international economics

Assessment Brief Learning outcomes assessed within this piece of work as agreed at the programme level meeting Demonstration of an understanding of key concepts in international economics. Type of assessment: Report (2500 word limit) Assessment deadline: 2pm on Monday 24th of April 2017 Instructions for assessment The coursework assignment requires students to submit a 2500 word essay by the above deadline. The question that this assessment is aiming to answer is how and when can tariffs increase the welfare of a small economy. The basis for the essay will involve students clearly discussing circumstances under which a tariff may raise welfare of a small economy. Therefore, the essay should have at least, three sections: A brief introduction, followed by the main analysis, backed by diagrams, and a brief conclusion. It is up to the student if they wish to have more sections in the middle part. This should be followed by the bibliography. In addition to the final report, students will also need to submit a one-page (maximum) plan for their report mid-way through the semester (by the end of week 8), on which they will receive feedback, but this will not form part of the summative assessment. The essay will need to cover the ‘Infant Industry’ argument and distortions in the goods market and distortions in the factor market but students are encouraged to introduce other cases. Covering these three areas well is essential but even if the students do it well, at best, they will get middle upper second mark. To get a better mark the students need to do research, and add additional circumstances when a small country can gain from protection. Note that the essay is about a ‘small’ country so ‘large’ country case should not be discussed. Note also that whilst the students may argue that tariffs can raise welfare under certain circumstances, they may wish to raise the question ‘Is it the best policy’ instrument? The recommended textbooks are not very good in providing a technical answer to this question but Appleyard and Field discuss it in chapter 15 (Arguments for Interventionist Trade Policy) and Feenstra and Taylor in Chapters 8 and 9. Both books should be read as a background to other readings. Other sources should be read with care. There is a lot of stuff on the internet that is wrong and because it is not vetted/ refereed, it is not corrected. Be very careful when using it. Students will not be able to recognize why certain sources might be wrong, so students are advised to use published papers and books. Some of the resources recommended for the requirements of this assignment are the following: Smriti Chand [login to view URL] Suranovic International Economics, Chapter 100-4. This is an on-line textbook. [login to view URL] Levich, NYU, Chapter 9. Arguments for and against Protection [login to view URL]~rlevich/f1999/[login to view URL] Robert Baldwin The case against infant industry argument, Journal of Political Economy, 1969, vol 77(3) pp. 295-305 This is another paper by renowned trade theorist: [login to view URL],%2520Case%2520Against%2520Infant%[login to view URL] The assignment will be assessed against the following criteria (further details in the rubric at the end of this assessment brief): • Understanding of Key Concepts: 65% (35% for the three cases that I have mentioned, and the rest for additional points you bring up). • Quality of Discussion (15%) • Use of appropriate data and examples (10%) • Presentation and referencing (10%) How will we support you with your assessment? • You will receive formative feedback in Week 10. This will take the form of comments on a one page plan that is submitted via moodle. This plan should be submitted by the end of Week 8 (plans that are submitted after the deadline will not receive any feedback). • There will be an assessment briefing in Week 5. • Frequently asked questions and their answers will be posted on the module’s Moodle site. How will your work be assessed? Your work will be assessed by a subject expert who will use the marking grid provided in this assessment brief. When you access your marked work it is important that you reflect on the feedback so that you can use it to improve future assignments. Referencing You MUST use the Harvard System. The Harvard system is very easy to use once you become familiar with it. Assignment submissions The Business School requires a digital version of all assignment submissions. These must be submitted via Turnitin on the module’s Moodle site. They must be submitted as a Word file (not as a pdf) and must not include scanned in text or text boxes. They must be submitted by 2pm on the given date. For further general details on coursework preparation refer to the online information via StudentZone [login to view URL] Mitigating circumstances/what to do if you cannot submit a piece of work or attend your presentation The University Mitigating Circumstances Policy can be found on the University website - Mitigating Circumstances Policy Marking and feedback process Between you handing in your work and then receiving your feedback and marks within 20 days, there are a number of quality assurance processes that we go through to ensure that students receive marks which reflects their work. A brief summary is provided below. • Step One – The module and marking team meet to agree standards, expectations and how feedback will be provided. • Step Two – A subject expert will mark your work using the criteria provided in the assessment brief. • Step Three – A moderation meeting takes place where all members of the teaching and marking team will review the marking of others to confirm whether they agree with the mark and feedback • Step Four – Work at Levels 5 and 6 then goes to an external examiner who will review a sample of work to confirm that the marking between different staff is consistent and fair • Step Five – Your mark and feedback is processed by the Office and made available to you. Marking criteria (draft) 0-19 20-29 30-39 40-49 50-59 60-69 70-79 80-100 Task 1: Understanding of Key Concepts (65%) Virtually no useful or relevant background information has been provided about trade tariffs in a small economy. Little useful or relevant background information has been provided about trade tariffs in a small economy. Only a small amount of useful and relevant background information has been provided on the trade tariffs in a small economy. Some useful background information has been provided on the trade tariffs in a small economy. However, this has not been integrated very well into the report. A reasonable amount of useful background information has been provided on the trade tariffs in a small economy. Some attempt has been made to integrate this discussion into the report. A large amount of useful background information has been provided on the trade tariffs in a small economy. This discussion has been integrated fairly effectively into the report. A large amount of useful background information has been provided on the trade tariffs in a small economy. This discussion has been integrated effectively into the report. A large amount of useful background information has been provided on the trade tariffs in a small economy. This discussion has been integrated extremely effectively into the report. Mark awarded* Task 2: Quality of Discussion (15%) The essay contains virtually no discussion of the main factors, issues and considerations relating to trade tariffs in a small economy. The essay contains very little discussion of the main factors, issues and considerations relating to trade tariffs in a small economy. The essay contains only a small amount of discussion of the main factors, issues and considerations relating to trade tariffs in a small economy. The essay contains an adequate discussion of the main factors, issues and considerations relating to trade tariffs in a small economy. The essay contains a reasonable discussion of the main factors, issues and considerations relating to trade tariffs in a small economy. The essay contains a good discussion of the main factors, issues and considerations relating to trade tariffs in a small economy. The essay contains an excellent discussion of the main factors, issues and considerations relating to trade tariffs in a small economy. The essay contains a superb discussion of the main factors, issues and considerations relating to trade tariffs in a small economy. Mark awarded* Task 3: Use of appropriate data and examples (10%) The data and examples used in this assignment are very poor. The data and examples used in this assignment are poor. The data and examples used in this assignment are weak. The data and examples used in this assignment are adequate. The data and examples used in this assignment are generally good but there are some weaknesses. The data and examples used in this assignment are good. The data and examples used in this assignment are excellent. The data and examples used in this assignment are outstanding. Mark awarded* Task 6: Presentation and referencing (10%) Very poor presentation and formatting throughout. Poor presentation and formatting throughout. Referencing is limited. Poor presentation and formatting in many areas of the report. Referencing contains many omissions and inconsistencies Adequate presentation and formatting throughout. Referencing contains some omissions and inconsistencies Adequate presentation and formatting throughout. Referencing is generally fine but certain aspects could be improved. Good presentation and formatting throughout. Good referencing throughout. Excellent presentation and formatting throughout. Excellent referencing throughout. Outstanding presentation and formatting throughout. Outstanding referencing throughout. Mark awarded*