EXPLORING MICROECONOMICS
Assessment type: Coursework component – Individual Report
Weight: 50% of total module assessment
Length: Your report should not exceed 2,000 words
This assesses the following Learning Outcomes (LOs 3,4,5,6):
3. Communicate effectively in an appropriate format in a clear and concise manner using a range of media, which are widely used in business and economics.
4. Reflect on personal capabilities and manage and prioritise own study time to meet set objectives.
5. Demonstrate logical economic thinking, including how to structure a coherent argument with conclusions linked to evidence.
6. Show an awareness of ethical constraints and dilemmas in relation to personal and national beliefs and values.
ASSESSMENT TITLE:
Aviation: Covid 19 & future challenges
Recent months have seen a huge decline in passenger numbers due to the Covid 19 pandemic. Governments have closed borders, and consumers have become cautious about travelling.
Produce a briefing paper to a client who is exploring the possibility of operating a new low-cost passenger route in the European market.
Your client needs you to discuss the key challenges facing this industry.
Specifically, your client is keen that you examine the following issues in your report:
1. Consumer behaviour
You will need to focus on changes in the European market since the start of last year (2020), paying attention to the decline of routes and the collapse of passenger numbers. This section can pay attention to the concepts of demand and elasticity.
2. Market structure & firm behaviour.
Here you need to explain how firms have behaved, with a focus on the reaction of airlines and tour operators. The concepts of price and non-price competition will be helpful here.
3. Future trends.
In this section, you will consider some of the future challenges facing the sector. Specifically, you will need to be aware of the growing costs caused by new safety regulations environmental impact of aviation, and the possible measures that governments might take that could help passenger numbers to increase.
Throughout your report, you will need to use data and indicators, so it is important that you justify your choice of indicators and show how they explain what is happening.
ASSESSMENT CRITERIA:
a. Appropriate length (ideally no more than 2,000 words, which excludes the bibliography and executive summary), format and structure. You must provide full references for all your sources.
b. Your work should be grammatically sound; please proof-read or spell-check before submission.
c. Evidence of adequate research and the use of an appropriate range of data sources and data presentation formats (graphs, charts, figures and tables, as relevant).
d. Analysis which focuses on the question requirements.
e. A brief Executive Summary and Conclusion, each of no more than 250 words.
