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BCO221 GLOBAL ECONOMICS (4 ECTS) Task brief & rubrics

Professor: Nelson Ferreira

Midterm assignment

Answer the four questions presented below using the essay format. Each question must be answered and reasoned by the student, using theory and

examples as appropriate and based on the content from Unit 1 to Unit 5. Please note that you must present examples that support your assumptions. You

are expected to complete your answer with demonstrable research.

1. How would you explain the importance of INTERNATIONAL ORGANIZATIONS for stabilizing economies and influence the global

economy? Give examples to sustain your argument and explain the influence international trade agreements have on development of an economy? (25%)

2. Please, identify the main drivers behind the third phase of globalization and explain how those still affect the development of the

companies and the entrepreneurship in Business? (25%)

3. Give an example of a country with an Absolute advantage relative to other and explain why that is happening. Then, explain the

difference between the Theory of Absolute Advantage and Comparative Advantage and build a hypothetical scenario from which

both could get benefits. (25%)

4. In recent years, as part of its efforts to strengthen the international financial system, and to enhance its effectiveness at preventing

and resolving crises, the IMF has applied both its surveillance and technical assistance work to the development of standards and

codes of good practice in its areas of responsibility, and to the strengthening of financial sectors. Based on this framework in the

global economy, describe the role of the International Monetary Fund. (25%)

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.

Submission: Week (6) – Via Moodle (Turnitin). Due in week 7 Sunday 14th March

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

It assesses the following learning outcomes:

• Outcome 1: understand the working of international financial markets and global economy.

• Outcome 2: apply theoretical concepts to real world scenarios and case studies of international trade

• Outcome 3: evaluate the state of the economy and the early warnings of a crisis

• Outcome 4: illustrate the key issues related to the globalized environment and formulate an analysis of institutions behavior in the global context

Rubrics

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

Knowledge & Understanding

(20%)

Student demonstrates excellent understanding of key concepts, uses vocabulary in an entirely appropriate manner and achieves a good holistic control of Global economics’ outcomes

Student demonstrates good understanding of the task and mentions some relevant concepts and demonstrates use of the relevant vocabulary. Achieves an acceptable good holistic control of Global economics’ outcomes

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

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

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

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

Student applies some relevant knowledge from the topics delivered in class. Misunderstanding may be evident.

Student applies little relevant knowledge from the topics delivered in class. Misunderstands are evident.

Critical Thinking (30%)

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

Student critically assesses in good ways, drawing conclusions from relevant authors and references.

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.