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FC700 Mid-Module Assessment Task Information
Key details:
Assessment title: Mid-Module Assessment: Essay on Government Intervention in Markets
Module Name: Economics
Module Code: FC700
Tutor’s Name: Peter Luke
Assessment Release Date 01/008/2025
Feedback Opportunities: Formative feedback prior to submission and feedback on final submission
Assessment Due Date: 10th August 2025, before 11:59 PM
Assessment weighting: 25%

Assessment Instructions

For this assignment, are required to write an essay answering one of these questions:

Would a subsidy policy deliver efficient and effective outcomes in the agricultural goods market

OR

Should government actively intervene and reduce carbon emissions Discuss one policy that government can introduce to reduce carbon emissions arising from the production of a product of your choice.

Things to consider: Agricultural Goods Market
Why would the government intervene in this market What are the problems facing farmers and buyers in this market (it is good to provide evidence to support your points here)
How does subsidy work in this market
What are the benefits of subsidy in this market How does subsidy address the problems facing farmers and buyers in this market (use economic theory and evidence here)
What are the limitations of subsidy in this market (use economic theory and evidence here)
Overall, do you think government should intervene in this market using subsidy Why or why not
Things to consider: Carbon Emissions
What are carbon emissions and main sources of carbon emissions
How are carbon emissions created Use economic theory to illustrate how production of a product of your choice creates a lot of carbon emissions.
Why would government wish to reduce carbon emissions (evidence on the problems associated with carbon emissions will be useful here
Overall, do you think government should intervene in this market by using subsidy method Why or why not
How can government intervene to reduce carbon emissions (explain one policy that could be used to help reduce carbon emissions)
What are the benefits of your suggested policy (use economic theory here).
Are there any potential limitations of your suggested policy
Overall, do you think this policy is effective
Structure:
There should be 4 sections in your essay. Details regarding each section are outlined below.
1. Introduction (Approximately 100-150 words)
Suggested content:
Interesting facts about the relevant market
Definition of government intervention
Brief explanation of the reasons for government intervention in the market
Purpose of the essay
Statement about the structure of the essay.

2. Background (Approximately 200-250 words)
Content:
Detailed discussion of the reasons for government intervention in the relevant market.
3. Analysis and Evaluation (Approximately 600-700 words)
Content:
Clear explanations of how the method/policy works in the relevant market
Clear explanations of the benefits and limitations of the method/policy using economic theory and supported with evidence
Evaluation of the method/policy – an overall judgement (evaluation) whether the intervention method is a good idea or not.

4. Conclusion (Approximately 80-100 words)
Content:
Summary of the key points of your analysis.
Note: You should not introduce new ideas in the conclusion

Theory and/or task resources required for the assessment:
Theory
You need to use relevant economic theory to explain the effects of government intervention methods in different markets. This means you will need to use the relevant diagrams.
The theory of efficiency and government interventions in market covered in week 5 cycle 1 can be used to illustrate government intervention methods and corresponding effects in markets.
Consumer theory covered in week 7 cycle 2 can be used to illustrate the effect of tax on households’ consumption combinations.
Research
You are required to conduct secondary research for this essay, finding relevant sources independently. For your chosen question, you are required to use at least SIX sources. These should be reputable sources (e.g., discussion papers, book chapters, journal articles), which have been published in English language. Good quality newspaper like the Economist, Guardian may also be helpful.
Your essay should present an in-depth discussion and economic analysis, you must use diagrams to support your explanations of economic theory.
Referencing style:
You are required to use a minimum of 6 sources. You must include a reference list as part of your report. The GIC citation and referencing guide will guide you regarding the format of your citations and references.

Expected word count:
The word count for this assignment is 1200 words, excluding diagrams, headings and the reference list. You may exceed this count by 20% or fall short of this count by 20%.
An essay submitted with a word count that is less than 960 or greater than 1440 will receive a penalty.
The following learning outcomes are assessed in this task:
Define key terms used in the description and analysis of the micro economy.
Explain how key economic theories, mechanisms and variables function in relation to each other in an economy (the requirement for the assignment is to use economic theory to explain government intervention methods(application), standalone explanations will receive very little merit).
Analyse, measure and compare the impact of market mechanisms, policies and government intervention on consumers, businesses and economies

Submission Requirements:
Your font size for your assignment must be Arial 12.
Each page of your assignment should have a header with your student ID number, module code (e.g. FC700) and the name of your class tutor. Do not write your name anywhere on the submitted document.
All pages should be numbered.
Include a title page consisting of the following information:
Module Code (e.g. FC700)
Class/Group: (e.g. Group A, )
Assignment Title: (e.g. Add in your Report Title)
Tutor Name: (name of tutor)
Student GU ID Number: (please add your GU ID number only and NOT your name)
Date of Submission: (date)
Word count
Academic Integrity & Misconduct Information:
Please use this link to access more information on academic integrity and misconduct:
https://pathways.kaplaninternational.com/course/view.php id=3436
Submission Deadline and procedure:
Submit an electronic copy of your assignment to Turnitin through FC700 Economics VLE page by 10th August 2025, before 11:59 PM If you have any technical difficulties please email your assignment to (https://kicpathways.formstack.com/forms/contact_gic) OR contact.gic@kaplan.com 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. DO NOT SEND IT TO YOUR TUTOR. DO NOT SEND IT TO YOUR TUTOR. DO NOT SEND IT TO YOUR TUTOR.
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 Economics VLE 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.

How will this assessment be marked
The overall mark for this assignment is based on the essay submitted, which will be marked for:
1. Expression and structure (10%) – have you clearly stated the theme and purpose of the essay, have you stated the main points of the argument and structure of the essay, and have you accurately summarized key points of the essay
2. Rationale for government intervention (20%) – have you clearly presented reasons for government intervention in the relevant market, have you employed relevant economic theory in your discussion of the reasons, and have you used accurate evidence to support your discussion of the rationale for government intervention
3. Evaluation of government intervention method (60%) – Have you clearly presented how the method works in the relevant market, have you used relevant economic theories and evidence to identify the benefits and limitations of the method, and have you included an objective evaluation of the method
4. Presentation and referencing (10%) – Have you written the essay in academic style and tone and formatted the essay appropriately; have you formatted your citations and references appropriately
You will receive a weighted score for each criterion, as well as a single overall % mark consisting of all your scores added together.
How will you get feedback
In the run up to the deadline your tutor will be available to answer questions on your work either by email or face-to-face.
If you complete a first draft, you may submit this before the deadline for a brief review by your tutor. First drafts need to be submitted at least two weeks before the submission deadline. Drafts submitted after that time may not receive feedback due to other work commitments of your tutor.
After final submission, your tutor will mark the assessment and provide you with a written feedback sheet and a grade for this task. You will find this on the VLE. You can use this feedback to guide your further learning on future modules.
If you are not satisfied with the written feedback, you may request a face-to-face meeting with your tutor to clarify any points.