and concepts have been provided. A reasonable amount of relevant literature, and concepts have been provided. Some useful and relevant literature and concepts have been provided. Only a small amount of relevant literature, and concepts have been provided. Little useful or relevant literature and concepts have been provided. Missing. Wholly incorrect or not attempted. Criterion 3 Analysis (15 %) : Quality of analytical skill demonstrated “Exceptional demonstration of logically and coherently presentation of ideas and use of analytical/ diagrammatical exposition. Ideas expressed logically and coherently. Excellent use of appropriate analytical / diagrammati c Ideas expressed logically and coherently. Effective use of appropriate analytical / diagrammatic exposition. Ideas generally expressed logically and coherently. Competent use of appropriate analytical / diagrammatic Ideas not always expressed logically and coherently. Adequate use of appropriate analytical / diagrammatic exposition. Ideas rarely expressed logically and coherently. Limited use of appropriate analytical / diagrammatic exposition. Ideas rarely expressed logically and coherently. Little or no use of appropriate analytical / diagrammatic exposition. Ideas expressed incoherently. No linking of ideas within text. Little or no use of appropriate analytical / diagrammatic exposition. Missing. Wholly incorrect or not attempted. 6 exposition. exposition. Criterion 4 Application (15%): Use of appropriate examples, conclusions drawn Exceptional adaptation and application of concepts to appropriate examples and conclusions drawn compared to the literature. Excellent adaptation and application of concepts. No irrelevant material. Very good adaptation and application of concepts. Little or no irrelevant material. Good adaptation and application of concepts. Some irrelevant material. Limited adaptation and application of concepts. Some irrelevant material. No adaptation or application of concepts. Some irrelevant material. No adaptation or application of concepts. Much irrelevant material. No adaptation or application of concepts. Largely irrelevant material. Missing. Wholly incorrect or not attempted. Criterion 5 Structure and Presentation (10%): Readability and ability to convey key message(s) concisely; Correct referencing. “Exceptional integration of ideas and information. Outstanding formatting and presentation throughout the assignment. Outstanding criticality of argument and referencing throughout. Excellent integration of ideas and information. Outstanding formatting and presentation throughout the assignment. Outstanding referencing throughout. Effective integration of ideas and information. Excellent formatting and presentation throughout the assignment. Excellent referencing throughout. Competent integration of ideas and information. Good formatting and presentation throughout the assignment. Good referencing throughout. Limited integration of ideas and information. Adequate formatting and presentation throughout the assignment. Referencing contains some omissions and inconsistencie s. Minimal integration of ideas and information. Adequate formatting and presentation throughout the assignment. Referencing contains many omissions and inconsistencies. No integration of ideas and information. Poor formatting and presentation throughout. Referencing is limited No integration of ideas and information. Very poor formatting and presentation throughout. Referencing is extremely limited Missing. Wholly incorrect or not attempted. 7 RESIT / DEFERRAL Assessment: RESIT/ DEFERRAL assessments will mirror those of the main assessment and will have two similar components (in-class test and a coursework). The date of the in-class test (RESIT/ DEFERRAL) will be announced in due course. Resit Coursework: Submission Date- April, 2020 (TBC) For students who are offered a resit you are required to improve and resubmit your original work as well as adding a further reflective commentary discussing what you have learned from the process. You must resubmit your work using the specific resit Turnitin link on Moodle. You should: 1.Review your previously submitted work and read carefully the feedback given by the marker. 2. Use this feedback to help you revisit and rewrite your work, improving it in the areas identified as weak in the original marking process 3. Include with your resubmission an additional reflective piece (up to 500 words) on what you understand was weak, how you set about addressing this and what you have learned from this that may help you with further assignments. You should address the following specifically: i) Identify tutor feedback points on your original work and identify where/how the resit work has changed (give page number) in response to feedback ii) Identify the lessons you have learnt from doing the resit. iii) Reflect on how your feedback and this process will help you improve future assignments The original marking criteria will still apply (see rubric above) except that the 10% weighting for presentation will be awarded instead to your reflective piece. If you did not submit work at the first opportunity you cannot reflect on your feedback. However, you are still required to submit a reflective piece in which you identify your reasons for non-submission, the implications of non-submission for your future success and how you propose to address this in the future. If you have issues with confidentiality of your reasons for non-submission then you could reflect on how you have met the learning outcomes for the module, how you can use what you have done on the module to support your future career and what skills/employability attributes you feel the module has helped you to develop. If you were deferred at the first assessment opportunity you do not need to include the reflective piece as this is a first submission at a later date, not a resit. You will be submitting your work to be marked separately in a dedicated turnitin submission box. Your work will be marked against the marking criteria set out in the original assessment brief.

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