Business Economics (BUSS 20003) – Fall –2020- CW (2) –All – QP

MEC_AMO_TEM_035_02 Page 1 of 13

Instructions to Student

General Instructions/information for the students for completing the assignment:

• Answer all questions.

• Deadline of submission: 10th /January /2021 23:59

• The marks received on the assignment will be scaled down to the actual weightage

of the assignment which is 50 marks

• Formative feedback on the complete assignment draft will be provided if the draft is

submitted at least 10 days before the final submission date.

• Feedback after final evaluation will be provided by 24/01/2021

Module Learning Outcomes The following LOs will be achieved by the students after completing the assignment successfully:

1. Analyze macroeconomic concepts with respect to the business organizations. 2. Discuss and debate the concepts of resource allocation, utility and consumer behaviour.

Assignment Objective

A critical analysis of Macroeconomic and resource allocation concepts with respect to Malaysia’s

Economic Journey towards Growth, Crises and Development (Case Study).

Assignment Tasks

The Assignment has a proposal (Task 1) and Case Study (Task 2) aspects that require responses

/answers .

1) Task 1

Submit a work proposal for this assignment on or before 1/12/2020 (23:59) which must include:

• Understanding of deliverables – a detail description of deliverables.

• General overview of proposed plan – initial understanding of solution to task2.

• Timeline for completion of the given tasks.

The work proposal must be submitted in a word file through the link available in Moodle.

( 5 Marks)

IN SEMESTER INDIVIDUAL ASSIGNMENT

Module Code: Module Name: Business Economics

Level: 2 Max. Marks: 100

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2) Task 2 (95 Marks)

Task-1 Case Study Analysis:

Malaysia’s Economic Plan: Growth, Crises and Development

Until 1963, when the country gained independence from British rule, Malaysia’s domestic

economy had been supported by its strategic location on the Strait of Malacca, a narrow passage of water

to the south of the Malay Peninsula that functions to this day as the main shipping channel between the

Indian and Pacific Oceans. The occupying powers exerted a significant degree of control over goods that

passed through the strait, bringing items such as spices and porcelain into the Malaysian market and

establishing the island as a lucrative trading destination. Malaysia’s strategic geographic position was

bolstered by its natural resources, which include large tin, oil and natural gas deposits, along with an

abundance of rubber and palm trees. “Natural resource exploitation agriculture was part of colonial trade

patterns, from which Malaysia historically had not benefitted much. It was more the occupying powers

that benefitted from their riches. As such, these industries, while enough to subsist on post-

independence, would not catalyze the level of recovery and growth that Malaysia sought. Moreover, the

prices of Malaysia’s natural resources were extremely volatile, meaning any economic progress was

contingent on positive market movement. Fluctuations in the price of oil [also] meant the Malaysian

economy was highly vulnerable to negative external shocks. Rubber suffered particularly heavily in the

1960s, as the rise in usage of its synthetic alternative drove prices down: this weakened Malaysia’s rubber

production sector, in which a third of the native Malay population worked. Constant competition to keep

prices low propagated poverty among these workers, making both economic expansion and social

mobility nearly impossible.

For these reasons, in the 1970s, policymakers decided that a transition to a third-sector-driven

economy was in order. It became very clear that manufacturing in particular was really the key to

industrialization; commodity dependence was perpetuating underdevelopment. This tactic proved fruitful

for the Asian Tigers, which had undergone a similar transformation a decade earlier. To achieve this

evolution, the Malaysian Government invested heavily in manufacturing-based industries, particularly

electrical and electronics products, which are seen today as the “spearhead of Malaysia’s industrialization

drive”. Alongside domestic funding, the Malaysian leadership advocated strongly for foreign direct

investment in the manufacturing sector, which was led predominantly by Japanese and American

conglomerates. The government’s diversification plan was successful, resulting in the country posting

annual GDP growth of more than seven percent throughout the late 1980s and early 1990s. GDP

expansion peaked in 1996, reaching 10 percent – an extraordinary feat for a country that had been under

occupation 33 years earlier. The plan-driven [economic] approach was certainly part of the success of the

East Asian economies. South Korea is maybe the best example… In the 1950s, it was one of the poorest

countries in the world, then it caught up at incredible speed. South Korea became a role model for

Malaysia [in that regard].”

However, the country’s Asian Tiger aspirations were brought crashing down by the 1997 Asian

financial crisis. This was initially caused by the collapse of the Thai baht in July that year, but contagion

quickly spread across South-East Asia as stock markets were devalued and currencies, including the

Malaysian ringgit, were heavily traded. Over the following six months, the ringgit lost 50 percent of its

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value, falling to a low of MYR 4.57 ($1.10) to the dollar in January 1998. To prevent the currency from

collapsing entirely, Malaysia’s prime minister introduced strict capital controls and an MYR 3.80 ($0.92)

peg to the dollar, which remained in place until 2005. By that point, though, the damage to the country’s

economic growth had been done. Prior to the crisis, between 1990 and 1996, Malaysia had an average

GDP growth of 9.48 percent. By contrast, in 1998, Malaysia’s GDP shrank by 7.4 percent – a far cry from

previous gains. The burgeoning manufacturing industry shrank by nine percent, while the construction

sector plummeted by 23.5 percent. The crisis also contributed to a loss of foreign investor confidence,

which stemmed from the government’s decision to permanently suspend international trading of

Malaysia-listed shares, effectively trapping $4.47bn worth of shares in the country’s fragile financial

system.

Along with productivity issues, Malaysia is also plagued by corruption, which is a key contributing

factor in its entrapment at emerging economy level. In its latest Corruption Perceptions Index,

Transparency International scored the country 47 points out of 100, with zero being highly corrupt.

Comparatively, Taiwan scored 63, Hong Kong 76, and Singapore 85. In a 2017 survey by the same

organization, 60 percent of Malaysian citizens said they believed the government was performing poorly

in tackling corruption, while 23 percent said they had been forced to bribe a public official.

In recent months, evidence has begun to emerge that Malaysia is taking action on the structural

issues that are holding its economy back. According to current finance minister, Lim Guan Eng, the

government has saved MYR 805m ($194m) since May 2018 by renegotiating infrastructure projects

plagued by corruption – funds that can now be invested into new developments. The administration’s

perceived commitment to transparency and its desire to tackle fraudulent practices has also drawn in

overseas investors: FDI has increased by 48 percent over the past 12 months. In a bid to boost

competitiveness and the ease of doing business, the government brought in a new sales and service tax

(SST) in September 2018 as a replacement for the now-defunct goods and services tax. The majority of

essential consumer items, including fresh food, medicine, personal hygiene products and vehicles, are

exempt from the SST, a move that will substantially bring down the cost of living for most Malaysians. This

will leave them with more disposable income to spend, subsequently encouraging economic growth

through an uplift in purchasing power. Similarly, businesses with an annual turnover of less than MYR

500,000 ($120,500) will not be liable to pay the SST, a move that is hoped to stimulate the start-up and

SME sector. According to Lim, these various policies will facilitate Malaysia’s entry to Asian Tiger status

within the next three years. Okafor, meanwhile, is confident that the country is back on an upward curve,

citing average GDP growth figures of 5.5 percent between 2010 and 2017. What’s more, foreign direct

investment hit a seven-year high in March, reaching MYR 21.73bn ($5.24bn). “If Malaysia remains on a

strong growth trajectory for some time to come, it will certainly be a strong contender as one of the Asian

Tigers,” (World Finance 2019).

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Task 2 : Answer ALL questions

Question 1.

Discuss any four macro-economic indicators with a detailed illustration from the case

study. Highlight the key contributors’ to a country’s economic development and

economic growth using Malaysia's case , highlighting the differences between the two

aspects .

(30 marks)

Question 2.

Using illustrations from the case , highlight the possible benefits and challenges that faced Malaysia’s Economic growth . ( 25 marks)

Question 3.

Explain any three benefits a country could gain from ‘free trade’ policy .

Discuss any three reasons why countries choose to impose barriers to free trade with

other countries. (25 marks)

Question 4.

Complete the online course (MOOC) “Micro Economics Competition in the Market Place”

through following link and attach the image of completion certificate with your assignment.

Write a reflection paragraph about your learning and understanding from the online course.

Course Link: https://alison.com/course/microeconomics-competition-in-the-marketplace (10 marks)

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Rules & Regulations:

• All resources should be cited using CU Harvard style.

• The final assignment must have a Title page, Table of Contents, References/ bibliography using

CU Harvard Style and page numbers.

• Title Page must have Assignment Name, Module name, Session, your name, ID, and the name of

the faculty.

• Softcopy in word format is to be submitted through Turnitin link on Moodle.

• Viva will be conducted after the assignment submission as per the dates informed earlier.

Guidelines:

• Assignment must be computer typed.

➢ Font – Times New Roman

➢ Font – Style – Regular

➢ Font – Size – 12

➢ Heading should be with Font Size 14, Bold, Capital and Underline.

➢ Number of words between 1200-1500 words.

• Explain with suitable diagrams wherever required. Diagrams must be drawn using suitable

software or by pencil.

• Each student has to do the assignment individually / Students have to do the assignment

collaboratively and each student should write a brief reflection on their contribution and learnings

from group work.

• You can refer books in E-Library or use internet resource. But you should not cut and paste

material from internet nor provide photocopied material from books. The assignment answers

should be in your own words after understanding the matter from the above resources.

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The following evaluation criteria shall be applicable to this Assessment :

Evaluation Criteria Marks

Allotted

TASKS:

Task 1.Proposal

5

Task 2 :Case Study and MOOC

Question 1.

Discussion of any four macro-economic indicators with a detailed illustration from

the case study. Highlight the key contributors to a country’s Economic

Development and economic growth using Malaysia's case ; highlighting the

differences between the two aspects .

30

Question 2.

Highlight the possible benefits and challenges that Malaysia faced in its quest for

economic growth , using illustrations from the case study

25

Question 3.

Explain any three benefits a country could gain from ‘free trade’ policy .

Discuss any three reasons why countries choose to impose barriers to free trade

with other countries.

25

Question 4.

Complete the online course (MOOC) “Micro Economics Competition in the Market

Place” through following link and write a reflection of your learning and

understanding from the online course.

10

Referencing (Coventry Harvard Style) and Formatting 5

Total Marks 100

Assessment Evaluation Criteria

The evaluation grid given below shall be applicable to this module :

Business Economics (BUSS 20003) – Fall –2020- CW (2) –All – QP

MEC_AMO_TEM_035_02 Page 7 of 13

Classification

And % Range <to be given

as per requirement> Reflection and critical

analysis. Knowledge and

Understanding/

Application of Theory Evidence of Reading Referencing and

Bibliography Presentation, Grammar

and Spelling

Outstanding

91-100

Highly competent

analytical skills and

reflective practice,

demonstrating personal

learning and growth,

insight into required

professional values and

principles and professional

development planning.

Extensive knowledge and

depth of understanding of

principles and concepts

and /or outstanding

application of theory in

practice.

Evidence of reading an

extensive range of

educational

literature/research and

where applicable

workplace strategies,

policies and procedures.

Accurate referencing and

bibliography correctly

using appropriate

referencing style

Excellent presentation,

logically structured, using

correct grammar and

spelling, excellent cross-

referencing and links to

supporting evidence

Excellent

81–90

Strong analytical skills and

reflective practice used,

demonstrating personal

learning and growth,

insight into required

professional values,

principles and

competencies and

professional development

planning.

Excellent knowledge and

understanding of principles

and concepts and /or

excellent knowledge and

understanding of the

application of theory in

practice

Evidence of reading a wide

range of educational

literature/research and

where applicable,

workplace strategies,

policies and procedures.

Appropriate referencing

and bibliography correctly

using appropriate

referencing style

Good presentation,

competently structured,

using correct grammar and

spelling, clear and easy to

use links to supporting

evidence

Very Good Quality

71-80

Good use of analytical skills

and reflective practice

demonstrating personal

learning and growth,

insight into required

professional values,

principles and

competencies and

professional development

planning.

Good knowledge or key

principles and concepts

and/or good knowledge of

the application of theory in

practice

Evidence of reading a good

range of educational

literature/research and

where applicable workplace

strategies, policies and

procedures.

Generally well referenced

with correct use of the

appropriate referencing

style

Reasonable presentation,

completely structured,

acceptable grammar and

spelling, acceptable links to

supporting evidence

Good (Acceptable)

61-70

Acceptable use of analytical

skills and reflective practice

demonstrating personal

learning and growth,

insight into required

professional values,

principles and

competencies and

professional development

planning.

Acceptable knowledge of

key principles and concepts

and/or knowledge of the

application of theory in

practice

Evidence of reading an

appropriate range of

educational

literature/research and

where applicable, relevant

workplace policies and

procedures

Adequate referencing.

Generally accurate use of

appropriate referencing

style

Adequate presentation and

structure, acceptable

grammar and spelling,

adequate links to

supporting evidence

Adequate/ Satisfactory

51-60

Adequate use of analytical

skills and reflective practice

demonstrating personal

learning and growth,

insight into required

professional values,

principles and

competencies and

professional development

planning.

Adequate knowledge of key

principles and concepts

and/or satisfactory

evidence of the application

of theory in practice.

Evidence of minimal

reading of educational

literature/research and

where applicable relevant

workplace policies and

procedures

Adequate referencing.

Appropriate referencing

style used but may contain

some inaccuracies.

Weak presentation ,

satisfactory structure,

grammar and spelling, links

to supporting evidence

Weak /Poor

(all learning outcomes not

adequately met)

0-50

Little use of analytical skills

and reflective practice

demonstrating personal

learning and growth,

insight into required

competencies and/or

professional development

planning. Professional

values and principles not

reflected in the submission.

and/or

Insufficient/no use of

analytical skills and

reflective practice

demonstrating personal

learning and growth,

insight into required

competencies and

professional development

planning

Little evidence of

knowledge of key

principles or concepts

and/or little evidence of

the application of theory in

practice

and/or

No evidence of knowledge

of key principles or

concepts and/or no

evidence of application of

theory in practice

Little or no evidence of

reading outside of the

course textbook and/or

reference to relevant work

place policies and

procedures

and/or

No evidence of reading

outside of the course

textbook and/or reference

to relevant workplace

policies and procedures

Little or no referencing,

incorrect style, or very

inaccurate use of

appropriate referencing

style

Poor presentation,

grammar and spelling, links

to supporting evidence

and/or

Unacceptable

presentation, grammar

and spelling, structure is

very poor, links to

supporting evidence

Business Economics (BUSS 20003) – Fall –2020- CW (2) –All – QP

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Important Policies to be followed

1. Student Academic Integrity Policy*:

• MEC upholds the spirit of academic integrity in all forms of academic work and any form of

violation of academic integrity shall invite severe penalty. Any benefit obtained by indulging

in the act of violation of academic integrity shall be cancelled.

• MEC also reserves the right to notify the appropriate law enforcement authorities of any

unlawful activity and to cooperate thereafter in any investigation of such activity.

• Faculty can conduct a viva to investigate and ascertain that the work submitted is student’s

own work as per the guidelines for the same. A student can be given a maximum of 2

chances to attend the viva in such cases. It is expected that the student attends the viva

during the first chance itself unless due to extenuating circumstances. If the student does

not attend the viva in spite of being given 2 chances and fails to submit valid reasons,

he/she will be awarded a fail in the module and this shall be counted as a case of academic

integrity violation.

All cases of violation of academic integrity on the part of the student shall fall under any of the below

mentioned categories:

1. Plagiarism

2. Malpractice

3. Ghost Writing

4. Collusion

5. Other cases

If the student fails a module and has a proven case of academic integrity violation in this module,

the student is required to re-register the module. This is applicable to first and second offence of

academic integrity violation of plagiarism type

1.1. First Offence of Academic Integrity Violation:

1.1.1. Plagiarism

a. If a student is caught first time in an act of academic integrity violation during

his/her course of study in any assignment other than project work and if the type

of violation is plagiarism, then the student will be allowed to re-submit the

assignment once as per the period allowed for re submission However, a penalty

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MEC_AMO_TEM_035_02 Page 9 of 13

of deduction of 25% of the marks obtained for the resubmitted work will be

imposed.

b. Period of re-submission: The student will have to re-submit the work within one

week (5 working days) from the date he or she is advised to re-submit.

c. Re-submission of the work beyond the allowed period of resubmission will not be

accepted and the assessment will be awarded a zero mark.

d. If the re-submitted work (within the allowed period of resubmission) is also found

to be plagiarized, then that assessment component will be awarded a zero mark.

It shall also contribute to the total count of academic integrity violation for that

student.

e. If plagiarism is detected in UG Project work (Project 1, Project Planning and Project

Design and Implementation), the above clauses do not apply, and the work will be

summarily rejected. In these cases the student will be awarded a fail (F) grade and

is required to reregister the module.

1.1.2. Malpractice / Ghostwriting / Collusion

If a student is caught first time in an act academic integrity violation during his/her course

of study for an assessment component irrespective of coursework or end semester and

if the type of violation is Malpractice/Ghostwriting/Collusion, then the student shall fail

the module.

1.2. Second Offence of Academic Integrity Violation:

1.2.1. Plagiarism

a. If any student is caught second time in an act of academic integrity violation during

his/her course of study and if the type of violation is plagiarism, then the student

will not be allowed to resubmit the work, and s/he will directly be awarded zero

for the work in which plagiarism is detected.

b. The student shall also receive a warning of suspension in such cases.

1.2.2. Malpractice/Ghostwriting/Collusion

a. If a student is caught a second time in an act academic integrity violation for an

assessment component irrespective of coursework or end semester and if the type

of violation is Malpractice/Ghostwriting/Collusion, then the student shall fail the

module.

b. The student shall also receive a warning of suspension in such cases.

1.3. Third Offence of Academic Integrity Violation:

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MEC_AMO_TEM_035_02 Page 10 of 13

a. If a student is caught a third time in an act of academic integrity violation for an

assessment component irrespective of coursework or end semester then the student

shall fail the module and also shall be suspended for one semester from the College,

once the academic integrity violation case is confirmed by Institutional Assessment

Review Committee.

b. The student shall be suspended for the immediate subsequent semester and can

register for modules only after having served the suspension period fully. This is also

applicable for semesters offered in block mode.

c. During the suspension period, the student shall have to mandatorily complete a course

on academic integrity/writing before s/he can register for any modules.

d. During the period of suspension, the student shall be allowed to attempt

supplementary examinations if s/he is eligible for the same. S/he shall also be allowed

access to all college facilities permitted for a regular student except for registering the

modules.

1.4. Fourth Offence of Academic Integrity Violation:

a. If a student is caught a fourth time in an act of academic integrity violation for an

assessment component irrespective of coursework or end semester, the student shall

fail the module and also shall be expelled from the College, once the case is confirmed

by Institutional Assessment Review Committee.

b. The student shall be expelled from the college and all access to the college facilities

and premises shall cease to exist. The documents shall be released only after getting

the NOC (No Objection Certificate) from Registration Office.

c. `On termination, the student shall not be refunded any fees paid for the academic

semester in which academic integrity violation was observed.

1.5. Other cases

If a student commits an act of academic integrity violation as per the definition of “other

cases” mentioned in the previous section or of a different nature, student’s case shall be

forwarded to an Institutional Assessment Review Committee, Chaired by the Associate

Dean, Academic Affairs. The committee shall investigate the case by means of a viva and/or

a hearing of the parties concerned if required and shall take appropriate decision. The

penalty that can be granted to a proven case of academic integrity violation which falls in

this category of “other cases” can be a warning/component zero/ module

fail/suspension/expulsion depending on the nature and gravity of the offence.

1.6. Types/Variations of cases of Plagiarism and associated actions

Type 1: In case plagiarism is detected in any component or part submission (submitted at

different times) of one assessment (assignment), the deduction in marks will be applicable

for the whole assessment (assignment), even if only the component or part submission alone

needs to be resubmitted.

Type 2: In case plagiarism is detected in a group assessment, all students of the group will be

considered as having committed an act of plagiarism irrespective of whether plagiarism is on

account of the act of all or a few or only one member. The policy will then be applied to all

students.

Business Economics (BUSS 20003) – Fall &#x20