ECO511 Economics for Business Assignment Help
Task
Assignment 2 consists of one essay
question (worth 30 marks) based on text material. Before attempting this
assignment you are expected to have read Text chapters 1 to 10. You are
encouraged to make use of additional sources. Sources used in your answer
should be fully referenced in APA 6th style.
Answer the following question
ensuring that you apply economic principles or theory related to the concepts
of benefits, costs and market structure in which a firm operates to inform your
analysis and support your decisions. Communicate your ideas with correct
grammar, spelling and writing style and support your answer with diagrams and
illustrative examples as necessary.
Question (30 marks)
Explain, providing appropriate
examples, why car manufacturers are constantly introducing new models.
Rationale
This assignment provides an
opportunity for you to present a detailed analysis of the operation of firms in
a particular market context through the application of your knowledge of theory
supported by evidence drawn from sources of your choosing.
The question addresses the following
learning outcomes:
Learning Outcome 3: be able to make
decisions that incorporate the relevant benefits and cost analysis.
Learning Outcome 4: be able to
explain and defend why it is important to understand the structure of the
market in which a firm operates.
Presentation
Answers should be typed and diagrams
must be clear and neat and preferably drawn electronically. Hand-drawn diagrams
are acceptable. Sources used in your answer should be fully referenced in APA
6th style. The answer to the question should be divided into three parts:
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Email:
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Part
1: Introduction
The introduction sets up your
response by succinctly stating your understanding of the issues, what you think
is the best way to analyse the situation – including choice of theory and
sources of evidence, what type of findings you expect and what potential
applications you expect there to be.
Part 2: Analysis
The analysis will represent the bulk
of your work. Here you will provide your answer in detail by drawing upon the
literature, the theory and the evidence to come up with an answer to the
question posed. You may find that you want to break this section up into a
number of sub-parts – one for a detailed discussion of the issues including
your non-technical response, one for a detailed analysis of the tools of
analysis you will use (theory), one for your extensive consideration of the
evidence, one where you draw together your information and findings along with
their implications.
Part 3: Conclusion
In the conclusion you briefly and
succinctly review what you have done in answer to the question and indicate
what further issues there might be to be considered.
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