Economics for Business

Assignment Scenario
You have been working in business for a number of years and are a member of a professional institute for business people. The institute keeps business people up to date with business issues and publishes a monthly magazine containing useful articles for its members. The magazine editor has invited you to contribute an article to the magazine.
Task 1
Write a magazine article called ‘Understanding the economic business environment’. In the article you must:
• Explain the importance of the micro-environment to business organisations
• Analyse business objectives and behaviour in an economic context
• Assess the impact of market structures on business organisations
• Explain the determinants of national income
• Assess the impact of government policies on an economy
• Assess the impact of the macro-economic environment on business organisations
Extension activity
To achieve a Merit, your article must include an evaluation of the effect of changes in the micro and macro-economic business environments on a specific business organisation you have chosen. This may be an organisation from your own experience or one you have researched.
To achieve a Distinction, you must also evaluate the impact of government policies on a named economy you have chosen, over a period of time you have specified. Learning outcomes and assessment criteria
LO1 AC 1.1, 1.2, 1.3
LO2 AC 2.1, 2.2, 2.3, 2M1, 2D1

Task 2
Your article had a very good reception and the institute has asked you to give a presentation at an upcoming conference. The presentation should look at the implications for businesses of operating in the international economic environment. You should produce detailed notes for your presentation and supporting slides which:
• Analyse features of the international economic environment as they relate to business
• Assess the implications for business organisations of operating in the international economic environment
Extension activity
To achieve a Merit, you must also assess the risks involved for business organisations in operating in the international economic environment.
To achieve a Distinction, you must also recommend, with justifications, actions a business organisation can take to minimise the risks of operating in an international economic environment.

Learning outcomes and assessment criteria
LO3 AC 3.1, 3.2, 3M1, 3D1