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 21^st century contemporary economics with those of the 20^th 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.