BACHELOR OF BUSINESS ADMINISTRATION II
ECONOMICS II
ASSIGNMENT
Please refer to the Academic Calendar for the assignment submission dates.
TECHNICAL REQUIREMENTS AND ASSIGNMENT INSTRUCTIONS
• Ensure that your first name, surname, student number, the course code number and total number of pages appear on the front cover of your assignment.
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• Answer this assignment according to the guidelines in the Assignment Submission Guide, which you can download here: https://portal.regenesys.net/pluginfile.php/1400/mod_resource/content/10/Assignment_Submissi on_Guide_Acad_ver7.pdf
• Ensure that you have a thorough understanding of the frequently used terms in assessments. For an explanation of assessment terminology, go to:
https://portal.regenesys.net/pluginfile.php/1400/mod_resource/content/10/Assignment_Submissi on_Guide_Acad_ver7.pdf
• Start this assignment as soon as possible. It will help you focus on important parts of the subject content early in your studies.
Assignment format
Programme assignment submission guidelines Assignment length – maximum words Minimum references required in bibliography Maximum
similarity index permitted
Master’s 5,000-6,000 15 15%
Postgraduate diploma 4,500-5,500 10 15%
Third year 3,500-4,500 7 20%
Second year 3,000-4,000 5 20%
First year and higher certificate 2,500-3,500 3 20%
• Use Arial 11pt, 1,15 line spacing.
• Write your responses in ESSAY AND PARAGRAPH FORMAT. Avoid bullet-type responses.
• Appendices may be a maximum of three pages each, with the information in them relevant to the assignment and summarised. Provide relevant links referenced in your appendices so that your assessor can evaluate them.
• Respect the introduction, body and conclusion format for answering questions – this counts for marks.
MARK ALLOCATION GUIDELINES
Introduction and conclusion Up to 5% for clear statement of purpose, clear outline of aspects covered in assignment, summarising key issues in the assignment; relevance of summary to assignment
Referencing No in-text referencing or
reference list
= 0% Minimal referencing
evident = 1%-4% Referencing evident but inconsistent, incomplete, and fewer than required
= 5% Depending on application of referencing
techniques in text, in reference list, and variety and number of references consulted – substantially exceeding the minimum number
required = 6%-9% Perfect in-text referencing, reference list, variety and number of references consulted and substantially
exceeding the minimum number of references
required = 10%
Body The marks awarded for the questions you answer or tasks you perform will be calculated out of 100. These will be recalculated to count for 85% of the total assignment mark.
More details on mark allocation can be found in the assignment submission guidelines at https://portal.regenesys.net/course/view.php?id=43
Referencing
• Plagiarism is a serious offence. Do not copy directly from any text unless absolutely necessary. Enclose quotes in inverted commas to indicate that they are not your words, and include an intext reference with each quote. Paraphrase all the reference comments that you use and include appropriate reference and page numbers.
• Use the in-text referencing method prescribed by Regenesys under guidelines and policies on the student portal. Consult the referencing mark allocation guide for the minimum number of references needed for this assignment.
• Full referencing of all sources, including page numbers in in-text referencing, is essential. For example: (Gitman, 2010:15) in text, and then in your reference list:
Gitman, L.J. 2010, Principles of Managerial Finance, Cape Town: Pearson Education.
• Extensive and credible academic references are required to demonstrate that you have researched the topics fully and so that you can substantiate your arguments critically.
NOTE: At postgraduate level, you are expected to substantiate your answers with evidence from independent research.
You may work on this assignment in a group BUT you must write the assignment individually, and in your own words. If NOT, you will be told you have copied and you will have to do a brand new assignment. The mark will be capped at 60%, and you will have to pay a resubmission fee.
INTRODUCTION TO THE ASSIGNMENT
• This assignment consists of FOUR questions.
• Please answer all of the questions.
•
Good luck!
ASSIGNMENT QUESTIONS
QUESTION 1 (20 MARKS)
1.1 List and briefly explain the three economic questions that form the foundations of the (14) discipline.
1.2 Consider the population of LaLa-Land. In 2018, the country had a total population of (06) 30-million, 10-million of whom were older than 64 years old and younger than 16 years old (the minimum working age) while 9-million, mostly housewives and students, did not want to work. A total of 8-million of the population between 16 years old and 64 years old who wanted to work were employed while the rest remained unemployed. Based on this information answer the following questions:
a) What is the size of the labour force or economically active population?
b) What is the labour force participation rate?
c) How many people are unemployed?
d) What is the unemployment rate?
Bear in mind this question will require you to read and research further than the content given to you in the study materials provided.
QUESTION 2 [20 MARKS]
2.1 Consider the rand/dollar exchange rate. Assuming that the exchange rate is currently (14) quoted as R11.50 to the US dollar answer the following questions:
a) How many US cents would be required to buy R1.00? (2)
b) If you bought an economic textbook for $45 over the internet, how much (3) would you have to pay in Rands?
c) If the exchange rate were to change to R11.80 to the dollar, which currency
has appreciated and which has depreciated? (2)
d) How much will the textbook priced at $45 cost you now in terms of the South (3)
African Rand?
e) Explain how a change in the exchange rate results in “winners” and “losers”. (4)
Bear in mind this question will require you to read and research further than the content given to you in the study materials provided.
2.2 Before receiving the textbook you have ordered, you are contacted by the courier (06) company who informs you that in addition to the price that you paid for the item and its delivery you are now compelled to pay an additional R200 before it can be released by customs officials. What is this R200 known as in economics and how will it impact future international purchases you make?
QUESTION 3 [25 MARKS]
3.1 Discuss the difference between frictional and cyclical unemployment. Please make (13) use of examples in your response.
3.2 Critically discuss GDP as an economic indicator and its strengths and weaknesses. (12) QUESTION 4 [35 MARKS]
How small business owners are managing the 4th wave
Small businesses are facing increasing challenges as the fourth wave of the pandemic looms. New statistics published by the Canadian Federation of Independent Business (CFIB) reports small businesses owe an average of $170,000 and that number almost doubles to $333,174 for businesses in the hospitality sector.
Corinne Pohlmann, senior vice-president of national affairs at CFIB, says repaying this debt will be the next major challenge as businesses head into the uncertainty of the fall. “It’s so incredibly important for consumers to really think about making a purchase at a smaller company rather than through Amazon or Walmart,” adds Ms. Pohlmann. “It’s the small businesses on Main Street that make a place unique.”
Despite the headlines, entrepreneurs have remained resilient during this economic roller coaster brought on by the Covid-19 pandemic. “Keeping contact with customers – seeing them walk in, seeing the impact that you have on your customers and your neighbourhood – keeps us positive and optimistic,” says coffee shop and bakery owner Billy Dertillis, who co-owns Red Rocket Coffee in Toronto with his brother, Ellias.
“[Small business owners] have been incredibly resilient. The fact that we’re now 17 months into the pandemic and there are some businesses that have been closed for more than 300 days in certain parts of the country, the ability for many of those to still reopen and operate and feel optimistic, is inspiring,” adds Ms. Pohlman.
• [Source: Baxter, J. 2021, ‘How small business owners are managing the 4th wave’, https://www.theglobeandmail.com/business/small-business/article-how-small-business-ownersare-preparing-for-the-4th-wave/ (accessed 09 November 2021).]
Analyse the current state of the South African business landscape and map a plan of action for businesses that considers the role of government intervention with the economic tools and policies available to them to mitigate the impact of the fourth wave. Be guided by the rubric provided below.
SCORING
TOPIC POOR
ROOM TO DEVELOP
PROFICIENT
MASTERLY
CRITERIA
Analysis of the state of the retail economy at present No analysis is provided. No discussion on issues pertaining to spending, employment levels, and economic growth are taken into consideration.
Some attempt is made to analyse the needs of the economy as a whole. The
understanding of issues pertaining to spending, employment levels, and economic growth is basic.
A concise discussion of the state of the nation with a clear focus on businesses. Some discussion on issues pertaining to spending, employment levels, and economic growth but not at a level that shows great depth of understanding.
Objective and thorough discussion of the state of the nation bearing in mind the needs of businesses. Issues pertaining to spending, employment levels, and economic growth are taken into consideration clearly and concisely.
Possible solutions proposed in the form of a plan of action for businesses are proposed No attempt made to identify solutions for businesses. Some attempt is made to identify solutions in the form of a plausible plan of action. Some solutions proposed in the form of a workable action plan. In addition possible deterrents to this plan are recognised but not discussed. A range of solutions are proposed in the form of an action plan for businesses. In addition possible deterrents to this programme are recognised and discussed. Issues pertaining to spending, employment levels, and economic growth are taken into consideration clearly and concisely.
No reform recommendations made that make provision for the economic impact of Covid-19 on businesses. No understanding or application of monetary and fiscal policy and how this can and will impact retailers. The reform programme is conscious of the economic impact of Covid-19 on businesses and via action taken by government to influence economic activity through the application of monetary and fiscal policy.
Recommendations made are barely plausible and vaguely make provision for the economic impact of Covid-19 on businesses. A general understanding or application of monetary and fiscal policy and how this can and will impact retailers. Plausible recommendations made that make provision for the Covid19 on businesses. Clear understanding or application of monetary and fiscal policy and how this can and will impact firms without any suggestion as to how to mitigate these risks. Recommendations made are astute, plausible and justifiable and that make provision for the Covid-19 on businesses. Clearly considered understanding and application of monetary and fiscal policy decisions and how this can and will impact firms and strategies posed to mitigate this.
Total Marks: 100