Managerial Economics ABS-MBA
Assignment – 2023
STUDENT ID
UNIT TITLE:
NAME (in Full):
- All assignments are to be submitted on 24th February
- Any Assignment submission extension request must come to Azra Fatima (Head: Examination | Academic) 5 days before the date of submission with a valid reason and supported documentary evidence.
- APA 7th edition referencing guidelines needs to be followed.
- Similarity between student’s work is strictly not accepted, any student found with similar work will be graded Zero and fail for the course. However, Plagiarism is an academic offence and will not be tolerated.
- Any reevaluation request should come in 5 days of grade release. Any late request will not be obliged. (Form and other details shall be shared based on request)
- Reevaluation cannot be requested for plagiarized assignments as the assignment stands as an academic misconduct.
- If a program participant submits the assignment late, but within 1 week after the submission date a 20% penalty will be applied
- Re-evaluation request is NOT applicable for any failed courses provided the mark range from 59 to 69. Any grade which is below the range is however not applicable for this request.
- Any rescheduling request can be fulfilled within one week after the actual date of the assessment. Any late request will not be obliged.
- Assignment once submitted to exam board is final for marking.
- Second extension cannot be provided without supporting documentary evidence.
- Program participants are strongly advised to keep a copy of their work in case the submitted copy should go astray.
- Total 90 marks. 10 Marks for Class Attendance. Final marks will be
converted to 90 marks.
PS. Kindly note to adhere to all the above instructions. Failing to read this, ATMS will not be responsible for any actions taken.
GUIDELINES FOR ASSIGNMENT
- If assignment is Question & Answer based then.
- Introduction is needed for each question.
- Question has to be answered based on the mark allotted for each question with references if any idea or information is taken from other source.
- If assignment is case based then,
- Executive summary
- Table of content
- Introduction
- Body of assignment (questions related to case need to be answered)
- Conclusion / Recommendation if any
- References (in-text + citation) to be used.
Total Marks / 90
PLAGIARISM
Plagiarism is a form of cheating, by representing someone else’s work as your own or using someone else’s work (another student or author) without acknowledging it with a reference. This is a serious breach of the Academic Regulations and will be dealt with accordingly. Students found to have plagiarized can be excluded from the program.
Plagiarism occurs whenever you do any of the following things without acknowledging the original source:
- Copy information from any source (including the study guide, books, newspapers, the internet)
- Use another person’s concepts or ideas
- Summarize or paraphrase another person’s work.
How do I avoid plagiarism?
To ensure you are not plagiarizing, you must acknowledge with a reference whenever you:
- use another person’s ideas, opinions or theory
- include any statistics, graphs or images that have been compiled or created by another person or organization
- Paraphrase another’s written or spokenword.
What are the penalties?
The penalties for plagiarism are:
- Deduction of marks,
- A mark of zero for the assignment or the unit, or
- Exclusion from the program.
Plagiarism is dealt with on a case-by-case basis and the penalties will reflect the seriousness of the breach. Please note claiming that you were not aware of need to reference is no excuse.
Answer all the Questions. (Word Limit: 2000-2500 words)
Section I.
- Explain how by reducing the supply of money, the central banks can move the equilibrium in the market for money. Use demand and supply charts to explain.
(You can use referenced charts from Internet or draw by hand or on Excel)
(10 marks)
- The Fisho company produces tuna cans. Fixed costs are $1000 to run the business. Fill in for fixed cost (FC), total cost (TC), average variable cost (AVC), average total cost (ATC), marginal cost (MC), round at 1 decimal place.
At which quantity level is the efficient production achieved?
| Qty | VC | FC | TC | AVC | ATC | MC |
| 0 | ||||||
| 1000 | 100 | |||||
| 1500 | 300 | |||||
| 3000 | 500 | |||||
| 6000 | 700 | |||||
| 8000 | 800 | |||||
| 11000 | 1000 |
Assume that Marginal Revenue is equal to 100, in this case is maximization of profit consistent with the efficient production point? What can we conclude about the profit there?
(Total: 20 marks)
- Calculate the following elasticities: Price: $100 increases to $110
Quantity supplied: 100 increases to 120. Explain the category of elasticity of this good.
Price: $1 increase to $5
Quantity demanded: remains at 1000.
Explain the category of elasticity of this good.
Price: $1 increase to $1.20
Quantity demanded: 200 decreases to 180. Explain the category of elasticity of this good. (10 marks)
- Using the concept of elasticity, explain how an increase in the price of Korean cars could boost the sales of Japanese cars. (10 marks)
Section II.
- Study the nurses’ strike in England. Show how the strikers’ demands for pay and compensation can be explained by the demand and supply in the country.
Answer this question like an essay with an introduction and a conclusion and 2/3 sections in between. Use 10 unique professional/academic references.
Tips: Include charts with data to illustrate your answer and present the salary data and compare with other similar countries. (25 marks)
- Explain the comparative advantage concept in the case of 2 countries of your choice. Tips: Introduction and conclusion are not needed but you select two countries with important trade relationships. (15 marks)
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