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TECO 401/602 Assignment guidelines

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TECO 401/602 Assignment guidelines

 TECO 401/602 Assignment guidelines 

 Length: Maximum 2,000 words 

Assignment consists of two questions (worth 15 marks each). Sources used in your  answer should be fully referenced according to the Top Education referencing style. 

Communicate your ideas with correct grammar, spelling and writing style and  support your answers with diagrams as necessary. 

Question 1 (15 marks) 

Use the economics or other literature (but not the textbook) to identify estimates of  the price elasticity of demand for at least three different products or services. The  estimates must be from three different articles with a publication date of 2017, 2018  or 2019. Provide complete references for the sources that you have used. Comment  on the magnitudes of these estimates in relation to the standard economic  determinants of the price elasticity of demand. 

Question 2 (15 marks) 

Identify from media, industry, research or government reports on Australian industry,  an example of an organisation that has significant monopoly power. Why does this  organisation has monopoly power? Describe how and whether the organisation  benefits from this monopoly power. For your example, explain how, why and which  consumers lose if monopoly power is exercised. Explain how government  intervention is used, or may be used, to curb this power if it exercised. 

Marking criteria and standards 

Your mark will be the based on your responses according to applying the following  marking guide.

Table 1. Marking criteria and standards 

Criteria HD 85%-100% 

DI 

75%-84% 

CR 

65%-74% 

PS 

50%-64% 

FL 

< 50% 

Work applies principles of  economics correctly to  realistic situations. 

Use diagrams in your  answers to provide a more  comprehensive response. 

Work applies principles of  economics correctly in  discussing results,  

conclusions, and/or  

recommendations. 

Applies correct economic  principles, analysis is  

substantiated with workings,  and calculations in order to  arrive at the right answer.  There are negligible  

errors/no errors in  

calculations. 

Diagrams created by  

students are correctly and  precisely labelled, relevant to  the specific question, and  used appropriately to  

demonstrate their high level  understanding of all key  economic concepts and  principles. 

Principles are applied in the  appropriate manner to arrive  at the correct answer.  

Written work shows analysis  in order to interpret and  make highly complex 

recommendations relating to  economic principles covered  in this subject. 

Applies correct economic  principles, description is  substantiated with workings,  and calculations in order to  arrive at the right answer.  There are negligible  

errors/no errors in  

calculations. 

Diagrams created by  

students are correctly and  clearly labelled, relate to the  specific questions and  demonstrate a clear  

understanding of all key  economic concepts and  principles. 

Principles are applied in the  appropriate manner to arrive  at the correct answer.  Written work attempts to  analyse, and shows the  ability to interpret and make  recommendations to  

economic principles covered  in this subject. 

Applies correct economic  principles, description is  substantiated with  

workings, and calculations  in order to arrive at the  right answer. There are  minor errors in  

calculations. 

Diagrams created by  students are correct with  an attempt at labeling that  maybe unclear/incorrect,  and demonsTrate an  

understanding of most of  the key economic concepts  and principles required in  this task. 

Principles are applied in  the appropriate manner to  arrive at the correct  

answer. Written work  shows the ability to  

interpret and make some  key recommendations to  economic principles  

covered in this subject. 

Applies correct economic  principles, shows workings and  calculations but contains some  errors. 

Diagrams created by students  are mostly correct with an  attempt at labeling, are  

relevant to the specific  

question, and demonstrate  some understanding of basic  economic concepts and  principles. 

Discussion reflects basic  understanding of relevant  principles. Some inclusion of  relevant recommendations. 

Applies limited or no  understanding of relevant  principles. Working and  calculations are either not  shown or contain major  errors. 

No diagrams provided or  they are incorrect, poorly  labelled or irrelevant to the  specific question. The  diagram fails to  

demonstrate the students  understanding of economic  concepts and principles. 

Principles are not applied  appropriately, correct  answer is not provided.  Written work does not  make suitable/relevant  recommendations to  economic principles  

covered in this subject. 

Information, spelling,  

grammar and written  

expression is set out in a  coherent manner, with  professional presentation.  Appropriate use of font,  formatting, diagrams etc.,  where relevant. Referencing  should follow appropriate style. 

Pass 

Sustained, consistent and logical presentation of work. Accurate spelling and grammar, excellent written expression and syntax. Appropriate referencing of articles and web-sites. 

Structure of work does not  demonstrate a consistent  and logical presentation  format. Inaccurate spelling  anduse of grammar,  inconsistent written  

expression. Incomplete or  inaccurate referencing.

Presentation 

The following points are a general guide for presenting assessment items. 

• Responses to assessment items should be typed. Use 1.5 spacing. • Use a wide left margin. Markers need space to be able to include their  comments. Use a standard 12pt font such as Times New Roman, Calibri or Arial. • Left- justify body text. 

• Include a separate title page with your name, student number, subject code • Use a header or footer with your name and student number on each page. • Always keep a copy of your assessments. Both a hard copy and an electronic  copy. 

• Most importantly, always use your spelling and grammar checker, but  remember that this does not pick up all errors. You must still manually and carefully  edit your work. 

• You need to appropriately reference all the articles, reports and web-sites you  employ in developing your assignments.  

 Requirements 

This assignment must be submitted through Turnitin. 

It is recommended that your name, student ID and page number are included in  the header or footer of every page of the assignment. 

Further details about submission in Turnitin are provided in On-line submission.

 

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