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BM533 Contemporary Economic Analysis

BM533  Contemporary Economic Analysis

Assignment task

TASK 1 – 60% (1500 words)


Critically analysed the following micro economics concepts with reference to any retail business of your choice.


1.1 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).  30 marks


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).     30 marks


TASK 2 – 40% (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.      30 marks


  • General coherence of the assignment, introduction, presentation, conclusion and referencing.                                                                                      10 marks






Assessment Criteria:


Task 1.1:  30%


Task 1.2:  30%


Task 2.0:  30%



Structure .................................... 10 marks



Total ............................................ 100 marks






LO 1

Critically evaluate the alternative theories of economics and their implications for business, including traditional economic approaches and also more contemporary approaches relating to behavioural economics.


LO 2

Critically assess concepts and principles underlining business activity.

LO 3

Apply the appropriate models and techniques for analysing the environment within which business organisations operate.


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