BLAW1002 S2 2021 – Economics Principles Task (EPT) – Marking Guide and FAQs
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BLAW1002 S2 2021 - Marking Guidance and FAQs on EPT

❦ Marking Guide
Students will be marked on the extent to which they specifically answer the question and provide clear,
logical, well-reasoned and sufficient explanations. In general, the greater the attention to detail in
explanation given with logical consistency, solid reasoning, and clarity, the higher the mark (distinction
grade). In this assessment, the quantity and quality of the explanation matters. There are no specific
word limits per se, so long as what is written contributes to and strengthens your analysis. Brief answers
given with less attention to detail but assuming you get most of the raw basics correct should earn you
a satisfactory (pass or low credit grade) overall. Half-marks can be awarded in this assessment.

The rubric below is a rough guide as to how the exercise shall be marked:

Criteria
Unsatisfactory
0 - 49%
Satisfactory
50 - 64%
Sound
65 - 79%
Exemplary
80 - 100%
Conceptual
Understanding:
Application of
Economic
Theory
Limited
understanding and
application of key
economic concepts/
theoretical
framework in
response to the case
questions.
Satisfactory
understanding and
application of key
economic concepts/
theoretical
framework in
response to the case
questions.
Sound
understanding and
application of key
economic concepts/
theoretical
framework in
response to the case
questions.
Discriminating
understanding and
application of key
economic concepts/
theoretical
framework in
response to the case
questions.

Graphical
Communication
and Technical
Details
Diagrams are not
used, or the incorrect
diagram is used that
is not specifically
taught in the lectures
and/or CORE ESPP
(Units 1, 7).
Basic diagrams are
constructed to
illustrate the theory
in more generic
terms.
Diagrams are well-
labelled, drawn with
accuracy and
adapted to the case
question.
Diagrams are well-
labelled, drawn with
excellent accuracy,
adapted to the case
question and with
technical rigour.

Critical
Thinking /
Analysis
Reasons are illogical,
irrelevant, or vague
and/or not informed
by research evidence
from the relevant
articles. Small use of
available information
in the key news
articles.
Reasoning is relevant
and informed by
some analysis and
synthesis of research
evidence from the
relevant articles.
Some use of
available information
in the key news
articles.
Logical and clear
informed by analysis
and synthesis of
research evidence
from the relevant
articles. Good use of
available information
in the key news
articles.
Discerning and
comprehensive
informed by robust
analysis and
synthesis of research
evidence from the
relevant articles and
beyond. Solid use of
available information
in the key news
articles.

30–49% (F): A submission that is very brief with (perhaps incorrect) diagrams and mostly unexplained. Poorly
constructed sentences and incorrect grammar, punctuation and spelling interfere with conveying
meaning to readers.
50–59% (P): Some applications of the theory yet being unclear at times. Several errors in the diagrams, nonetheless,
gets the basics done. Possible weakness in English and sentence structure, not much linkage to the main
articles.
60–69% (C): Overall, applications of theory to the diagrams are done well and/or explanation of diagrams are
interesting at times. Evidence of some technical details, yet (perhaps) some points made were
inconsistent or not discussed in detail enough (i.e. insufficient depth of coverage).
70–79% (D): A very good submission, drawing from the information from the relevant news articles and with some
additional research, explaining the theory in some detail and evaluating the problem at hand. A couple
of details perhaps could have been elaborated on (hence not quite enough to be awarded a high
distinction). Overall, good depth to it and with relevant technical details.
80–90% (HD): An excellent submission, quite creative on several occasions, solid theoretical applications,
comprehensive, crystal-clear explanations, research excellence, and technical specification.

BLAW1002 S2 2021 – Economics Principles Task (EPT) – Marking Guide and FAQs
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❦ FAQs
▪ This Economics Principles Task (EPT) is mostly a written analysis using logical
argumentation. There is a ‘graphical’ component to this assessment where you are to simply
hand-draw (pen/pencil/paper and then electronically scan/snap; or using a digitiser pen) the
particulars of the relevant economics diagram.
o The organisation of the text is crucial and requires planning. Sentences and paragraphs should be
well connected using logical argumentation. Your answer should read as a continuous, threaded
flow of ideas from beginning to end.
o Be analytical and use your own critical thinking; do not be overly descriptive.

▪ Industry values workers with a well-developed set of analytical skills and communicative abilities.
A reason for the EPT is to help the student develop and/or strengthen their analytical and
communication skills set by applying their knowledge of economic principles to real world
issues. Moreover, articulating clear answers and solving problems are important skills to have in
the real business world. ULO4: “explain how business and marketing strategies can create value
through application of economic principles”.

▪ You are expected in your answers to refer to key economic concepts taught in the relevant
BLAW1002 S2 2021 economic modules E1 (M6), E2 (M7) and E3 (M8). Just be wise and careful to
write in your own words when you draw upon the lecture slides and CORE readings. The key
economic concepts are taken from CORE ESPP, and are discussed in lectures and tutorials:
o Module E1 – Capitalism: Affluence, Inequality, and the Environment. CORE ESPP Readings, sections from Unit 1:
Introduction to 1.13, available: https://www.core-econ.org/espp/book/text/01.html
o Modules E2 and E3 – Firms and Markets for Goods and Services Parts 1 and 2. CORE ESSP Readings, sections
from Unit 7: Introduction to 7.12, 7.14, available: https://www.core-econ.org/espp/book/text/07.html
o For the diagrams/models, you might want to make a quick reference from the CORE ESPP text and/or lecture
materials. You can briefly mention where you got the CORE model/diagram from.
o You should not need to do an exact copy/snapshot of a diagram from the unit materials -- as this is an applied
activity -- a diagram may closely resemble something from the materials, but it is unlikely to be an exact match.

▪ Some additional research is required in this assessment, but this is not an intensive research
activity (and peer-reviewed academic journals are not expected). Include suitable in-text
referencing and a reference list for any sources used.
o Part 1 (and to a much lesser extent Part 2) requires some extra online research: stick to
reputable sources such as news analysis articles. There is no need to go overboard in
your research for Part 1: as a guide, depending on the mark you’re aiming for, synthesise
the ideas and facts from no more than nine to twelve trustworthy/quality sources.
o Include suitable in-text referencing and a reference list for any sources used.

▪ The similarity report has been disabled for students to view as this may create some
unnecessary worry if revealed (i.e. there is bound to be some similar content from the CORE text
and the question set etc. among students). As a student, you only need to live with a guilty
conscience if you:
1. sent the EPT on the dark (or sketchy legal) web for someone else to partly do for you (e.g. using
chegg.com, coursehero.com and so on);
2. and/or you’ve deliberately and strategically plagiarised;
3. and/or copied large chunks from your fellow classmates.
Apart from the above, you should not fear anything and simply enjoy your originality life index.
o Based on past experience from students and the rigour-all associated with the academic
misconduct system, it’s in your best interest not to intentionally cheat—several students have
waited up to a one-year before they hear back about their situation (and thus delaying
enrolment/graduation etc.).
o Expressed more positively from a different angle: there is plenty of guidance provided by your
tutor in the relevant workshop activity questions (and on Ed) to help see you through this EPT.

BLAW1002 S2 2021 – Economics Principles Task (EPT) – Marking Guide and FAQs
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▪ Is the formatting strict?
o Not overly strict. Just do what you need to do re Chicago (you can use Harvard or APA if you
prefer) and make sure your fonts and styles and headings etc. are nice and legible, so the marker
can clearly see what needs to be seen. It is a good idea to provide a suitable heading for each
diagram you draw.

▪ On the question of word limits:
o The word count specified is purely a suggestion, students are permitted to write a bit more if they
need to, so long as what is written is relevant and answers the question, and on the potential mark
you wish to aim for. But, as a rough guide, you should not go over by more than 100-300 words.
o An absolute upper word limit for the paper as whole would be say 2,200 words -- most students
will not need to write that amount.

▪ Aim for a healthy balance between paraphrasing and quotes (but don’t overuse quotes).

▪ How do I reference the main text?
o The CORE Team (2021): Economy, Society, and Public Policy, Oxford, UK (500 pages), Oxford
University Press, softcover, ISBN 978-0-19884-984-1. https://www.core-econ.org/espp
▪ For in-text referencing, I would go for something like: CORE ESPP Team (2021).

▪ How do I reference online news articles?
o See: https://libguides.library.curtin.edu.au/ld.php?content_id=47908597

▪ What do you mean by using ‘hypothetical values’?
o Where possible, integrate some points of data from the article in question (or with extra research if
you wanted to) to make it a little more accurate to convey the concept.
▪ The reality is you will not be able to use actual values for every point on the curves etc.; it
is just not possible.
o Making up figures (i.e. being hypothetical) is fine and a good practice for all part questions with
diagrams (when no data to draw upon). For example, it is hard to get actual quantity figures for the
x-axis. To be on the safe side, just state to the reader that you are using hypothetical values—that
way you are informing the reader/marker exactly what you’re doing.
▪ For example in Part 1b, you may find more info on profit to some extent, but not
necessarily know what the marginal cost is per se. Obviously, you won’t have an entire D-
curve of prices and quantities, but you can draw upon some research to get an
approximation. Just have a shot at it!

▪ What is the marking and grades deadline?
o Your tutors have a lot on their plates, as you do too my dear student, and marking each EPT
requires a bit of concentration to provide you with useful comments. So, please allow for a three
(3) week turnaround for marking.

▪ Where can I seek further clarification (if needed) on the EPT? Visit the Ed Forum where