MOD003327 Economics for Business – Supply and Demand Analysis

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Assignment Requirements:-

Using supply and demand analysis, identify the main factors in determining the positive and negative shifts linked to changes in consumer demand for retail goods and services, and the response of retail supply on the market. Support your analysis with the use of at least four supply and demand graphs, supported with factual information from only the approved sources listed below.

Identify and explain the main UK governmental and economic policies that could be used to influence consumer retail spending in the United Kingdom, providing factual policy examples from only the approved data sources listed below.

Correct Harvard style referencing, clear formatting (including spelling, punctuation), and effective communication.

Assignment instructions:

In your coursework body, use economics theory, explain the unique changes in consumer retail spending that the UK economy has experienced from in 2020 (Task 1). Discuss adaptations by the UK government in response to the change in UK consumer retail spending habits in 2020.

  1. The coursework should begin with a cover page, including your student ID, the module name and code, date, coursework title, and word count. Do not include your name anywhere on the document to allow for anonymous marking. All pages must be numbered, and your student ID should appear at the top of each page (excluding the cover page).
  2. Following the cover page, write a brief executive summary that addresses issues in the topic statement above.
  3. Provide both an introduction paragraph and a conclusion paragraph for the coursework, both of which must also be aligned to your executive summary. Base your answer to Task 1 primarily on information learned in weeks 1-4 of ARUL Business Economics module lectures and the corresponding required readings from the Krugman & Wells (2017) textbook on Kortext.
  4. After the conclusion paragraph, finish your coursework with a Harvard style list of references or bibliography with the approved data sources in alphabetical order by author surname. Students should use at least five different approved data sources listed above and must include materials from the Krugman & Wells (2017) BEC module textbook.
  5. Plain formatting is preferred throughout. Avoid unnecessary coloured text or decorative images that are not directly providing data. A simple table of contents after the cover page is acceptable but not required. Check spelling, formatting, graph labels, in-text citations, referencing, and grammar before submission to avoid loss of marks.
  6. For Task 1, include a range of at least 4 supply and demand graphs to show relevant shifts in consumer retail demand, surplus, shortage, equilibriums, and their effects on price and quantity.
  • Demand curve shifts to the right and left depending on the retail good, and their effect on consumer demand.
  • Supply curve shifts to the right and left, depending on the retail goods, and their effect on the supply of retail goods.
  • The student must provide original graphs designed by the student or graphs adapted from lecture slides or adapted from the Krugman & Wells textbook. Graphs must be correctly labelled and referenced in Harvard style throughout.
  • Each supply and demand graph must include both supply and demand; no single curve graphs should be provided.
  • Graphs and explanations must be specifically linked to answering the assignment topic and thesis statement with relevant titles and labels, and subject-specific data when possible. The use of generic graphs or general economics explanations not linked to the assignment topic will result in loss of marks.