Assessment Task Information
Assessment title: Mid-Module Essay
Module Name: Economics
Module Code: FC700
Tutor’s Name: Dr Tolulope Ibukun
Assessment will be set in: Week 3 Cycle 1
Assessment is due in: Sunday 24 th November 2019 before 11:59pm
Assessment weighting: 25%
Assessment Task Instructions:
You are required to write an essay answering one of these questions:
Should government intervene in the UK market for alcoholic beverages? Discuss in detail two
methods of government intervention in this market.
Would a new rent ceiling policy in the UK deliver efficient and fair outcomes in the housing
The aim of this essay is to ascertain the effectiveness and efficiency of the role of government
in solving certain economic problems.
Things to consider: Alcoholic beverages market
• Why would the government intervene in this market? What problems are created for the
society and individuals as a result of the existence of this market? (it is good to provide
evidence to support your points here)
• How can the government intervene in this market to reduce these problems? (Consider
two methods of government intervention appropriate to this market)
• How would these intervention methods/policies benefit this market? (use economic
• What limitations may exist on the ability of each method/policy to influence the market in
the desired way? Economic theory may be relevant here.
• Is there evidence on the impact of interventions in this market?
• Overall, do you think government should intervene in this market? Why or why not?
Things to consider: Housing Market
• What is a rent ceiling and how does it work?
• Why would the government wish to impose a rent ceiling? (evidence about the problems
in the housing market will be useful here)
• What is efficiency and what would be considered an efficient outcome in the housing
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• What would be considered a fair outcome in the housing market?
• What are the benefits of rent ceiling in the housing market? (use economic theory to
• What limitations are associated with rent ceiling?
• Overall, do you think rent ceiling delivers an efficient and fair outcome?
It is expected that you will set out your argument in the introduction, build and present your
argument in the main body and should end with a summary of key points and an overall key
Theory and/or task resources required for the assessment:
The theory of elasticity covered in week 4 cycle 1 can be used to support arguments on
government intervention in the alcoholic beverages market
The theory of efficiency and government interventions in market covered in week 5 cycle 1 can
be used to illustrate government intervention methods and corresponding effects in markets.
You must conduct secondary research for this essay, finding relevant sources independently.
For your chosen question, you are required to use at least SIX sources. These should be
reputable sources (e.g. discussion papers, book chapters, good quality newspaper like the
Economist, Guardian), which have been published in English language.
Your essay should present an in-depth discussion and economic analysis, you must use
diagrams to support your explanations of economic theory.
Assessment reference style:
You must include a reference list at the end of your essay, using GIC referencing guide.
Expected word count:
You are required to write a 1500-word essay, excluding appropriate diagrams and reference
list. You can go above or below this limit by 20%
Learning Outcomes Assessed:
The following learning outcomes are assessed in this task:
1. Define key terms used in the description and analysis of the micro and macro economy
2. Explain how key economic theories, mechanisms and variables function in relation to each
other in an economy
3. Analyse, measure and compare the impact of market mechanisms, policies and government
intervention on consumers, businesses and economies
1. Use Arial or Calibri, size 11-12 and use 1.5 spacing between lines.
2. Each page of your assignment should have a header with your student ID number, module
code (e.g. FC700E) and the name of your class tutor. Do not write your name.
3. All pages should be numbered.
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4. Include a title page consisting of the following information:
Module Code (e.g. FC700)
Class/Group: (e.g. Group A, B)
Module Title (e.g. Economics)
Assessment Title (e.g. Essay)
Assignment Title: (e.g. Add in your Essay Title)
Tutor Name: (name of tutor)
Student GU ID Number: (please add your GU ID number only and NOT
Date of Submission: (date)
You may be penalised according to the GIC Assessment Rules if:
You hand in your assignment later than the stated deadline. You must submit work for
assessment by the stated deadline. If you do not, the following penalties for written work will
(Unless there are valid reasons for the lateness (e.g. illness) and this is supported with an
EEC form and evidence)
Number of Days Late Penalty Awarded
1 85% of original
2 80% of original
3 75% of original
More than 3 Zero mark awarded
Any part of your work is found to have been directly copied from a source (e.g. a book,
another student’s essay, an internet website) without the appropriate referencing convention
Remember that this must be written by you. If the level and sophistication of your
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language is considerably higher than other pieces of written work you have produced, it
will be assumed that you were given unfair assistance and you will either be penalised
for plagiarism or receive no credit for clarity of expression.
Please note that the following examples of collusion are considered as academic
misconduct and, in the absence of hard evidence, you may be asked to attend a meeting
to discuss your understanding of the work. If you do not attend such a meeting, tutors
may use academic judgement to determine whether or not an offence has taken place.
Examples include a situation where a student:
a. intentionally submits as entirely his or her own work, an essay or report written by
b. permits another candidate to copy all or part of their own work, knowing it is to be
submitted as that other candidate's own work;
c. allows another person to re-write large sections of the students’ work.
Submission Deadline and procedure:
Submit an electronic copy of your assignment to the Turnitin group for your class: please
ensure you submit it to the correct group and to the PAPER (final assignment and not
revision folder) as what is submitted here is what will be marked.
Submit your assignment to Turnitin by Sunday 24 th November before 11.59pm
If you have any technical difficulties, please contact Academic Services
(firstname.lastname@example.org) for assistance in submitting your work, please
include your full name, student number, module code, group number and class teacher’s
full name in the email.
Once an assignment has been submitted no alternative submission will be accepted after
the submission date.
Late Submission: Late submissions CANNOT be submitted to turnitin, all late submissions
MUST be emailed to Academic Services (email@example.com) to be recorded as
late and then uploaded. Please include your full name, student number, module code, group
number/letter and class teacher’s full name in the email. DO NOT email your class teacher;
they are unable to accept late submissions.
Information about the grading system will follow shortly.
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Feedback will normally be available to view in turnitin two weeks after submission. You can use
this feedback to guide your further learning on the module.
FC700 4A Supplementary Slides
FC700 4B Supplementary Slides
FC700 Economics 5B Government Intervention in Markets
FC700 Economics 5A Government Intervention in Markets
FC700 Economics 4A Elasticity