A sound understanding of some basic concepts of economics and An understanding of and an ability to use Excel

Module Code:

Umedkl-30-0

Module Title:

Economics and Accounting for the Real World

Submission Deadline:

14/3/19

Assessment Component

B

Assessment Weighting:

15 per cent of total module mark

Marking and feedback deadline (20 working days)

11/4/19

Learning Outcomes

On completion of this coursework students will be able to meet the module LOs:

· A sound understanding of some basic concepts of economics,

· An understanding of and an ability to use Excel

Assessment Instructions

Economics and Accounting for the Real World. Coursework instructions. To be submitted Thursday 14th March 2019, 2pm.

Follow the specific instructions below for Part A and B.

Part A (20% of the marks):

1. Access the data on the Excel file on Blackboard. The data comes from the following source [http://www.eia.gov/forecasts/steo/realprices/]. These are monthly data for oil prices (imported crude oil): nominal and real. The data range should be Jan 1974 – January 2020.

2. Use Excel to create plots for these series in one graph. Additionally, you should also include CPI Index in this graph with a secondary axis.

3. Use Excel formulae to calculate the average real and nominal prices for these periods: Jan 1974 – Dec 1986; Jan 1987 – Dec 2002; Jan 2003 – Dec 2008; Jan 2009 – Jan 2019.

Note: these averages and formulae must be displayed in the Excel sheet submitted and use the ROUNDUP formula to convert the averages to 2 decimal places.

4. Produce graphs showing real price, nominal price and the CPI for the period Jan 1974- Dec 1986 and Jan 2009- Dec 2020.

Requirements for the graph:

· The graph should look professional: the font size for axis titles should be the appropriate size for the total graph area.

· The axes must be labelled.

· The data source must be referenced at the bottom of the graph using UWE Harvard referencing style.

Part B: (80% of the marks) 750 words.

Part B: (80% of the marks) 750 words. 

Using the graphs that you created in Part A, Question 4, for the period Jan 1974 - Dec 1986 and Jan 2009- Dec 2020, explain the causes and effect of major changes in oil prices over the two periods.

Further instructions:

· UWE Harvard referencing style is required (in-text and the reference list)

· Read and reference relevant and trustworthy sources such as journal articles, FT, Guardian, The Economist etc.

· The weblinks below are an indicative source. You would be expected to undertake your own search.

· https://www.theguardian.com/environment/2011/mar/03/1970s-oil-price-shock

· http://www.economist.com/news/business-and-finance/21635696-plunging-oil-prices-are-not-new-phenomenon-oil-gluts-early-1990s-style

· https://en.wikipedia.org/wiki/2000s_energy_crisis

· file:///C:/Users/User/Downloads/SN02106.pdf

· http://blog.smarttouchenergy.com/factors-affecting-oil-prices

Marking Criteria

The following criteria will be used in evaluating this assessment:

Economics and Accounting for the Real World UMEDKL-30-0 Marking criteria and feedback

Student Number: Marker: Date:

Help with your academic work is available at the BBS online study skills site .

Formative feedback and Support

Formative feedback

Formative feedback provides opportunities to reflect on your ongoing work and preparation for your assignment.

There will be part of a workshop and a lecture dedicated to helping students identify their strengths and weaknesses in preparing for this economic assignment. Tutors will have an ongoing dialogue with students about what they have understood and students will be articulating areas they know they would like to improve upon.

Further information about this assessment is available on the Blackboard site for this module and includes:

The module handbook.

Reading List Weeks 2, 3

Study Units: Workshop answers 1 to 4.

.

Formatting

Please use the following file format Word. We cannot ensure that other formats are compatible with markers’ software.

All work should be word processed in 12-point font Arial and single spaced.

The first page of your coursework must include:

· Your student Number

· The module Name and Number

· Your word Count

· The coursework question or title

Word Limit

The maximum word limit for this coursework is 750 words.

· This word count includes everything in the main body of the text (including headings, tables, citations, quotes, lists, etc.).

· The references, bibliography and footnotes (provided footnotes only include references) are NOT included in this word count.

· There is no direct penalty for exceeding the word count, but the marker WILL stop reading once the maximum word limit has been reached and nothing further will be taken into account in the allocation of marks.

You can view the UWE word count policy here: http://www1.uwe.ac.uk/aboutus/policies

Referencing:

Please adhere to the principles of good academic practice and ensure you reference all sources used when developing your assessment, using the UWE Harvard system. Failure to properly reference your work to original source material can be grounds for the assessment offence of plagiarism and may result in failure of the assessment or have more serious implications.

For further guidance on correct referencing go to:

http://www1.uwe.ac.uk/students/studysupport/studyskills/referencing.aspx

Details of what constitutes plagiarism and how to avoid it can be found here:

http://www1.uwe.ac.uk/students/studysupport/studyskills/readingandwriting/plagiarism.aspx

For general guidance on how to avoid assessment offences see:

http://www1.uwe.ac.uk/students/academicadvice/assessments/assessmentoffences.aspx

Instructions for submission

You must submit your assignment before the stated deadline by electronic submission through Blackboard. Notification that the electronic submission portal is open for your assignment is displayed (usually two weeks before the submission date) in the Coursework tab in myUWE, the Coursework tab in Blackboard and via an announcement in the Blackboard course.

Please allow sufficient time to upload your assignment, noting that the system becomes busier and slower as the deadline approaches. Only your final upload will be counted. Ensure all your information is submitted at one attempt to avoid ‘overwriting’ your intended submission. Always check and retain your receipts.

Late submission in the 24 hours following the deadline will be accepted but the assignment mark will be capped at 40%. Submissions after 24 hours will not be accepted. For full guidance on online submission through Blackboard, see:

http://info.uwe.ac.uk/online/Blackboard/students/guides/assignments/default.asp

Submissions of coursework by any other method (including a paper copy, on disk or by email) are NOT permissible for this module unless specifically agreed in advance of the submission date.

Before submitting your work, please ensure that:

· You have proof read you work thoroughly to ensure your work is presented appropriately

· You have addressed all the required elements of the assessment

· You have referenced in accordance with the guidance provided

· You have addressed each of the marking criterion

· The submission is in the correct format

Final feedback and marks release

Students will normally receive marks and feedback on their submission within 20 working days of the submission deadline (not including any public holidays or university closure days). Any delay in returning students’ work will be communicated by the module leader via Blackboard.

There will be generic feedback put up on Blackboard, after the results have been released.

Feedback on this module is not limited to the written comments you will receive on individual written assessment submissions.

Feedback and marks for this module will be available by around Thursday 11th April 2019.

For further guidance on feedback, please refer to the module handbook.

Further Guidance and Support

General guidance on study skills: is available at: http://www1.uwe.ac.uk/students/studysupport/studyskills.aspx

Specific study skills pages relating to this module include:

Presentation skills: https://www1.uwe.ac.uk/students/studysupport/studyskills/groupworkandpresenting/presenting.aspx

Writing skills:

https://www1.uwe.ac.uk/students/studysupport/studyskills/readingandwriting/writing.aspx

Support from the FBL Academic Success Centre:

http://www1.uwe.ac.uk/bl/bbs/aboutus/studentexperience/academicsupportcentre.aspx

Guidance on UWE assessment regulations and terminology: http://www1.uwe.ac.uk/students/academicadvice/assessments/assessmentsguide.aspx

Guidance on using the library: http://www1.uwe.ac.uk/library/usingthelibrary.aspx

Personal Circumstances

If you are experiencing difficulties in completing a piece of assessment on time due to unexpected circumstances (for example illness, accident, bereavement), you should seek advice from a Student Support Adviser at the earliest opportunity.

Please note the module leader cannot grant personal circumstances or extensions.

Appointments with a student adviser can be made via an Information Point or online at:

http://www1.uwe.ac.uk/students/academicadvice/studentadvisers.aspx

The Student Support Adviser will advise as to whether you should submit an application for ‘Personal Circumstances (PCs)’, how to do so and what evidence is required to support the application.

Further details on ECs can be found here:

http://www1.uwe.ac.uk/students/academicadvice/assessments/personalcircumstances.aspx