Principles term 1 essay PDF

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Principles term 1 essay...

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Principles of Economics first term essay A consumer spends all his income on coffee and pastries, both of which are normal goods. Use indifference curve analysis, including a clear explanation of the income and substitution effects, to explain the effects of a large increase in the price of coffee on his optimal consumption of both goods.

Submission: via Canvas before 12 noon on Monday 30th October. The standard university penalty for late submission is 5 marks per working day – i.e. your mark would fall by 5% at 12.01 on the submission date, another 5% at 12.01 the following day and so on. Word limit: 1000 words. Exceeding this limit risks marks being taken off directly for excessive length. But more importantly, learning to write clearly and concisely is important: an essay that fits the word limit will almost always be better than a longer essay. Tables, diagrams, footnotes and the reference list do not count towards the word limit. The essay is formative: this means that it does not count towards the final module mark. As this is the first Economics essay (and for most of you, the first essay of any kind) you have written at university, this gives you a chance to write an academic essay and receive feedback that will help you with later essays that do count towards module marks. Marking criteria are on the next page. Note that these are general criteria and for a relatively short first-year essay you would not, for example, need to use as wide a range of sources to receive a high mark as you would for a longer essay at a more advanced stage of your degree. Some of the key points to remember to get a good mark are: be clear about any assumptions you are making; draw accurate diagrams and explain them in the text; if you think there are different possible answers, explain them; use academic sources (textbooks are fine; Wikipedia isn’t!) and reference them correctly; explain things in your own words. If you have questions about the essay, please ask them in the discussion thread on Canvas rather than by email – that way everyone can see the answers if they have similar questions.

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Assessment criteria for essays The table below is ONLY a guide: it cannot replace the professional judgement of the marker, who must judge the overall balance of factual knowledge, analysis, understanding, additional material, use of examples and diagrams, and essay structure when awarding a mark. Mark awarded

100 (93)

88 (83)

78 (75) (72)

68 (65) (62)

58 (55) (52)

48 (45) (42)

38 (33)

28 (23)

18 (13) 8 (3) 0

The higher mark (100, 88, 78, etc.) should be awarded if criteria in any mark band are fully or nearly fully met. The lower marks (62, 33, etc.) should be awarded to scripts that are above the highest standard for the category below but fail to meet all the criteria for the selected mark band. The middle marks (45, 55, 65, 75) can also be used when marking between 40 and 80%. An outstanding essay, as good as can be reasonably expected. Must show excellent understanding of the topic and synthesis of material from a range of relevant sources. Presentation and structure excellent with effective use of diagrams and images (where appropriate). Reference material cited and listed appropriately. An excellent answer, demonstrates full understanding of the topic. Good use of material from a wide range of relevant sources. Extremely well written and structured with effective use of diagrams and images (where appropriate). Reference material cited and listed appropriately. A very good essay that includes all the major points required to address the topic, demonstrates a thorough understanding of the topic. Good use of material from several sources. Presentation and structure good with good use of diagrams and images (where appropriate). Reference material cited and listed appropriately. A good essay that includes most of the major points required to address the topic, shows a good understanding of the subject area. Good use of material from several sources. Presentation and structure generally good with good use of diagrams and images (where appropriate). Reference material cited and listed appropriately. A satisfactory essay that includes the basic information required to address the topic, shows understanding of the topic. Material may be from a limited range of sources or too reliant on internet sources. Insufficient thought given to structure, some use of diagrams and images (where appropriate). Some errors in citing and listing reference material. Essay incomplete with serious omissions, some sound knowledge and evidence that the topic has, at least partly, been understood. Material may be from a limited range of sources or too reliant on internet sources. Poorly structured with poor use of diagrams and images. Errors in citing and listing reference material. Unsatisfactory essay with major omissions and errors; lacks evidence of understanding. Material from a limited range of sources or too reliant on internet sources but some material relevant to the topic. Poorly structured with poor use of diagrams and images. Errors in citing and listing reference material. Poor essay but contains some relevant points. Material from a limited range of sources or too reliant on internet sources. Poorly structured, little use of appropriate images or diagrams. Errors in citing and listing reference material. Little of value, one major or a small number of minor points which may be just relevant. Fails to address the question. Virtually nothing of value, maybe one or two very minor points, phrases or words that are barely relevant. No evidence of understanding the question. Answer contains nothing relevant to the question.

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