Category | Assignment | Subject | Economics |
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University | University of Portsmouth | Module Title | U0906PYC, U2892PYC Economics |
Assessment Type | Coursework |
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You are required to answer any three of the following four questions. All questions are equally weighted.
Q1. UK business activity expanded more than expected in February 2024 fuelling hopes that Britain’s recession could already be over, according to a closely watched survey.
Explain the key features of the aggregate demand and aggregate supply model. Using the model examine the impact of an increase in the short run aggregate supply curve on total output and the aggregate price level in the short run and the long run. Briefly discuss the extent to which the recent increase in UK output in February 2024 is likely to persist over the next twelve months.
Q2. Thames Water is lobbying the government and industry regulator Ofwat to let it increase bills, pay dividends and face lower fines as it seeks to avoid a potential multibillion-pound taxpayer bailout. Britain’s largest water monopoly is trying to avoid being taken over under the government’s special administration regime, which could leave taxpayers on the hook and undermine confidence in the privatised water industry.
Briefly explain the model of monopoly. Provide an economic rationale for a water industry regulator in the UK. Demonstrate why Thames Water, Britain’s largest water monopoly, is facing a significant loss. Briefly discuss the extent to which Thames Water is likely to collapse over the next twelve months.
Q3. England needs as many as half a million new homes a year to keep up with the country’s rising population, according to a Financial Times analysis — far more than either the Conservatives or Labour have pledged to deliver.
Explain the model of supply and demand. Use the model to demonstrate how the above-mentioned housing supply shortage may affect house prices in England. Briefly discuss the extent to which planning reform may affect the housing market in England over the next decade.
Q4. A senior Bank of England official on Monday 5th February 2024 said it was a question of when and not if the central bank would start reducing interest rates as a “reward” for continued declines in inflation, as policymakers lay the ground for easing policy this year.
Explain and apply the theory of the market for money to show how expansionary monetary policy may affect key markets and the total output of an economy. Briefly discuss the extent to which the Bank of England is likely to implement an expansionary monetary policy in the UK over the next twelve months.
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% Mark |
Level 4 |
70+ |
As below plus: ● Excellent work that often shows some originality or creativity of insight and approach, is well- articulated and demonstrates a good thorough understanding of the subject matter at an introductory level. ● Shows evidence of considerable research beyond recommended textbooks and the Internet. There may be some attempt to cite references. References and / or bibliography presented according to ● subject convention. ● Well-presented, well-structured, good organisation with few or no errors in grammar, spelling or punctuation. Presentation of diagrams and / or tables follows required format. |
60-69 |
As below plus: ● Very good work which covers the subject matter in a thorough, thoughtful and competent manner with few errors or gaps in content, explanation or accuracy. ● Research with sources presented according to subject convention. ● Well presented, clearly written, few errors in structure, organisation, expression, grammar, spelling, punctuation, and presentation / use of diagrams and / or tables. |
50-59 |
As below plus: ● A solid piece of work covering the basic aspects of the topic. ● Attempt made at research beyond recommended texts with attempt to present / use references / bibliography according to subject convention. ● Generally follows instructions regarding organisation, expression, grammar, spelling, punctuation, and presentation / use of diagrams and / or tables. |
40-49 |
● Adequate descriptive work that attempts to focus on and show basic grasp of the topic. ● Limited research using mainly provided material. Attempts to use and / or present references / bibliography according to convention. ● Limited prose style attempting to follow instructions regarding organisation, expression, grammar, spelling, punctuation, and presentation / use of diagrams and / or tables. |
Threshold statement for use of English |
● Verbal and listening skills are sufficient to enable a student to play an active part in all learning activities at an adequate level for level 4 study. Written skills are sufficient to produce basic documents that have some coherence in structure and argument and include basic citation and referencing. Documents have made use of spelling and grammar checking software. |
|
30-39 |
FAIL – Anything which is inadequate in most or all of the following: length, content, structure, organisation, expression, discussion, explanation, accuracy and relevance. Work in this range attempts to address the question / problem but is substantially incomplete and deficient. Serious problems with a number of aspects of language use are often found in work in this range and the work may be severely under / over-length. |
|
0-29 |
FAIL – No serious attempt to address the question / problem, and / or manifests a serious misunderstanding of the requirements of the assignment. Acutely deficient in all aspects. |
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