Anonymous2766
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The title is: Selecting a supermarket or company of your choice operating in the British economy, use all economic concepts below to explain the business decisions your company needs to make to successfully compete in the market:
Product and factor markets
Supply, demand and the market mechanism
Elasticity
Costs, revenues and profits
Firms and enterprise
Market power, structures and competition
(2,000 words)
P.S. not looking for answers, just thought providing the question would help anyone kind enough to offer me to advice.
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MindMax2000
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(Original post by Anonymous2766)
The title is: Selecting a supermarket or company of your choice operating in the British economy, use all economic concepts below to explain the business decisions your company needs to make to successfully compete in the market:
Product and factor markets
Supply, demand and the market mechanism
Elasticity
Costs, revenues and profits
Firms and enterprise
Market power, structures and competition
(2,000 words)
P.S. not looking for answers, just thought providing the question would help anyone kind enough to offer me to advice.
Kind of throwing you a curve ball there, considering how economics is more of a theoretical subject e.g. how are you going to find data to calculate elasticity, supply and demand, marginal costs, marginal revenues? Considering the limited data, I'd focus on discussing theoretical concepts in applied knowledge you have of the company of your choice. Best place to look would be the company's financial statements, if they have any, and economics/business information from reputable sources (broadsheets preferable, or even good websites like Reuters - not saying you have to use them though).

I'd read How to Write Great Essays by Peter Levin. It would talk about how to write essays the lecturers would want at academic level, and provide good tips on writing in general. If there isn't an essay writing service/workshop at your university that guides you writing essays at uni, then the book would be your best bet.

The starting point I'd check would be your lecture notes specific to the above. If they have set the essay question, it would mean they have already taught everything you will need for the essay.
Second, I'd would look through the unit outline and look at the essential and recommended reading for the subject. The recommended books will provide clues to what will give you the first class marks, especially when it comes to critical thinking after you have done your analysis. Using Google Scholar blindly can cost you marks unnecessarily. Wikipedia should not be used, but the references the articles have tend to be academic, and they tend to be key to the topics - use with discretion (Wikipedia do also offer good sources for company specific information).
Third, after looking at the reading, look at specific references within the reading that you have come across that would be relevant to your essay. Look up those references if you can, and read further.
If you're using ebooks and online journal articles, I'd keep a word document open and copy and paste snippets of the reading so you could refer back to them - make sure you keep reference of the page numbers and the full reference for the book/journal article, as it will be a lot easier when it comes to compiling the bibliography/reference list.
Check whether the lecturer wants a bibliography (a list of all sources you have read) or a reference list (all references you have used within your essay), as each lecturer defines both differently. Also consider formatting requirements (font size, spacing, font, etc.) as specified in your unit outline.

When planning your essay, you will need to budget the word count. As you have 6 sections for a 2000 word essay, I'd say 300 per section is good, since you will need 100 for the introduction and conclusion each.
I've a habit of using headings to break the essay down so I can do the analysis with a more focused mind. If your lecturers want you to use a free flowing essay structure and ban headings altogether, use the headings as guideposts, but then take them out in subsequent drafts.
In the first draft, write all you want, and paraphrase things from your reading that would be useful in your analysis. Your critical thinking would include things like, how would this economic concept help or not help the business? Is it a big deal? Why? When should you not use the concept? What other things have the concept left out? Is it significant? Can the concept be applied at all? If not, how is the concept useful? - The 'so what' factor
After your first draft, retype the whole essay for a second time. This time, you're ironing out all the things you want to include, didn't seem quite right the first time, any wordiness (2000 words is not a lot of words), how true are your statements, is the terminology used correctly and can you save words by using them, is what you're writing clear and unambiguous, etc. Be as much of a perfectionist as possible, and try to refute your own work where you can so it becomes 'unstumpable'.
Relook the second draft, and go over it for the third time, and do as many drafts after than until you're satisfied with the essay. In the final draft, check you have met all the requirements requested of you and dress it up as best as you can, including the reference list in alphabetical order. If your essay doesn't bear some resemblance to a journal article, think it through and check the requirements again.

A 2000 word essay with research shouldn't take more than 2 weeks. If you have more than 3 weeks to write it, I'd recommend learning how to touch type (google for online touch typing exercises) if your typing speed is less than 30wpm - it takes 10 hours to learn i.e. over a weekend, and it saves you hours you would never need to spend.

In an ideal world, you would include company specific information and research e.g. calling up the company and going into the company to do student lead research. However in practice, companies will often ignore you because you're wasting their time i.e. you don't make big money by helping students contribute to their mini-research projects.

Things to note in word:
  • Headings are a thing in Word; I'd use them to generate the contents page very quickly.
  • Contents page is a thing you can add from the Reference ribbon
  • Use page breaks where necessary, because it helps keep things tidy, as opposed to adding unncessary return keys (see these using the paragraph button in the Home ribbon - looks like a mirrored P)
  • Word's word count will include the headings, references, etc. so to do the actual word count, you will need to add up the words in the sections yourself. Highlight the selection, and then read the figures from the bottom left hand corner.
  • Page layout for margin sizes (saves paper and can make the essay look neater)


When you have received your essay back, go to the marker (who might be different to the lecturer) to get further feedback on what needs improving and what you have done well (feedback forms give you next to nothing). Even if you received a first class mark, it doesn't mean you can't improve on it.
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Anonymous2766
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#3
Report Thread starter 1 month ago
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(Original post by MindMax2000)
Kind of throwing you a curve ball there, considering how economics is more of a theoretical subject e.g. how are you going to find data to calculate elasticity, supply and demand, marginal costs, marginal revenues? Considering the limited data, I'd focus on discussing theoretical concepts in applied knowledge you have of the company of your choice. Best place to look would be the company's financial statements, if they have any, and economics/business information from reputable sources (broadsheets preferable, or even good websites like Reuters - not saying you have to use them though).

I'd read How to Write Great Essays by Peter Levin. It would talk about how to write essays the lecturers would want at academic level, and provide good tips on writing in general. If there isn't an essay writing service/workshop at your university that guides you writing essays at uni, then the book would be your best bet.

The starting point I'd check would be your lecture notes specific to the above. If they have set the essay question, it would mean they have already taught everything you will need for the essay.
Second, I'd would look through the unit outline and look at the essential and recommended reading for the subject. The recommended books will provide clues to what will give you the first class marks, especially when it comes to critical thinking after you have done your analysis. Using Google Scholar blindly can cost you marks unnecessarily. Wikipedia should not be used, but the references the articles have tend to be academic, and they tend to be key to the topics - use with discretion (Wikipedia do also offer good sources for company specific information).
Third, after looking at the reading, look at specific references within the reading that you have come across that would be relevant to your essay. Look up those references if you can, and read further.
If you're using ebooks and online journal articles, I'd keep a word document open and copy and paste snippets of the reading so you could refer back to them - make sure you keep reference of the page numbers and the full reference for the book/journal article, as it will be a lot easier when it comes to compiling the bibliography/reference list.
Check whether the lecturer wants a bibliography (a list of all sources you have read) or a reference list (all references you have used within your essay), as each lecturer defines both differently. Also consider formatting requirements (font size, spacing, font, etc.) as specified in your unit outline.

When planning your essay, you will need to budget the word count. As you have 6 sections for a 2000 word essay, I'd say 300 per section is good, since you will need 100 for the introduction and conclusion each.
I've a habit of using headings to break the essay down so I can do the analysis with a more focused mind. If your lecturers want you to use a free flowing essay structure and ban headings altogether, use the headings as guideposts, but then take them out in subsequent drafts.
In the first draft, write all you want, and paraphrase things from your reading that would be useful in your analysis. Your critical thinking would include things like, how would this economic concept help or not help the business? Is it a big deal? Why? When should you not use the concept? What other things have the concept left out? Is it significant? Can the concept be applied at all? If not, how is the concept useful? - The 'so what' factor
After your first draft, retype the whole essay for a second time. This time, you're ironing out all the things you want to include, didn't seem quite right the first time, any wordiness (2000 words is not a lot of words), how true are your statements, is the terminology used correctly and can you save words by using them, is what you're writing clear and unambiguous, etc. Be as much of a perfectionist as possible, and try to refute your own work where you can so it becomes 'unstumpable'.
Relook the second draft, and go over it for the third time, and do as many drafts after than until you're satisfied with the essay. In the final draft, check you have met all the requirements requested of you and dress it up as best as you can, including the reference list in alphabetical order. If your essay doesn't bear some resemblance to a journal article, think it through and check the requirements again.

A 2000 word essay with research shouldn't take more than 2 weeks. If you have more than 3 weeks to write it, I'd recommend learning how to touch type (google for online touch typing exercises) if your typing speed is less than 30wpm - it takes 10 hours to learn i.e. over a weekend, and it saves you hours you would never need to spend.

In an ideal world, you would include company specific information and research e.g. calling up the company and going into the company to do student lead research. However in practice, companies will often ignore you because you're wasting their time i.e. you don't make big money by helping students contribute to their mini-research projects.

Things to note in word:
  • Headings are a thing in Word; I'd use them to generate the contents page very quickly.
  • Contents page is a thing you can add from the Reference ribbon
  • Use page breaks where necessary, because it helps keep things tidy, as opposed to adding unncessary return keys (see these using the paragraph button in the Home ribbon - looks like a mirrored P)
  • Word's word count will include the headings, references, etc. so to do the actual word count, you will need to add up the words in the sections yourself. Highlight the selection, and then read the figures from the bottom left hand corner.
  • Page layout for margin sizes (saves paper and can make the essay look neater)


When you have received your essay back, go to the marker (who might be different to the lecturer) to get further feedback on what needs improving and what you have done well (feedback forms give you next to nothing). Even if you received a first class mark, it doesn't mean you can't improve on it.
Thanks!
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