Marking Guide for the Individual Essay ECON 7110: Consumer and Firm Behaviour The University of Queensland The following is the marking guide for the individual essay. Please follow closely these criteria at the time to compose your essay to guarantee a successful outcome! Writing (15 pts). To receive high marks in this section, we are looking for a minimal amount of spelling and grammar mistakes. Also, and perhaps more importantly, we are looking for ease of understanding and logical flow of the writing. Summary (5 pts). This section is devoted to summarize the information presented in the chosen article. Other than writing something way too short or too long, it is not hard to get full marks here! Background (10 pts). Here, you need to put in context the problem presented in the article. For that purpose, you may find useful to investigate other sources in order to have a global perspective of the problem. No economic analysis is needed here. Any relevant fact or historical situation not described in the article belong to this section. Irrelevant points or summaries of abnormal length will be penalized. Analysis A (20 pts). Here is where you have to show your economic knowledge! We want to see you thinking about the main parties affected by the issue in question. You should identify any parties involved, and give a very clear description of how and why they are affected. Adequate use of economic terms and analysis will be given high marks. Moreover, diagrams are highly recommended. Illogical or far-fetched arguments here will receive mark deductions. Analysis B (20 pts). Here you have to take the analysis you have done in part A to identify any potential policy the government can use to remedy the situation at hand. You should clearly describe different policies and show how they would solve the problem. You also may want to show the effect of these policies to other related markets. One policy is not enough here to receive full marks. Detail a number of possible policies. You should also explain any possible advantages (pros) and disadvantages (cons) of each policy or regulation. Be specific as much as possible. Recommendation (10 pts). Here you take what you have done in part B and choose what would be the best policy to solve the issue introduced. It does not necessarily need to be one policy, it could be a policy mix. You do need, however, to say why you have included the policies you have over the ones you have not. Concise and logical arguments will be awarded high marks here. Diagrams (20 pts). Clever, relevant and well designed diagrams will be awarded high marks. Obviously one is not enough, a number of different diagrams showing the various situations and policy effects is recommended. Having said that, putting diagrams just for the sake of having many diagrams is not encouraged. Also, it is important to remember that we are talking about supply and demand diagrams, other types of diagrams will contribute towards the section they are enclosed in. Remember that the extension of your essay is between 2,500 and 3,000 words. The article must be in English and must have been published after January 2021. 2 Table 1: Criteria for Marking Category Excellent Good Fair Poor Writing 15 12 8 5 Summary 5 4 3 2 Background 10 8 5 3 Analysis A 20 15 10 5 Analysis B 20 15 10 5 Recommendation 10 8 5 3 Diagrams 20 15 10 5 3
