ECON1000 S2 2023 – Marking Guidance and FAQs on GTP

ECON1000 S2 2023 - Marking Guidance and FAQs on GTP

Students will be marked on the extent to which they specifically answer the question and provide clear, logical, well-reasoned and sufficient explanations.

Here is a summary breakdown of how marks are allocated in this GTP:

Part 1 [15 marks]

  • The 1x graphical (numerical) payoff matrix of the coordination game, paying attention to all the relevant strategies and economic outcomes, based on the three key news articles. [up to 10 marks for drawing correctly the relevant matrix and quality of analysis of the game theory particulars]

§  Providing relevant observations from the information provided in the articles and how this informs your analysis of the allocations.

[up to 5 marks for the discussion]

800 ± 200 or so words should be sufficient for Part 1.

Part 2 [15 marks]

§  The 1x graphical/numerical game tree, paying attention to all the relevant strategies and economic outcomes, as per the ultimatum game.

[up to 10 marks for drawing correctly the relevant game tree and quality of analysis of the game theory particulars]

§  Discussion of the role of power, preferences and social norms amongst the players and how this affects the allocation.

[up to 5 marks for quality of analysis and coherence of arguments within the discussion]

800 ± 200 or so words should be sufficient for Part 2.

Please refer ECON1000 S2 2023 – GTP Brief for a comprehensive description of the tasks

Marking Guide

Students will be marked on the extent to which they specifically answer the question and provide clear, logical, well-reasoned and sufficient explanations. In general, the greater the attention to detail in explanation given with logical consistency, solid reasoning, and clarity, the higher the mark (distinction grade). In this assessment, both the quantity and quality of the explanation matter. There are no specific word limits per se, so long as what is written contributes to and strengthens your analysis. Brief answers given with less attention to detail but assuming you get most of the raw basics correct should earn you a satisfactory (pass or low credit grade) overall. A scale of half-mark intervals is used to awarding marks in this assessment.

The rubric below is an indicative guide as to how the exercise shall be marked:

CriteriaUnsatisfactory 0 – 49%Satisfactory 50 – 64%Sound 65 – 79%Exemplary 80 – 100%
 LimitedSatisfactorySoundDiscriminating
Conceptual Understanding: Application of Economic Theoryunderstanding and application of key economic concepts/ theoretical framework in response to the caseunderstanding and application of key economic concepts/ theoretical framework in response to the caseunderstanding and application of key economic concepts/ theoretical framework in response to the caseunderstanding and application of key economic concepts/ theoretical framework in response to the case
 questions.questions.questions.questions.
     
GraphicalPayoff matrix / game tree is notBasic payoff matrix / game tree isPayoff matrix / game tree is adapted toPayoff matrix / game tree is adapted to
Communicationconstructed or is tooconstructed tothe case question,the case question
and Technicalunrelated to the caseillustrate and explainwith a good level ofand with a solid level
Detailsat hand.the theory in more generic terms.specification in the explanation.of specification in the explanation.
     
 Reasons are illogical,Reasoning is relevantLogical and clear,Discerning and
 irrelevant, or vagueand informed byinformed by analysiscomprehensive,
 and/or not informedsome analysis andand synthesis ofinformed by robust
 by research evidencesynthesis of researchresearch evidenceanalysis and
Critical Thinking / Analysisfrom the relevant articles. Small use of available information in the key articles.evidence from the relevant articles. Some use of available informationfrom the relevant articles. Good use of available information in the key articles.synthesis of research evidence from the relevant articles and beyond. Perceptive
  in the key articles. observations and
    solid use of the
    available information
    in the key articles.

10 FAQs for Game Theory Presentation (GTP)

1.      What is the base knowledge I need to start my analysis?

You are expected in your answers to refer to key economic concepts taught in the ECON1000 S2 2023 modules L1 and L2, where relevant. Just be wise and careful to write in your own words when you draw upon the lecture slides and the readings from CORE Team’s (2023) Economy, Society and Public Policy text (Units 2 and 3). The key economic concepts are taken from CORE ESPP Team (2023) and are discussed in lectures and tutorials.

2.      How important is the payoff matrix and game tree relative to the writing?

This activity is mostly a written analysis using logical argumentation. There is a ‘graphical’ component to this assessment where you are to construct a relevant 2×2 payoff matrix and an appropriate game tree.

  • The organisation of the text is crucial and requires planning. Sentences and paragraphs should be well connected using logical argumentation. Your answer should read as a continuous, threaded flow of ideas from beginning to end.
    • Be analytical and use your own critical thinking; do not be overly descriptive.

3.      Is it really necessary to do additional research?

I would say a little additional research might be required in this assessment, but this is not an intensive research activity (and peer-reviewed academic journals are not expected).

  • In addition to the relevant CORE readings, lectures, tutorials, the key articles (and some of the references embedded within each article) should be sufficient for you.
    • Part 2 may require some extra online research to provide further insights: stick to reputable sources such as objective news analysis articles.

4.      How do I reference or cite the key articles in this GTP, the main text and lecture notes?

You should read the assigned readings and synthesise the ideas and facts from them, where relevant. It is thus wise to refer to (and use in-text citation) of these key sources.

1.      What is the marker looking for?

Refer to the rubric on pages 1 and 2 of this document and pay close attention to the specific mark allocation.

  • A general guide on what the marker is looking for in the GTP is recalling the tutor-student discussions in the workshop sessions: WAQ_1 + WAQ_2 of Module L1; WAQ_2 of Module L2(a); and WAQ_1 + WAQ_2 of Module L2(b).
    • Your tutor as an exemplar would have gone through the process on how best to explain the payoff matrices, and so on. The local lecturer (Dr Andy B) on L1 and L2 might come in handy as well.

2.      What are the formatting requirements?

When ready to submit, ONLY include the answers and prepare your document as following: Full Name, Student ID and Tutor’s name as a title in the Word document (or PDF) to Turnitin by the due date (see Assessments tab on Bb).

3.      Is there an expected number of words?

The word count specified is a suggestion for say a sound answer. Students are permitted to write a bit more if they need to, so long as what is written is relevant and answers the question/task, and on the potential mark you wish to aim for.

4.      How should I interpretate my Turnitin similarity report?

The similarity report has been disabled. As a student, you only need to live with a guilty conscience,

along with any added stress of having to deal with ‘the system’, if you:

  • sent any parts of GTP on the web for someone else (either artificial or human) to partly do for you. and/or you’ve deliberately and strategically plagiarised, especially from other students. Apart from the above, you should not fear anything. And there has been plenty of guidance provided by your tutor in the relevant workshop activity questions and by your lecturer to help see you through this GTP.

5.      Where can I seek further clarification on the GTP?

Visit the Ed Discussion Board: ask a question, make a good comment, provide a constructive answer to a fellow student’s question. Be respectful and kind when making a post, so we can all enjoy. Our local Bentley economics tutor Sandy Cs will provide some indirect guidance, if needed.

6.      What is the marking and grades deadline?

Marking each GTP requires a good degree of concentration to provide you with useful comments. Please allow for a three (3) week turnaround for marking. Monday 25th of September (9pm) is the due date set in the Unit Outline for the release of marks/feedback on your GTP in Grade Centre. ❦            END OF MARKING GUIDANCE AND FAQS FOR GTP S2 2023

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