Read the following scenario and complete the tasks given below:
GDP of Oman is expected to reach 116.16 USD Billion by the end of 2023, according to Trading Economics global macro models and analysts’ expectations. In the long-term, the Oman GDP is projected to trend around 119.30 USD Billion in 2024 and 122.88 USD Billion in 2025, according to our econometric models.
Oman is set to become the fastest-growing economy among the six GCC nations in 2023, with a 4.3% projected growth, according to a report by the World Bank.
The World Bank is also predicting a slowdown of GDP growth across the GCC, revising its 2023 economic growth projection for the GCC downwards to 3.2% from the 3.7% forecast in October. (World Bank, 2022)
The student is required to:
a. Maintain a digital file / journal / scrapbook of economic news to cover the Oman’s Macroeconomic indicators such as: Inflation, GDP and Unemployment in the last 10 years and highlight supportive measures initiated by the Government.
Secondary data must be collected from academic sources of literature (OECD, IMF, World Bank and Government reports etc.,)
b. A minimum of (10) data items should be attached along with the source and date. Relevant interpretation should be written with a clear understanding of the economic inferences and implication of the news.
c. The digital news journal should be submitted as an attachment to a written report.
Submission Deadline
Marks and Feedback
Before 6pm on:
15 working days after deadline (All Levels)
Click or tap to enter a date.
TBA
Module title & code
Principles of Economics / POE BC 03-1
Assignment number and title
Assessment 2 / (CW-JO)
Assessment type
Course work – Journal
Weighting of assessment
50 %
Module learning outcomes
1.Knowledge and Understanding:
To demonstrate the knowledge and understanding of the fundamentals of both Micro and Macro
economic theories and concepts.
2. Skills and Abilities:
To demonstrate the knowledge and understanding of different market structures and their implications
on the consumer.
What am I required to do in this assignment?
Read the following scenario and complete the tasks given below:
GDP of Oman is expected to reach 116.16 USD Billion by the end of 2023, according to Trading Economics global
macro models and analysts’ expectations. In the long-term, the Oman GDP is projected to trend around 119.30 USD
Billion in 2024 and 122.88 USD Billion in 2025, according to our econometric models.
Oman is set to become the fastest-growing economy among the six GCC nations in 2023, with a 4.3% projected growth,
according to a report by the World Bank.
The World Bank is also predicting a slowdown of GDP growth across the GCC, revising its 2023 economic growth
projection for the GCC downwards to 3.2% from the 3.7% forecast in October. (World Bank, 2022)
The student is required to:
a. Maintain a digital file / journal / scrapbook of economic news to cover the Oman’s Macroeconomic indicators such as: Inflation,
GDP and Unemployment in the last 10 years and highlight supportive measures initiated by the Government.
Secondary data must be collected from academic sources of literature (OECD, IMF, World Bank and Government reports etc.,)
b. A minimum of (10) data items should be attached along with the source and date. Relevant interpretation should be written
with a clear understanding of the economic inferences and implication of the news.
c. The digital news journal should be submitted as an attachment to a written report.
d. You are required to write a report of 1500 words based on the findings concluded from the collected news. In the report you
should relate the concluded findings to your knowledge of the macroeconomics concepts and to the international economic
environment.
e. You should write a title for the e-journal. The title must be related to the contents you are describing.
f. To address the given tasks, you will have to refer to the lecture notes and conduct independent research which would give
the necessary skills that are required. Academic sources of literature are essential.
Deliverables
Submission
Submission of the individual report will be done via Turnitin Link on MOVE. At the time of submission, you need to make sure
that the assignment is your own and all the sources have been acknowledged.
Is there a word limit (Number of Words ± 10%)?
1500 words
10% (+/-)
no penalty
11-20% (+/-)
Reduction of 5
Marks
21-30 (+/-)
Reduction of
10 Marks
31-40% (+/-)
reduction of 15
Marks
41-50% (+/-)
Reduction of 20
Marks
+ 50%
Fail the assessment
For more details refer to Student Handbook Section IV: Assessments 4.8.9.
What do I need to do to pass? (Threshold Expectations)
2
In order to pass this assessment, you need to prepare an e-journal that includes all the required information as mentioned in
the task.
The e-journal should be clear and adequately patterned and designed. Content arrangement should be clear and adequately
help the viewer to understand without narration.
Your understanding of the issues should be clear in the commentaries provided below each piece of news. You are also
required to submit a written report of 1500 words, discussing your findings and highlighting any support provided by the
Omani Government.
The report should be based on the news collected and should be related to your knowledge of macroeconomics and the
international economic environment.
The e-journal should be submitted as an attachment to the written report.
How do I produce high quality work that merits a higher grade?
Emphasis is both on quality and quantity. Students are expected to focus on relevant news and to be able to relate their real
findings to the economic concepts they learnt.
Please check the rubric at the end of this document. You can score good grades by assuring the following.
•
•
•
•
Exhibiting a high level of understanding with the ability to synthesize and summarize information precisely.
Demonstrating effective knowledge over the given topics.
Using technical vocabulary to present relevant, accurate and clear commentaries.
Providing sufficient and detailed response to the given tasks
How does assignment relate to what we are doing in scheduled sessions?
In the course of the task preparation, there will be orientation and briefing to guide the students to the proper things to do in
complying the assignment task. Thus, during the briefing sessions, students will be able to ask questions for further
clarification. The orientation should be a venue to help students to properly carry out the task, but they are expected to do it
outside the class sessions.
During classes the lecturer will provide you information that is related to the topics. You will also be involved in class
activities in order to introduce you to the skills required. Topics: 6, 7 and 8 of your POE modules cover the required
macroeconomics information. MOVE activities will again help you in handling the assessment.
3
How will my assignment be marked?
Your assignment be marked according to the threshold expectations and the criteria on the following page.
You can use them to evaluate your own work and estimate your grade before you submit.
Weighing
(%)
No
Criterion
1
Content
Accuracy &
Relevance of
Information
search
25
AnalysisInterpretation
of data
collected to
the given task
30
2
Sub
Standard /
No Attempt
(0 Marks)
Poor
(20 Marks)
Satisfactory
(40 Marks)
Good
(50 Marks)
Very Good
(60 Marks)
Excellent
(70 Marks)
No
Information
of Content
Accuracy. No
Evidence of
Information
Credits
No accurate
facts
displayed.
Few
accurate facts
displayed;
relevant
macroeconomic
variables
/information/
statistics
present but it
is incomplete
Some accurate facts
displayed;
some/partial relevant
macro-economic
variables
/information/statistics
are present.
Reasonable and
accurate facts
displayed, some
relevant macroeconomic variables
/information/statistics
are present, with
contemporary
searches
Adequate accurate
facts displayed.
Examples of
appropriate relevant
macro-economic
variables
/information/statistics
are present, with
contemporary
searches. The
data/information is
represented with
higher clarity and
precision. Data
relevant to both local
contexts is used to
address the tasks.
Excellent accurate
facts displayed.
No relevant
data
availableanalysisevidence not
found
The majority
of the data is
irrelevant to
tasks except a
few and
interpretation
skill is not
evidenced.
Data is
available but
insufficient.
Interpretation
skills are
evident but a
novice level.
Some
inferencing is
evidence to a
minimum
Interpretation of data
is evidenced in the
report with the
available data and
exhibits a good level
of inferencing skills,
but with missed
opportunities.
A very good level of
interpretation is
evidenced and
exhibits skills
pertaining to
inference and able to
make meaningful
assumptions on it.
Exhibits sound data
interpretation skill
and demonstrates
skills to make
meaningful
assumptions and
shows clarity in
differentiating facts
and assumptions
using evidence.
In addition to clearly
satisfying the
‘excellent criteria’ the
report demonstrates
the skills to interpret
and make
assumptions on data
that correlate both
micro and macro
aspects of the
economic variables.
Required
Information
shown / with
major errors.
Outstanding
(100 Marks)
Outstanding relevant
macro-economic
variables
/information/statistics
are present, with
contemporary
searches. Data
relevant to both local
and international
context is used to
address the tasks.
threshold
level.
3
Application
skillsinferring data
to address
the tasks and
appreciating
the role of
macroeconomics
30
Shows no
understanding
of the tasks,
and lacks
appreciation
of the role of
macroeconomics
4
Reportpresentationcoherence,
language
10
The report is
unorganized
to the point of
being virtually
unreadable.
Lacks
cohesion and
orderly flow.
Shows a
minimum
understanding
of the tasks
with lack of
clarity with
less scope of
application of
the conceptsno support
from the data
collected.
The
assignment
has
unacceptable
failings in
structuring
and / or
clarity of
written
expression.
The report is
difficult to
read due to
overwhelming
errors or
misspellings
Exhibits a
satisfactory
level of
understanding
of the given
tasks. Applies
the data
inferred to
make some
meaning
inferencing,
but with
errors. Able to
be aware of
the role of
macroeconomic
concepts
Exhibits a good level
of understanding of
the tasks, with
inference skills, that
leads to appreciating
of the role of macroeconomic variables
and its significance in
building a sustainable
economy, but with
missed opportunitiesscope to infer more
and in detail- can be
more critical and data
cross examination
amongst different
macro-variables are
missing parts of the
application. Shows
application relevance
to the local context.
Exhibits a very good
level of understanding
of the tasks, with
inference skills, that
leads to appreciating
of the role of macroeconomic variables
and its significance in
building a sustainable
economy in the local
context not
triangulating with the
international aspects.
Assumptions and
inferences are
meaningfully
supported with
data/statistics.
Exhibits excellent
level of understanding
of the tasks, with
inference skills, that
leads to appreciating
of the role of macroeconomic variables
and its significance in
building a sustainable
economy in the local
context and
international context
triangulating the two
to make more
meaningful inference.
In addition to clearly
satisfying the
requirements of
‘excellent criteria’ the
report demonstrates
the skills of a more
wholistic approach in
applying the data for
inference- where
there is clear evidence
of linking both the
micro and macro
aspects of the
economics.
Though
discussion of
the ideas is
clear, a
coherent flow
of thought is
not evident.
Evidence for a
coherent presentation
is evident but lacks
uniformity
throughout the essay.
The report is well
organized. There is
orderliness in the
structure. Coherence
is also evident but
there is still scope for
improvement.
The report is well
organized with a
cohesive discussion.
The structure of the
report is excellent.
The structure is
exemplary. Execution
is excellent.
Discussions are free of
grammar or writing
errors. A clear layout
augments the
presentation.
The report is
unorganized
but can be
read. Poor
flow of the
report
structure.
The report is
somewhat organized.
The flow is not
coherent and needs
improvement.
While the assignment
has some failings in
structuring and / or
clarity of written
expression, these do
A generally wellstructured and
expressed
assignment, that
communicates clearly.
Well executed. Few
grammar or writing
errors. Reads
An assignment whose
clear structure and
expression
significantly enhances
its argument.
Excellent overall
organization of the
report.
Reads easily. Is well
organized.
5
The
assignment
has failings in
structuring
and / or
clarity of
written
expression,
which impair
its capacity to
communicate.
not impair its capacity
to communicate.
easily. Is fairly well
organized.
More than occasional
errors or misspellings.
Frequent
compositional
errors or
misspellings,
but the report
can be read
5
References
5
The
references do
not clearly
comply with
the basic
requirements
of HARVARD
STYLE format.
The
references do
not clearly
comply with
the basic
requirements
of HARVARD
STYLE format.
The poster
shows some
compliance to
HARVARD
STYLE
referencing
but shows
many errors.
Sources used
show limited
relevance and
currency.
Very few
references
quoted.
Some sources
of information
are relevant
while others
are dated
The poster
demonstrates a basic
level of HARVARD
STYLE referencing, but
still contains major
deficiencies. No
sophistication is
evident i.e., Websites
do not follow Harvard
Referencing style.
Majority of the
sources are relevant
and current.
The poster
demonstrates a solid
understanding of the
basic elements of
HARVARD STYLE
formatting. In-text
citations if presented
at relevant areas will
lend more
appropriateness to
the report.
Sources used to
support the
discussions are
relevant and current.
The poster
demonstrates
excellent HARVARD
STYLE formatting
skills. In-text citations
are presented at
relevant areas.
Consistent use of
relevant and current
sources that enhance
the discussions.
Accurate use of
Harvard Referencing
style.
Student recognizes
the concept of
intellectual property,
can defend him /
herself if challenged,
and can properly
incorporate the ideas
/ published works of
others into their own
work building upon
them.
Skillful use of credible,
relevant and current
sources of
information that
augments quality of
discussion
6
7
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