macro economics

BCO124 Macroeconomics Task brief & rubrics

Professor: Nelson Ferreira

Midterm assignment

Task

Please briefly answer the theoretical questions below based on the content from Unit 1 to Unit 4, presenting examples that support your assumptions. You

are expected to complete your answer with demonstrable research.

a. Explain the difference between real GDP and Nominal GDP and how can you calculate inflation through this data by presenting a real or fictional example built on your own (20%)

b. Describe how public policies can influence economic growth and give a real example of measures practiced by a country. (20%)

c. What types of unemployment do you know? Explain how to calculate unemployment rate and the impact of Minimum-wage laws in the labour

market. (20%)

d. Explain how savings and investment in the national income accounts can contribute for the production factores and help on economic growth.

What could be the role of savings and investment for dealing with a debt crisis? (40%)

Formalities:

• Wordcount: 1000-1500 words

• Cover, Table of Contents, References and Appendix are excluded of the total wordcount.

• Font: Arial 12,5 pts.

• Text alignment: Justified.

• The in-text References and the Bibliography must follow Harvard’s citation style.

• Only word or Pdf formats are accepted.

Outcomes: This task assesses the following learning outcomes:

• 1: Understand the relationship between economic theory and real macroeconomic scenarios

• 2: consider theories and institutions effects’ on the socio-economic environment.

• 3: Demonstrate an understanding of economic decision-making of different actors.

• 4: Evaluate real life situations with practical application of the acquired tools and knowledge.

• 5: understand the role of financial institutions of open economies.

Submission: Week 6 – Via Moodle (Turnitin) until 7th March 2021 at 23:59 CEST

Weight: This task is a 40% of your total grade for this subject.

Rubrics

Exceptional 90-100 Good 80-89 Fair 70-79 Marginal fail 60-69

Knowledge & Understanding

(20%)

Student demonstrates excellent understanding of key concepts on macroeconomics and uses vocabulary in an entirely appropriate manner.

Student demonstrates good understanding of the task and mentions some relevant concepts on macroeconomics and demonstrates use of the relevant vocabulary.

Student understands the task and provides minimum theory and/or some use of vocabulary on macroeconomics.

Student understands the task and attempts to answer the question but does not mention key concepts or uses minimum amount of relevant vocabulary on macroeconomics.

Application (30%) Student applies fully relevant knowledge from the topics delivered in class to real economic scenarios

Student applies mostly relevant knowledge from the topics delivered in class to real economic scenarios.

Student applies some relevant knowledge from the topics delivered in class to real economic scenarios. Some misunderstanding is also evident.

Student applies little relevant knowledge from the topics delivered in class to real economic scenarios. Misunderstands are evident.

Critical Thinking (30%)

Student critically assesses in excellent ways, drawing outstanding conclusions from relevant examples

Student critically assesses in good ways, drawing conclusions from relevant examples.

Student provides some insights but stays on the surface of the topic. References may not be relevant.

Student makes little or none critical thinking insights, does not quote appropriate authors, and does not provide valid sources.

Communication (20%)

Student communicates their ideas extremely clearly and concisely, respecting word count, grammar and spellcheck

Student communicates their ideas clearly and concisely, respecting word count, grammar and spellcheck

Student communicates their ideas with some clarity and concision. It may be slightly over or under the wordcount limit. Some misspelling errors may be evident.

Student communicates their ideas in a somewhat unclear and unconcise way. Does not reach or does exceed wordcount excessively and misspelling errors are evident.