BCom in Marketing 2023
Economics 1A Brief
LECTURERS
Armand Van Drünick
BRIEF DATE
4 May 2023 @ 13:30
WEIGHTING
Economics 1A - 20%
DEADLINE
26 May 2023 @ 17:00
DURATION
1 Days (Do not include weekends or
public holidays)
Exploring, analysing, and assessing government intervention
in specific markets.
Image Source: medium.com
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OUTCOMES AND OBJECTIVES
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Students must illustrate a multi-disciplinary, innovative ability to address a problem.
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The external and internal analysis will be required as a foundation for their final offering.
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Convey knowledge and comprehension of concepts taught across the module.
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Planning, collaboration and research will be learnt and executed to achieve this brief in the short
timeframe.
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Translate their lessons from the module and apply the insights from research.
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Collect, integrate and utilise information from a variety of sources to assess meaning and
accuracy, and recognize the agendas of points of view of different purveyors of data and analysis
and use this to acknowledge the limitations of the economic analyses they provide based on the
data sources invoked to support their arguments.
●
Interpret and analyse economic data by expressing relationships between concepts learned
through graphs and explain their graphical analyses in coherent English.
THE BRIEF
The Overview:
In a free-market economy, the mechanics of demand and supply determines market outcomes such as price
and sales of goods and services. Quite frequently, however, consumers, trade unions, farmers, business
people and politicians are not satisfied with the prices and quantities determined by market demand and
supply. Their dissatisfaction leads them to put pressure on the government to intervene to influence prices
and quantities in the market. This intervention can take different forms, including price control, taxation,
subsidies, quotas, and regulation.
The public sector is an important sector of the economy and has a significant impact on people's lives. In
many countries, the government intervenes in this market to achieve various policy objectives. In this
assignment, you will analyse the effects of government intervention in any market of your choice.
1.
Choose a country where the government intervenes in a market, and describe the intervention
policies as well as the market structure. You may choose one or more of the following types of
policies:
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Price control
Subsidies
Taxation
Quotas
General Regulation (like bans, preventions, nationalisation, etc.)
2.
Analyse the effects of the intervention policies on the market, using the tools of microeconomics.
You should consider the following:
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The impact on the quantity and quality of the good/service supplied and demanded
The impact on the price of the market
The impact on the distribution of the good among different income groups
The impact on the economic efficiency of the market
3.
Discuss the advantages and disadvantages of the intervention policies. You should consider the
following:
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The extent to which the policies achieve their intended objectives
The unintended consequences of the policies
The trade-offs between equity (or social equilibrium) and efficiency (or market equilibrium)
The costs of implementing and enforcing the policies
4.
Based on your analysis, make recommendations for improving the intervention policies, or for
alternative policies that could achieve the same objectives with fewer drawbacks.
You should use at least 5 academic sources, including at least 2 peer-reviewed journal articles. You should
use proper citation and referencing format (Harvard). Your writing should be clear, concise, and
well-organised. Your analysis should be supported by relevant microeconomic concepts and models, such as
supply and demand, elasticity, consumer and producer surplus, deadweight loss, and market failure. Use
economic illustrations wherever needed.
Here are several cases that you can use in the South African context:
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Taxation: The South African government has implemented a number of tax policies to promote
social welfare and economic development. Examples include:
○ Value Added Tax (VAT): VAT is a tax on the value added at each stage of production and
distribution of goods and services. In South Africa, VAT is currently set at 15% and is a
significant source of government revenue.
○ Carbon Tax: The Carbon Tax Act, implemented in 2019, places a tax on carbon emissions
with the aim of reducing greenhouse gas emissions and promoting sustainability.
Price controls: The South African government has implemented price controls on various goods
and services to protect consumers and promote affordability. Examples include:
○ Electricity pricing: The National Energy Regulator of South Africa (NERSA) sets tariffs for
electricity distribution to ensure that prices are fair and reasonable.
○ Fuel pricing: The Department of Mineral Resources and Energy regulates the price of fuel
to ensure that prices are fair and affordable for consumers.
Subsidies: The South African government provides subsidies to various industries to promote
economic development and support social welfare. Examples include:
○ Agricultural subsidies: The South African government provides subsidies to farmers to
support agricultural production and promote food security.
○ Export incentives: The Department of Trade, Industry and Competition provides export
incentives to South African businesses to promote international trade and investment.
Quotas: The South African government has implemented quotas in various industries to promote
equity and address past injustices. Examples include:
○ Employment equity: The Employment Equity Act requires companies to meet certain
quotas for employment of previously disadvantaged groups to promote diversity and
equity in the workplace.
○ Mining ownership: The Mining Charter sets quotas for black ownership of mining
companies to promote equity and address past injustices in the industry.
Regulation: The South African government regulates various industries to promote competition,
protect consumers, and promote social welfare. Examples include:
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Telecommunications regulation: The Independent Communications
Authority of South Africa (ICASA) regulates the telecommunications
industry to ensure fair competition and protect consumers.
Banking regulation: The South African Reserve Bank regulates the banking industry to
promote financial stability and protect consumers.
These are just a few examples of the South African government's implementation of intervention tools in
specific markets. Government intervention in South Africa has been shaped by the country's history and
ongoing efforts to address past injustices and promote social welfare.
For international cases, here are a few other examples:
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Agricultural subsidies in the United States: The U.S. government has long provided subsidies to
farmers to support agricultural production and stabilise food prices. These subsidies take various
forms, including direct payments to farmers, crop insurance, and price supports. Critics argue that
these subsidies distort markets and benefit large agribusinesses at the expense of smaller farms
and taxpayers.
Nationalised healthcare systems in Europe: Many European countries, such as the United
Kingdom, France, and Germany, have nationalised healthcare systems in which the government
provides and funds healthcare for all citizens. Proponents argue that these systems provide
universal access to healthcare and control costs, while opponents argue that they result in long
wait times and lower quality care.
State-owned enterprises in China: The Chinese government has a significant presence in many
industries, with state-owned enterprises accounting for a large share of economic activity. These
enterprises are often given preferential treatment by the government, and critics argue that they
distort markets and hinder competition.
Rent control in Sweden: Sweden has long had rent control policies in place to protect tenants from
high housing costs. Proponents argue that these policies promote affordable housing and prevent
gentrification, while opponents argue that they reduce the supply of rental housing and result in
lower-quality housing.
Carbon pricing in Canada: The Canadian government has implemented a carbon pricing scheme to
reduce greenhouse gas emissions. This scheme imposes a price on carbon emissions, which
incentivizes companies to reduce their emissions or pay for the right to emit. Proponents argue
that this scheme promotes environmental sustainability and encourages innovation, while
opponents argue that it places a burden on businesses and consumers.
These are just a few examples of government intervention in specific markets around the world.
Government intervention can take many forms and can have varying impacts on markets and societies
What is Required
Each group must submit a written assessment and present their work to the lecturers. For each module the
expectations of the written assessments are below:
Pages
Max 10 pages.
Document
Submission
One document to be submitted on Moodle containing sections addressing each
component of the business plan presented in a coherent, systematic and sequential
manner.
Referencing
Original work is expected. When information or ideas have been used from another
source, R&Y Harvard referencing should be used throughout the document.
One List of Images and One List References/Bibliography should be provided at
the end of the document. At least five sources are expected from you to use in your
research.
Additional
Documents
1.
2.
3.
4.
Professional
Conduct
Groups of 3
Formation
You may include appendices where deemed necessary.
One Turnitin Report is expected to be included as an appendix in the
submission.
Each group member should download the R&Y plagiarism declaration, sign it
and ALL THREE plagiarism signed pages should be included in the document
as one appendix.
R&Y Cover Page and an additional cover page should you wish to craft one.
All of the lectures and set tutorials are compulsory and will contribute to the
professional conduct of each student.
You are free to partner up with any of your peers to form a group of maximum
three people. You will not be able to change groups throughout the course of the
project. Each member of the group will be required to submit a written assignment,
but only one of you has to submit the assignment on Turnitin. You can use this link
to insert the names of your group members to confirm your group. The document
will close by Friday 5 May at 17:00.
Peer review
You will also submit a survey revolving around the quantity, quality, contribution,
and effort that your peers have shown in their work. Your peers will also do the
same for you. The peer review mark will be determined by the final score that your
peers have given you from this survey. A link to this survey will be provided after
the final deadline. Any students who have a score close to zero will be further
investigated and are subject to external penalties.
You or your group will submit a written assignment that needs to include well thought out answers to
address all the requirements set out above. Your submission must be a maximum of 10 pages (excluding
your Cover page, Index and Bibliography). Marking will stop at the end of the 10th page. You
must use a font size of 12, font style of Lato, and have 1.5 spacing. You will need to follow
these instructions regarding the document submitted on Moodle:
1. Submit the document in PDF format.
2. Label the document Name_Surname_Name_Surname BCom Entrepreneurship Brief Submission e.g.
Masonge Sithole_Kabelo Dube_Nono_Jonas_ BCom_Entrepreneurship_Submission.
3. Submit the document on the Moodle submission tab located on the Entrepreneurship page.
LEARNING ACTIVITIES & SCHEDULE
Lectures
All of the lectures from your Economics from Week 1 until Week 6.
Soft Deadlines (Tutorials)
On 15 May, you will have a review session with the lecturer to discuss the direction of your research as well as
the progress of your final submission. While there will not be any deliverables expected for this review session,
you still need to show that your group has done a significant amount of research to ensure that there will be
enough time for you to complete your assignment. Failure to attend this review session without any supporting
documentation pertaining to your absence will result in a 15% penalty to your singular final mark for this
assignment.
MATERIALS / EQUIPMENT YOU WILL NEED
● Computers
● Digital Software
○ Microsoft Word or Pages are necessary for the completion of the project.
○ Adobe
● Internet access and connectivity to assist with research.
REFERENCES & RECOMMENDED READING (yes books!)
Recommended Reading
● Mohr, P. 2020. Economics for South African Students. 6th ed. Van Schaik Publishers, South
African.
● Hubbard, RG, and O’Brien, AP. 2016. Economics. 6th ed. Pearson Education Limited.
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Readings prescribed for the courses and additional readings provided by the respective
lecturers.
ASSESSMENT CRITERIA
Assessment Criteria
Poor
Minimal
Sufficient
Above
Average
Excellent
Professional Conduct
Student has
shown poor
conduct
throughout the
semester’s
lectures and
tutorials. (0-2
marks)
Student has
done the
minimal effort
to be engaged
and attend
lectures (3-4
marks)
Student’s level
of engagement
and attendance
throughout the
semester was
sufficient. (5-6
marks)
Student has put
in great effort to
attend lectures
and tutorials as
well as be
engaged in
discussions. (7-8
marks)
Student has
shown excellent
and consistent
professional
conduct in
terms of
attendance and
engagement.
(9-10 marks)
Group peers
deemed the
student’s
contribution,
quality of work,
and presence to
be poor and
zero effort was
shown by the
student to
support peers
(0-6 marks)
Group peers
deemed the
student to have
done minimal
effort to be
present during
meetings and to
complete their
deliverables for
the assignment
(7-12 marks)
Group peers
deemed the
student’s
contribution to
be sufficient
enough to have
a significant
effect on the
final submission,
as well as to
support peers
(13-18 marks)
Group peers
deemed the
performance of
the student to be
above
satisfactory level
and that they
actively
supported them
when necessary
(19-24 marks)
Group peers
were very
satisfied with
the
contributions
and efforts of
the student and
felt that they
were supported
throughout the
assignment
(25-30 marks)
●
●
●
Has the STUDENT
attended all lectures?
Has there been an
adequate level of
engagement in tutorials?
Has the student engaged in
class discussions?
Peer Evaluation
●
●
●
●
●
Did the TEAM MEMBER
attend group meetings
regularly and arrived on time?
Did the TEAM MEMBER
contribute meaningfully to
group discussions?
Did the TEAM MEMBER
contribute to the project as
agreed upon and on time?
Did the TEAM MEMBER
Prepares work in a quality
manner?
Did the TEAM MEMBER
Weight Mark Mark
Awarded
10%
10
30%
30
●
demonstrate a cooperative
and supportive attitude?
Did the TEAM MEMBER
contribute significantly to the
success of the project?
Market Structure and
Intervention Description:
●
●
Has the group
effectively identified
and described the
market structure that
they are analysing?
Has the group
effectively identified
and described the
intervention policy in
their case study?
Market Outcomes Analysis
●
●
Has the group
accurately analysed
and/or illustrated the
change in the quantity
and quality of the
good/service supplied
and demanded?
Has the group
accurately analysed
and/or illustrated the
change in the
There was no
description or
the group has
made poor
effort to
describe the
market
structure and
the intervention
tool. (0-1 mark)
The group has
made minimal
effort to
describe the
market
structure and
the
intervention
tool. (2 marks)
The group has
made sufficient
effort to
describe the
market
structure and
the intervention
tool. (3 marks)
The group has
made a good
effort to
describe the
market structure
and the
intervention
tool. (4 marks)
The group has
made an
excellent effort
to describe the
market
structure and
the intervention
tool. (5 marks)
There was no
analysis or
illustration, or
the group has
made poor
effort to analyse
or illustrate the
effects on
market
outcomes. (0-3
mark)
The group has
made minimal
effort to
analyse or
illustrate the
effects on
market
outcomes. (4-6
mark)
The group has
made sufficient
effort to analyse
or illustrate the
effects on
market
outcomes. (7-9
mark)
The group has
made a good
effort to analyse
or illustrate the
effects on
market
outcomes.
(10-12 mark)
The group has
made an
excellent effort
to analyse or
illustrate the
effects on
market
outcomes.
(10-12 mark)
5%
5
15%
15
●
●
equilibrium price and
the market price?
Has the group
accurately analysed
and/or illustrated the
change in the
distribution of the
good/service among the
different income
groups?
Has the group
accurately analysed
and/or illustrated the
change in economic
efficiency?
Intervention Effects
Analysis
●
●
Has the group
accurately analysed the
intended and
unintended effects of
the intervention policy
and have weighed the
positive and negative
effects against each
other?
Has the group
accurately analysed the
effects of the
intervention policy on
There was no
analysis or the
group has made
a poor effort to
analyse the final
effects of the
intervention
policy, including
intended vs
unintended, and
positive vs.
negative. (0-2
mark)
The group has
made minimal
effort to
analyse the
final effects of
the
intervention
policy, including
intended vs
unintended,
and positive vs.
negative. (3-4
mark)
The group has
made sufficient
effort to analyse
the final effects
of the
intervention
policy, including
intended vs
unintended, and
positive vs.
negative. (5-6
mark)
The group has
made a good
effort to analyse
the final effects
of the
intervention
policy, including
intended vs
unintended, and
positive vs.
negative. (7-8
mark)
The group has
made an
excellent effort
to analyse the
final effects of
the intervention
policy, including
intended vs
unintended, and
positive vs.
negative. (9-10
mark)
10%
10
●
market equilibrium and
social equilibrium?
Did the group also
consider the costs of
implementing and
maintaining the policies
in their analyses.
Recommendations and
remedies:
●
Has the group made
recommendations for
improving the
intervention policies, or
for alternative policies
that could achieve the
same objectives with
fewer drawbacks?
Economic illustrations
●
●
Are all of the graphs
created in a presentable
way?
Are all of the graphs
labelled correctly, such as
There were no
recommendatio
ns or
alternatives
suggested, or
the group’s
suggested
recommendatio
ns and
alternatives
were poorly
chosen and
described. (0-2
mark)
The group’s
suggested
recommendatio
ns and
alternatives
were chosen
and described
with minimal
thought and
effort. (3-4
mark)
The group’s
suggested
recommendatio
ns and
alternatives
were chosen
and described
with sufficient
thought and
effort. (5-6
mark)
The group’s
suggested
recommendatio
ns and
alternatives
were chosen and
described with a
decent amount
of thought and
effort.(7-8 mark)
The group’s
suggested
recommendatio
ns and
alternatives
were chosen
and described
with an
excellent
amount of
thought and
effort. (9-10
mark)
No economic
graphs were
used to support
theories or
graphs that
were used were
of poor quality.
(0-2 marks)
Economic
graphs were
used, but were
not constructed
neatly and/or
effectively.
Labels were
missing and the
graphs lacked a
Economic
graphs were
used
sufficiently,
although the
quality showed
room for
improvement or
shifts/movemen
Economic graphs
were used
effectively, and
most of the
elements were
of decent quality
and mostly
portray the
correct shifts
Economic
graphs were of
top quality and
labels were
sufficiently
used. An
additional and
accurate
description was
10
10%
10%
10
●
graph titles, axis labels and
curve labels)?
Do the economic
illustrations accurately
display the correct
shifts/movements that
reflect economic events as
well as the effect these
events have on market
variables?
Technical Care &
Referencing:
●
●
●
●
●
Has the written work
been presented in a
manner that is easy to
understand?
Is there a logical flow to
the structure of the
submission?
Is the format of the
document suitable for
its purpose?
Have students taken
time to format their
work?
Proofreading: Have all
spelling and grammar
issues been corrected?
The structure of
the assignment
is completely
incoherent, has
many spelling
and
grammatical
errors, and the
format needs
improvement.
(0-2 marks)
brief
description that
highlights
changes in
market
variables. (3-4
marks)
ts were not
accurately
reflecting the
economic
events in
question. (5-6
marks)
and movements
in the market.
(7-8 marks)
given to each
graph, and all
movements and
shifts follow
economic
theory. (9-10
marks)
The group
made minimal
effort to have
the structure,
grammar use,
spelling of
words, and
other technical
elements be
efficient. (3-4
marks)
The structure,
grammar use,
spelling of
words, and
other technical
elements are
sufficient, but
have room for
improvement.
(5-6 marks)
The group has
put in good
effort into the
structure,
grammar use,
spelling of
words, and other
technical
elements of the
assignments.
(7-8 marks)
The structure,
grammar use,
spelling of
words, and
other technical
elements are of
top quality and
the group
clearly showed
that great effort
was put into the
planning of the
overall
assignment,
while the
quality have
been assured
afterwards.
(9-10 marks)
10%
10
●
●
●
Has a signed plagiarism
declaration been included
by each group member?
Has the correct title
page been used?
Did the document use a
creative design that fits
the theme of the
company?
Graded Awarded
Penalties Awarded
Final Mark
/100
THE RULES
1. PENALTIES:
● If you miss the briefing session without a valid medical certificate a -15% penalty for the project
is incurred.
● ALL STUDENTS: As per your student handbook, there is a zero-tolerance policy for late
submissions. This means that late submissions automatically get awarded 0%. Incomplete
submissions will not be assessed (0%).
● Further external penalties can be applied to the assessment mark of students that contribute
little to none of the content and construction of the final submission. The penalty is subject to the
feedback of other peers, the judgement of the lecturers, and the nature of the role of the student
in the project. Penalties will range from 20% to 100% (to a minimum final mark of 0%).
● Your final grade is subject to penalties based on bad professional conduct, such as very low
class/tutorial attendance, poor behaviour and attitude towards lecturers and peers, etc.
2. EXTENSIONS:
● Must be applied for 48hrs in advance and is granted at the discretion of your lecturer. You must
make use of the link to the extension request form on the Moodle page of the module you want
an extension for. You only have THREE extensions per year, across all modules.
● Students will be able to apply for an extension using a medical certificate or affidavit. An affidavit
is a sworn statement put in writing. When you use an affidavit, you're claiming that the
information within the document is true and correct to the best of your knowledge. Like taking an
oath in court, an affidavit is only valid when you make it voluntarily and without any coercion.
3. PLAGIARISM: AKA, academic/creative theft.
● If you have been found guilty of this, you will face the consequences according to Red & Yellow’s
plagiarism policy.
● Never submit work that contains elements from template-websites such as ‘Canva’ or ‘Freepik’.
● You must credit all artists/creatives/authors in your process work & visual research. Any stock
imagery used must be discussed with your lecturer and, you guessed it, referenced in your
process work.
● Never submit old work or the same work for a different module- this is ‘self-plagiarism’.
4. MODERATION:
Some assessments will be internally moderated therefore you can expect your moderated assessment
results 4 weeks after the submission date.
5. SUBMISSION PLATFORMS: You may only submit on Moodle or the Secure Shared Student Drive for a
formal assessment submission. Your lecturer will indicate in your brief which of these two you are
allowed to make use of – you will be penalised if you use the wrong platform, so please double check. No
other submissions will be accepted. Work submitted on any other platform other than Moodle or the
SSSD (depending on your brief) will count as a non-submission, resulting in 0%. If a student submits on
the SSSD, a note needs to be added to Moodle to indicate the location of the submission. This submission
will carry a timestamp that should reflect the timestamp on the SSSD (submitted work should not be
added or altered after the submission date and time). To get a direct link to your shared drive email your
programme administrator or lecturer.
SUBMISSION REQUIREMENTS
✄ Please sign, tick that you have submitted all requirements, cut this section off and attach to the back of a
physical submission.
On Moodle*
●
R&Y Cover Page
✓
●
Assignment Essay: PDF file
✓
●
●
Written Assignment
✓
●
List of References
✓
Signed Plagiarism Declaration by ALL GROUP MEMBERS
Student signature
Student signature
Student signature
✓