DRAFT VERSION – AWAITING EXTERNAL EXAMINER APPROVAL
Assessment will be confirmed by the end of teaching week 3
5.1 Assessment task
This module is assessed by means of an assignment of no more than 3,000 words. There are three parts to the assignment. You must complete all three parts. Your assignment must be submitted in a sans serif font no smaller than 12 points. Line spacing should be 1.5 or double.
Your completed assignment must be completed and submitted by Friday 26th April, 2013. See Section 5.2 for details of submission. Section 5.3 gives some further guidance on the assignment tasks.
Written assignments must not exceed the specified maximum number of words. All assignments that do so will be penalised. The penalty is at the discretion of the marker, but will certainly result in a reduction of the mark awarded.
Part 1 (20% of overall mark)
In 500 words or fewer, answer a question of your choice which requires you to use a microeconomic principle, or principles, discussed in the module. This question should involve a pattern of events or behaviour that you personally have observed. The issue you address need not be one traditionally analysed using economics, but your work should be an original application of economic logic and reasoning to something which interests you. Examples of issues students elsewhere have addressed are:
1. Why do brides spend so much money on wedding dresses, whereas grooms often rent cheap tuxedos, even though grooms could potentially wear their tuxedos on many other occasions and brides will never wear their dresses again? 2. Why are child safety seats required in cars but not in airplanes? 3. Why are round-trip fares from Hawaii to the US mainland higher than the corresponding fares from the US mainland to Hawaii?
4. Why do airlines charge much more for tickets purchased at the last minute, yet theatres follow exactly the opposite practice?
5. Why do many people buy larger houses when they retire and...