The growth drivers and growth challenges

Assessment Task Information

Core Task  Write a report on the growth drivers and growth challenges of one of the economies below covering the period 2015- the present day (or a close as possible, see instructions below about this).     Economies: South Korea, India, United Kingdom, United States. The growth drivers are the factors that cause growth The growth challenges are the factors that inhibit growth   The key things you need to do are as follows: Collect the growth data for your economy over the required time period, present it in a column chart and analyse this data appropriatelyExplain three growth drivers and three growth challenges using theory and evidence as appropriate. Make three policy recommendations to the government.                 
Structure There should be 6 sections in your report. Details regarding each section are outlined below.  Rounded Rectangle: You do not have to follow the suggested content exactly but you do need to meet the requirements for the introduction outlined in the marking criteria.
These are different for the different grade levels 
1. Introduction (Approximately 150-200 words)       Suggested Content       ▪   Statement of what your report is about and the purpose of the report.     ▪   Statement about why you chose your selected economy.     ▪   Relevant piece of information about your selected economy.     ▪   Statement about the structure of our report.    2. Background (Approximately 200-300 words)       Suggested Content   Rounded Rectangle: Same comment as above but in this case with reference to the background    ▪   Growth performance in your selected economy in a period prior to the period being         analysed for the report e.g. 2010-2014.     ▪   A data chart may be created and included within the text or in an appendix       ▪ Other relevant background information about your selected economy   3. Data Analysis (Approximately 50-100 words)      Content      ▪   Column Chart of GDP growth data covering the period 2015- 2019. Column chart should be created in excel.    ▪   Statement of the growth rate for the first two quarters of 2020.    ▪   Identification of trends in the data in the column chart and the most recent trend.     ▪   Identification of other relevant observations about your data in the column chart and the 2020 data.      4. Performance Analysis (Approximately 800-850 words)       Content        ▪   Clear explanations of three growth drivers and three growth challenges in your selected economy, explained using theory as appropriate and supported with evidence as appropriate The drivers and challenges should pertain to the required time period (2015-present)   One example of a challenge to economic growth may be low levels of education. To explain this growth challenge, you would need to report the information you have about this challenge for your country. This includes any supporting evidence that either your source provided, or you collected yourself from a databank.  You would also explain why low-quality education might restrict growth, using theory as appropriate.      5. Conclusion (Approximately 100-150 words)     Content  ▪    Summary of the key points of your analysis (data, drivers and challenges).   6. Recommendations (Approximately 100-150 words)     Content Three clear recommendations based on your analysis in the previous section. Your recommended policies should be designed to support the growth process (e.g. policies that would create possibilities for growth to happen or policies that would address some of the challenges to growth of the economy)
Theory and/or Task Resources Required for the Assessment Theory   You need to use relevant economic models to explain adjustments in economic variables as appropriate. This means you will need to use the relevant diagrams.  You do not need to repeat explanations of the same economic adjustment processes.  If the same kind of economic adjustment process is relevant more than once in your report (e.g. aggregate demand increases, shifting the AD line to the right etc), you need to use the relevant diagram to explain clearly what is happening the first time that this is relevant and thereafter refer back appropriately.    Data Task You can acquire your data from the world bank databank or other similar data resource (i.e. reputable international or national organisation) If you choose to use the world bank data, you can acquire the data as follows; Type ’world development indicators world bank databank’ into google and click on the first link that appears.  This will take you straight to the database.  You need to select your country, your series and your time period.  Country is the second option on the left-hand panel of the screen. Click country, then select the first letter of your country from the horizontal list of letters at the top and you should find your country pretty easily. You need to select your country by clicking on the square box to the left of the country name. Then click series, click G and find GDP growth (% annual). Click on the square box beside this. This is real GDP growth because GDP at 2010 prices is used to calculate the growth rate (you can find this information on the definition and source tab on the data file that you download once you have specified your data requirements).  Then click time and select the years 2015, 2016, 2017, 2018 and 2019. Then click apply changes and the click the download option at the top right-hand corner of the screen.  This will give you a number of options regarding the type of file you will download, excel or csv would be the most popular options.  Data on the first two quarters of 2020 can be obtained from Trading Economics website.         Research The research for this report is secondary research.  You must collect your data from a reputable data source such as the World Bank.  You may also use data collected from one of these data sources to support points in your report (For example, as suggested above you may use data that you collected from a data source to illustrate that the quality of education is low) In addition, you will need to research the economic performance of your selected country by reading articles and reports about this.  Articles written by reputable newspapers such as the economist, the financial times or the guardian may be useful. Individual country reports about the economy produced by international and national organisations will be useful. Examples of such organisations include, the World Bank, the United Nations, the International Monetary Fund, Central Banks and research institutes such as the National Institute of Economic and Social Research in the UK.  You are required to use a minimum of 6 sources, not including your data source for the GDP data (although that does need to be included in your reference list)  
Assessment Reference Style   The GIC citation and referencing guide will guide you regarding the format of your citations and references. A reference list rather than a bibliography is required.         
Expected Word Count The world count for this assignment is 1800 words, excluding diagrams and the reference list.  You may exceed this count by 20% or fall short of this count by 20%. A report submitted with a word count that is less than 1440 or greater than 2160 will receive a penalty.    

Learning Outcomes Assessed

The following learning outcomes are assessed in this task: Identify and explain macroeconomic performance and challenges. Apply theories in economics to economic realities appropriately (the requirement for the assignment is to use theory to explain your drivers or challenges(application), standalone explanations will receive very little merit.    

Submission Requirements

▪    Your font size for your assignment must be Arial 12. ▪    Academic Integrity & Misconduct Information: Please use this link to access more information on academic integrity and misconduct:   Submission Deadline and procedure: Submit an electronic copy of your assignment to Turnitin through FC700 Economics VLE page by Sunday 7th March before 11.59pm If you have any technical difficulties please email your assignment to gic.academicservices@kaplan with a screen shot of the error message you received. Please include your full name, student number, module code, group number and class teacher’s full name in the email. Alternative submissions will not be accepted after the deadline has passed.  Prior to the deadline you may submit to Turnitin as many times as you wish. Late Submission: Late submissions should be submitted to the late submission Turnitin assignment on the FC700 EconomicsVLE page. DO NOT email your class teacher; they are unable to accept late submissions. Penalties for Work Submitted late:   Number of Working Days Late Penalty Awarded 1 85% of original mark 2 80% of original mark 3 75% of original mark More than 3 Zero mark awarded       The work submitted must be your own.  You may be called to defend your work. This would involve a meeting with your course tutor and another member of staff. There are strict penalties for submitting work that is not your own. 

Assessment Mark

Your assignment will be marked according to the marking criteria which is available on the VLE. Please review this so that you are aware of how your work will be marked so that you can allocate your time and effort appropriately.      

Assessment Feedback

Your class tutor/another tutor will mark your assignment on Turnitin.  The tutor will write comments for each of the sections of the report and may write comments within your report as well.  The marking process usually takes 2-3 weeks.    
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