Economics Subject Outline

8/8/2019 Economics Subject Outline

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University of Wales The Turning Point Business School

Business Economics

Subject OutlineThe Turning Point Business School

MAY 2007

Credit Points:Lecturer:Email:

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Table of Contents

Section 1: General Information................................................................................31.1 Lecture Time & Location............................................................................3

1.2 Brief Outline..............................................................................................31.3 Aims...........................................................................................................41.4 Learning Outcomes...................................................................................41.5 Attendance................................................................................................41.6 Required Texts..........................................................................................41.7 Supplementary Reading............................................................................51.8 Course Schedule........................................................................................61.9 Web References........................................................................................81.10 Policies on Educational Issues and Student matters...............................81.11 Assessments............................................................................................81.12 Submission Dates....................................................................................9

Section 2: Assessment...........................................................................................102.1 Grades Awarded......................................................................................102.2 Satisfactory Completion Requirements of this Subject............................112.3 Assessment Weight................................................................................112.4 Assessments............................................................................................12

Assignment 1 (25%) - INDIVIDUAL ASSIGNMENT...............................................................12Assignment 2 (30%) - INDIVIDUAL ASSIGNMENT...............................................................12Marking Rubrics.................................................................................................................12

2.5 Examination Information.........................................................................15Section 3: Citation & Plagiarism.............................................................................16

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1.3 Aims

This subject aims to:

To develop a systematic understanding of the knowledge andunderstanding of purchasing and supply chain management concepts andtechniques;

To develop an understanding of the principle areas of the law relevant topurchasing and supply with particular emphasis on Contract and Sales ofGoods legislation;

To develop an understanding of the constraints and responsibilities arisingfrom environmental and ethical considerations;

To develop a range of skills essential to effective supply chain management.

1.4 Learning OutcomesOn successful completion of this subject, the student should be able to:

1. To provide students with an understanding of economic methods of analysisincluding market equilibrium, marginal change and price elasticity;

2. To provide students with sufficient economic tools to enable them toanalyse significant economic policy issues facing modern economies;

3. To allow students to undertake independent study of current economicissues through which they can learn basic research methods;

4. To develop students independent analytical skills by applying economicconcepts to a range of economic problems within a workshop format.

1.5 Attendance

Attendance is strongly recommended in order for students to be able tosatisfactorily attempt the final examination. Students are required to sign in theirattendance for every lecture attended.

1.6 Required Texts

Welch (2007), Economics: Theory and Practice, 8th EditionISBN: 978-0-471-67946-2

1.7 Supplementary Reading

Jackson, John and McIver, Ron (2007), Microeconomics, 8thedition,McGraw-Hill, Sydney.

Journals & Magazines

The Economist Far Eastern Economic Review The Australian Financial Review,

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1.8 Course Schedule

The following schedule covers materials to be addressed over the four weekendsessions.

Students are advised that they should seek to cover as much of the material as

possible prior to attending each of the weekends.

Weekend Dates Indicative Content

1 16-18 March 2007 Text Chapter 1 will not be lectured. Students shouldread this on their own.Text Chapters: 2, 3, 4, 5 and 6 will be covered, withparticular emphasis on:

ESI and EBI in supply management and productdesign

Sourcing, Managing & Developing Suppliers Strategic Sourcing Stock management and movement Purchasing structure and function Procedures and use of tools (including systems)

to support thisThe first weekend seeks to provide a functional andpractical look at the purchasing organisation, layinggroundwork for more strategic considerations withregards to supply chain management and the legalconsiderations that we must operate within.

2 13-15 April 2007 Text Chapters: 7, 8, 11, 12 and 16The emphasis this week will be on the supplier,particularly in regards to:

Sourcing, managing and developing suppliers Supplier considerations with regards to size,

quality, involvement and price Supplier relationship models Make or buy decisions for both goods and

services Support tools to manage the sourcing process

as well as suppler relationships

3 18-20 May 2007 Text Chapters: 9, 10, 15 and 17This week will have an emphasis on managingsuppliers with regards to:

Product quality and performance The design of supply networks to manage the

physical location of goods to match demandand cost requirements

Negotiation Management and implementation of negotiated

agreements Procurement performance, research and ethics

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Weekend Dates Indicative Content

4 15-17 June 2007 Text Chapters: 6, 14Handouts: Sale of Goods Act (Singapore), The GlobalSourcing Benchmark Report (Aberdeen, June 2003)This lesson aims to focus on procurement:

International trade and transportation

considerations Legal considerations with regards to law in

Singapore, contracts and procurement toolssupported in Singapore and internationally bothin terms of information provision and contractlaw.

The contract law will cover: Terms and Conditions of contract Addressing unfair contract terms (will be

addressed looking at the Singapore Statute) Carriage contract Breach of contract Rights and obligations of contract

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1.9 Web References

It is expected that students will make good use of the online materialsthat are now available from a myriad of organisations on the world-wide-web. The following are a list of predominant organisations whose

web sites will provide material most a appropriate to this module.

www.purchasing.com Purchasing Magazine

www.cips.org Chartered Institute of Purchasing &Supply

www.ism.ws Institute for Supply Management

www.manufacturing.net/scm Supply Chain Management Review

www.manufacturing.net Manufacturing.Net

en.wikipedia.org/wiki/Procurement Procurement on Wikipedia

www.cio.com CIO Magazine

www.dti.gov.uk The Department of Trade and Industry

www.ft.com The Financial Times

www.gee.co.uk/gbn The Gee Business Network

www.idongroup.com Strategy Thinking & Scenarios

www.incomesdata.co.uk Incomes Data Services

www.inst-mgt.org.uk The Institute of Management

www.ipsera.org.uk IPSERA

www.opengov.uk/dfee/home.htm The Department of Education andEmployment

www.supplymanagement.co.uk SupplyManagement.com Magazine

scholar.google.com Google Scholar provides a simple way tobroadly search for scholarly literature.

www.lawnet.com.sg Online reference for legal matterspertaining to Singapore, the ASEAN

statutes.agc.gov.sg Singapore Statutes online

1.10 Policies on Educational Issues and Student matters

Please refer to the student handbook available from the University ofWales Website.

1.11 Assessments

All assignments are expected to be the original work of students. Eachassignment should give details of references used and all quotationsshould be clearly attributed to their source. Although grouppreparation is encouraged it should be noted that collusion andplagiarism will not be tolerated and will be subjected to severepenalties.

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1.12 Submission Dates

Assignments should be submitted to the office and not directly to thelecturer. A completed Assignment Submission Cover (see Appendix)

should accompany each assignment. The centre will set deadlines forsubmission of assignments and students must adhere to this deadline.Assignments received one week after the deadline will be markedLate submission and 5% of marks apportioned to the assignmentwill be deducted. Assignments submitted later than a week after thedeadline will be deemed as a fail. Submission of assignments iscompulsory: you cannot pass a module unless you have completedthe assignments.

Submission of an assignment is considered to be final. A student is notentitled to revise an unsatisfactory assignment and may only re-

submit an assignment when the Examination Board gives permissionto do so. The assignment mark provides part of the composite subjectmark upon which the award of MSc is based and the submission ofassignments should be treated as part of the final assessment and asa formal process.

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SECTION 2: ASSESSMENT

2.1 Grades Awarded

The approved grades of performance and associated ranges of marks this subjectis:

A Grade:To be awarded a Grade A you must provide evidence of wide reading ofrelevant literature, exercising discernment in the selection of appropriatequotations and evidence to support your work. The use of appropriate models andconcepts should be accurate and demonstrate depth of understanding andcreative application to the subject companies. Your work should be logical andcoherent, presented in an interesting and accessible style. By definition A Gradework is of an exceptional standard.

B Grade:To be awarded a Grade B you must provide evidence of wide reading ofrelevant literature, selecting appropriate quotations and evidence to support yourwork. The use of appropriate models and concepts should be accurate anddemonstrate understanding and application to the subject companies. Your workshould be logical and presented in an interesting and accessible style. Work in theG Grades can be generally defined as very good.

C Grade:To be awarded a Grade C you must demonstrate that you haveundertaken a review of relevant literature and that you have used the informationto illustrate your answer. You should clearly demonstrate your ability to apply the

key theories and concepts to the given circumstances. Your work should belogical, correctly referenced and convincing. Work in the C range can generally bedescribed as average.

D Grade:To be awarded a Grade D you must demonstrate that you haveundertaken a review of relevant literature. You should attempt to apply relevantmodels and concepts to the given circumstances. Work in the D range is amarginal pass.

E Grade: An E Grade is a marginal fail. Your work may be similar to the

description of C grade, but failing to meet the objectives of the assignment andnot satisfying the learning outcomes. Work not properly referenced.

F Grade:This is a clear fail. Inadequate literature review, not properlyreferenced. Limited attempt to apply models and concepts to circumstancesand/or inaccurate application. General failure to meet the objectives of theassignment and not satisfying the learning outcomes. Work not properlyreferenced.

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2.2 Satisfactory Completion Requirements of this Subject

In order to satisfactorily complete the requirements of this subject, the studentmust achieve an aggregate mark of at least 50% for the subject, and achieve amark of at least 40 % in the final examination. Students must reasonably

complete all assessment components other than the final examination and submitby the final week of session/ intake or by the final examination date (whichever isearlier) in order to pass the subject. Reasonable completion of an assessmentwill consider instructions given to the student including; word length,demonstration of research and analysis where required, University PlagiarismPolicy, and completion of each section/ component of the assessment. Failure toreasonably complete any assessment components to the standard specifiedabove will result in a Fail grade awarded for the subject. Assessment taskssubmitted after the due date may be penalized. Refer to Penalties for LateSubmission of Assessment policy.

2.3 Assessment Weight

Assessment Type Word Length Weighting

Due Date

1. Analysis & LiteratureReview

2,000 25% 21st April, 2007

2. Case Study Analysis 3,000 30% 16th June, 20071. Examination - 45% 7th July, 2007

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2.4 Assessments

Assignment 1 (25%) - INDIVIDUAL ASSIGNMENT

E-Procurement allows for the interaction of buyer and seller using an electronic

environment. In different countries, however, there are different laws governingthe contract and conduct between buyer and seller from a legal perspective.

In your assignment, perform an analysis of the legal requirements of contract andpurchase in your country, and how this can be supported by electronicprocurement using the various models that are available. Additionally, considerhow interpersonal interaction is also supported by eProcurement interfaces toachieve a win-win outcome for the supplying and buying organisations.

You are required to include a literature review of the key topic and as evidence ofindependent research conducted as part of this assessment.

Assignment 2 (30%) - INDIVIDUAL ASSIGNMENT

Companies today are paying a great deal of attention to the 'ethical supply chain'.This covers legal, ethical and environmental considerations. At the same time,organisations are expected to ensure suppliers are providing value and 'fitness forpurpose' in the goods and services they provide.

Select an organisation and consider a minimum of four ethical issues that wouldlikely to have a bearing upon that company's commercial relationships with itssuppliers, keeping the considerations highlighted in the above statements in mind

when you answer.

Marking Rubrics

The following will be used to assess your literature review and analysis of thequestion.

Criteria andqualities

Poor Good ExcellentPointValue

Introducing theidea: Problemstatement

Neither implicit nor

explicit reference ismade to the topicthat is to beexamined.

Readers are aware

of the overallproblem, challenge,or topic that is tobe examined.

The topic is introduced,

and groundwork is laidas to the direction ofthe report.

Up to 10points

Body:Flow of the report

The report appearsto have nodirection, withsubtopicsappearingdisjointed.

There is a basicflow from onesection to the next,but not all sectionsor paragraphsfollow in a naturalor logical order.

The report goes fromgeneral ideas tospecific conclusions.Transitions tie sectionstogether, as well asadjacent paragraphs.

Up to 20points

Continued on next page...

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Coverage ofcontent

Major sections ofpertinent content

have been omittedor greatly run-on.The topic is of littlesignificance to thequestion. Length istoo long or short.

All major sectionsof the pertinentcontent are

included, but notcovered in as muchdepth, or asexplicit, asexpected.Significance toquestion is evident.

The appropriatecontent inconsideration iscovered in depth

without beingredundant. Sources arecited when specificstatements are made.Significance isunquestionable. Thereport is a suitablelength.

Up to 20points

Clarity of writing

and writingtechnique

It is hard to knowwhat the writer istrying to express.Writing is

convoluted.Misspelled words,incorrect grammar,and improperpunctuation areevident.

Writing is generallyclear, butunnecessary wordsare occasionally

used. Meaning issometimes hidden.Paragraph orsentence structureis too repetitive.

Writing is crisp, clear,and succinct. Thewriter incorporates theactive voice when

appropriate. The use ofpronouns, modifiers,parallel construction,and non-sexistlanguage areappropriate.

Up to 20points

Conclusion:A synthesis ofideas andhypothesis orresearch question

There is noindication theauthor tried tosynthesize theinformation ormake a conclusion

based on theliterature underreview. Nohypothesis orresearch question isprovided.

The author providesconcluding remarksthat show ananalysis andsynthesis of ideasoccurred. Some ofthe conclusions,however, were notsupported in thebody of the report.The hypothesis orresearch question isstated.

The author was able tomake succinct andprecise conclusionsbased on the review.Insights into theproblem are

appropriate.Conclusions and thehypothesis or researchquestion are stronglysupported in thereport.

Up to 10

points

Citations andReferences:Proper Harvard

format

Citations forstatementsincluded in thereport were notpresent, or

references whichwere included werenot found in thetext.

Citations within thebody of the reportand acorrespondingreference list werepresented. Some

formattingproblems exist, orcomponents weremissing.

All needed citationswere included in thereport. Referencesmatched the citations,

and all were encodedin Harvard format.

Up to 10points

For assignments requiring case-study analysis:

Suitable choice oforganisation/situation for casestudy

The organisation/situation notsuitable.

The organisationchosen onlypartially relates tocase study.

A suitable organisationwas chosen.

Up to 5points

Organisation/situation is linked

to the theorypresented

The organisationand examples

chosen do notrelate to the

The organisationand examples

chosen onlypartially relates to

The organisationchosen is appropriate

to the question or thetheories/ideas

Up to 5points

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question or thetheories/ideaspresented as partof the case study

the question or thetheories/ideaspresented as partof the case study

presented as part ofthe case study

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For assignments requiring literature review:

Method forgatheringliterature reviewmaterials isprovided

Method notprovided

Method used forgathering materialsis provided andrelevant howeveronly covers some of

the materials used.

Method used forgathering materials isprovided and relevantto all materials used.

Up to 3points

Findings ofprevious researchis highlighted,including trends,gaps and themes

No trends, gaps orthemes werehighlighted basedon previousresearch in thetopic

Only some of thetrends, gaps orthemes werehighlighted basedon previousresearch in thetopic

Findings of previousresearch is describedwell and addressestrends, gaps andthemes as appropriate

Up to 3points

Expressespersonal opinion

regarding qualityand importanceof cited research

No opinion orconclusion is

provided based onprevious researchon the topic.

An opinion orconclusion isprovidedaddressing either

quality orimportance ofprevious researchon the topic.

An opinion orconclusion is providedaddressing both qualityand importance of

previous research onthe topic.

Up to 4

points

Assignment Guidelines

Assessment of postgraduate assignments is based on postgraduate standards.This means that an assignment should demonstrate evidence of goodunderstanding of what the question asks. The structure of the answer should berelevant to the question and provide evidence of critical thinking and good use of

appropriate research material. Assignments should be correctly referenced usingthe Harvard System of Referencing and Citation of Electronic Sources in line withthe guidelines provided in this Outline.

The assignment is a paper is to be prepared in no more than +/- 10% of the wordcount indicated.

Please type wherever possible, using 12 point font, Times New Roman or Arial.

Please note: Any analysis and evaluation conducted should make appropriate useof the methodologies, concepts and frameworks studied in the module.

You are also encouraged to read other sources at your discretion.

Plagiarism will not be tolerated. Please see the guides to citation,referencing and plagiarism appended to this outline.

Students must retain a copy of all assessment work submitted. Marks will notusually be modified or scaled. Feedback on assessment tasks will be returned tostudents before the final examination date.

Although student attendance records will be kept, attendance or classparticipation will not be part of the assessment for this subject.

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2.5 Examination Information

This will be a three hour paper with short answer and essay type questions. It willbebased on the set textbook readings and the content of the delivered lectures.

In order to pass the subject, a student is required to achieve a mark of at least50% in the final examination, irrespective of the marks obtained with the otherassessable elements.

Please ensure that you present for examination 15 minutes prior to the timeprovided.

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SECTION 3: CITATION & PLAGIARISM

Please see the attached guide from the University of Wales for information on howto avoid plagiarism and reference for your assignments.

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Economics Subject Outline

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