BUS414 UK vs EU Economic Performance and Commercial Contract Essentials, Assessment 1

Module Learning Outcomes Assessed

Communication (MLO 05)

Communicate your arguments/reasoning, orally and/or in writing in order to explore application of knowledge in a legal and economic environment in multicultural and/or international settings.

 Discipline Knowledge (MLO 07)

Explain theories, concepts and facts pertinent to business environment, economics and law.

Discipline Skills (MLO 08)

Use established knowledge, techniques and tools in the areas of business environment, economics and law for practical purposes associated with these disciplines.

1. Aims and Objectives

The objective of this first summative assessment is to assess your ability to evaluate two important aspects of business environment – the economic performance of a country and contractual obligations. You will examine the economic performance of UK and a selected economy and analyse the factors that influence their performance. You will additionally be assessed on contractual obligations and the relevance of a contract within a commercial environment.

You must answer both questions below. They relate to diverse aspects of business environment.  They are designed to engage you in reading, research and critical analysis. In order to successfully answer each question, you will be expected to display a competent knowledge and explanation of the relevant topic coupled with evidence of understanding and research.

In order to answer both questions, you will need to select one current member state of the European Union (“the EU”), which will be utilised as a comparator to the UK.

2. Task

You must answer both questions. Each question will be marked out of 50 marks. The word count for each question is 700 words;

Question 1

Produce an assessment that compares the economic performance of the UK and an EU member state since 2021 by examining the data on GDP growth rates. Analyse the reasons for the observed differences/similarities in their growth performance. Discussion of GDP expenditure components and economic policies is expected as and when relevant.

Arguments should be supported by secondary data and graphs.

(50 marks)

Question 2

Assess the essential components of a valid commercial contract, emphasising its importance within a business environment. With reference to examples from the English legal system and an EU member state, discuss what legal factors influence contractual enforceability and economic performance in a business environment.

Arguments supporting the essential components of a commercial contract should be supported by utilisation of the English common law.

(50  marks)

3.  AI Guidance

For this assessment, you may only use AI tools for fact checking. However AI use is not mandatory. All AI use must be clearly marked on a mandatory AI Log and referenced appropriately.

Fact checking covers the use case of cross-referencing facts or finding additional sources to verify information.

If you generate text using AI and present it as your own work, it’s academic misconduct. If you use AI to generate text then it must be cited as you would any other source. (See guidance here.)

4.  Additional Guidance

i)    Teamwork

Not applicable – This is an individual assignment.

ii)  Instructions for completion of the first summative assessment.

You should present your answer to Question 1 in the form of a report and support your arguments by reference to secondary data and graphs. Your answer to question 2 should be presented in the form of an essay. The word count for each question is 700 words. The overall word count for both questions is 1400 words. Credit will be given where you have clearly shown independent research by reference to other relevant textbooks, internet resources and legal journals/articles – In such event you should provide a detailed bibliography identifying your sources. The bibliography does not form part of the overall word count.

Your assessment must be electronically submitted via Blackboard by 12 noon (UK time) on Friday 21^st March 2025. It should be submitted to Blackboard in the “Submit my Work” sub-folder within the “Module Assessment and Submission” folder in Blackboard. No other method of submission will be accepted. You are strongly recommended to complete your assessment in good time for the deadline.

iii) Research and documentation

Research the topic thoroughly, aim to support your arguments with evidence, using appropriate terminology to your discipline.

iv) Referencing

Provide an accurate and complete list of sources used. All quotes, and resources used must be referenced correctly and consistently, using the Harvard system. (See guidance here.)

NOTE: If you generate text using AI and present it as your own work, it’s academic misconduct. If you use AI to generate text then it must be cited as you would any other source. (See guidance here.)

5. Marks and Feedback

i) What do I need to do to pass?

You need to achieve a “Band 2” grade to pass this First summative assessment (see Rubric below), achieved through your combined criteria scores.

ii) Marking criteria

• Knowledge and explanation of both the subject area and chosen topic.
• Application and communication of discipline skills.
• Work as a whole.

All the above criteria have the same weighting.

iii) Example questions to evaluate your work

(Threshold pass)

• Have you identified the relevant areas of markets, economics and law which are applicable to each of the two questions?
• Have you displayed a suitable knowledge and explained each topic which underpins the relevant areas?
• Have you communicated your work effectively and evidenced your learning in answering each question?
• Have you applied a range of techniques, skills and tools derived from your learning experience in answering each of the two questions?
• Have you explored each topic under discussion and addressed criticality?
• Have you checked your work for spelling, grammar and ensured that your referencing is appropriate and relevant?

6. Rubric

Self-study/preparation for the assessment

To undertake this assessment successfully it should take you about 16 hours over the course of the term, so you should plan to spend around 2 hours per week working on this project.

How to address Question 1 on Markets:

1. DO NOT give detailed theoretical explanation. This does not attract any marks
2. Provide graphs from Trading Economics presenting data on GDP growth rates (%) data NOT GDP (£m).
3. Graphs should present both quarterly GDP growth rates & Full year GDP growth rates for both countries
4. Examine each year’s performance (2021 – now) in a separate paragraph.
5. For example, for 2021:

• Describe & compare both countries GDP growth rates.
• Analyse what factors caused this observed similarity or difference in their growth performance.. Those factors can be: changes in the relevant expenditure components (C, I, G, X, M); fiscal/monetary policies; changes in exchange rate, etc….
• Provide specific/numerical data on those relevant expenditures, policies, etc..
• Cite source of numerical data whenever you refer to it in the text.
• Policies and Expenditure components are NOT separate sections. They are factors to be discussed in the relevant year’s examination.

Important Student Information & Support:

What if you need support with academic skills?

The Academic Skills Team are available to support you with academic writing. They hold regular sessions and are available for individual appointments. Visit their website.

What is academic integrity?

It is the practice of approaching academic and scholarly work honestly, by completing your own work, by attributing and acknowledging sources when necessary and by not relying on dishonest means to gain advantage. (see guidance here).

What is plagiarism?

Using without acknowledgement another person’s words, ideas, tools, products etc. and submitting them for assessment as though it were your own work; for instance, by copying, translating from one language to another or unacknowledged paraphrasing. Plagiarism is theft of another’s intellectual property.

What if you have extenuating circumstances?

Extenuating circumstances are defined as serious unforeseen, unpreventable circumstances that significantly disrupt your ability to complete an assessment. If you need to bring extenuating circumstances to the attention of the University, then you are advised to contact ASK Regent’s: ask@regents.ac.uk and your Module Tutor/s in the first instance. You must also complete an Extenuating Circumstances Request Form in advance of the set assessment deadline and submit this, together with the appropriate documentation via this link.

What if you submit your coursework late?

Students should submit all coursework by the official submission deadline. Coursework that is submitted up to and including 3 working days after the official submission deadline will be accepted and marked. This applies to students submitting at the first attempt, and to those re-submitting (where an Extenuating Circumstances Claim has been agreed). If it is of a ‘pass’ standard, the coursework mark will be capped at 40% UG. Coursework that is either a resit or retake and is submitted late will not be accepted or marked. Coursework submitted after 12:00 UTC (Noon) the third working day of the official submission deadline will not be accepted and will receive a mark of 0%.

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What if you have or need a Student Support Agreement (SSA)?

If you have a disability and need special arrangements for any assessment, please contact the Student Support & Welfare via email: studentsupport@regents.ac.uk

Please note: As a student you have the responsibility to inform the Student Support team as well as the lecturer of any requirements you may have before the assessment is due. If you have an SSA that allows additional time, please contact your tutor one week in advance at the latest.

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