European BusinessHIGHER EDUCATION PROGRAMMES
\nASSIGNMENT BRIEFING & FEEDBACK SHEET<\/p>\n
NB It is your responsibility as a student to keep a folder containing all your assessed work, including briefing & feedback sheets, to be made available on request for internal and external moderation.<\/p>\n
(A)
\nProgramme\/Course: HND Business Studies
\nValidating body: Edexcel
\nSubject\/unit\/module: Unit 35 \u2013 European Business
\nAssignment no.\/ref\/title: European Business Assignment
\nTutor: Steve Rider
\nStudent:
\nInternal moderator: Paul Mathers
\nSelected for internal moderation: Yes \u0081 No \u0081<\/p>\n
Date returned (following internal moderation if applicable):
\nResubmission deadline (if applicable \u2013 see feedback):<\/p>\n
(B) Declaration of ownership (to be completed by the student)
\nThis submission is the result of my own work. All help and advice other than that received from tutors has been acknowledged and primary and secondary sources of information have been properly attributed. Should this prove to be untrue, I recognise the right of the College to recommend what action should be taken in line with the Regulations on assessment.<\/p>\n
(C) Purpose of assignment (learning outcomes\/objectives and skills to be assessed)
\nSee attached sheet list outcomes and assessment criteria
\n(D) Assignment task(s) (see additional sheet for detailed questions, if applicable)
\n4 tasks detailed on attached sheet:
\n1. Explain the composition of the UK\u2019s Balance of Payments arrangements, identifying the key elements in detail and indicate how this has a bearing on UK trade policy, explaining the impact of international trade to an open economy and discuss how the UK\u2019s membership of the EU has affected the UK\u2019s trade patterns, the competitive position of the UK, and the UK\u2019s management of exchange rates (LO 1)
\n2. Explain and evaluate the economic rationale of the EU in relation to:
\n\u2022 exchange rate stability,
\n\u2022 the single currency,
\n\u2022 free trade versus protectionism,
\n\u2022 factor mobility. (LO 2)
\n3. Describe the major institutions of the EU, showing how they operate and what their structure is, clearly indicating how their operations impact on the policy outcomes and funding arrangements for the EU. (LO 4)
\n4. Produce an action plan for a specific UK company of your choice to develop trade within the EU. The plan should address the composition, size, infrastructure, and the impact of the Eurozone on the firm\u2019s plans and should evaluate barriers to trade and the impact of regulations and directives faced together with access to EU funding streams.
\n(E) Reference material (recommended reading\/sources of information)
\nSee attached reading list<\/p>\n
(F) Assessment\/grading criteria (including information on weighting, if applicable, and policies on late submission and resubmission)
\nPass, Merit and Distinction Grades awarded.
\nWork not up to Pass standard to be Referred. In this instance student can improve submission to achieve a Pass. Resubmission should be within two weeks or by a date agreed with tutor.
\nLate submission is only allowed by prior agreement with tutor who must be satisfied as to the circumstances leading to the need to submit late. Usually independent supporting evidence is required e.g. disruption through illness \u2013 Doctors note. Normally the extension will not be longer than two weeks.
\nPlagiarism and collusion are not allowed. If either are found to have occurred, student will be required to produce a new assignment, and will receive a written warning that future activity of this nature will result in disqualification from the course.
\n.
\n(H) Internal moderator comments (if selected for moderation)<\/p>\n
The assignment comprises four tasks directly related to the learning outcomes specified in the module. Students must achieve each of these outcomes to pass the module. Further details about this criteria and given on pages 7 to 9 of this assignment brief, together with criteria for merit and distinction awards.
\n1. All work produced must be an original piece of work by the individual student. The submission for marking and moderation purposes requires students to submit an electronic copy of their work through the College\u2019s Moodle system. This will allow screening through anti-plagiarism software. Any students contravening the College\u2019s policy on plagiarism will have their work disqualified.
\n2. In regards to the above policy regarding non-original references and academic quotations, all such references must be cited and the original sources quoted in the Reference List at the end of each task. All referencing should be done under the Harvard System format, a full explanation of which will be given by the course tutor
\nAnd a guide to the use of the Harvard referencing system can be found at the library Discovery website at :
\nhttp:\/\/students.themanchestercollege.ac.uk\/library
\n3. Attention to quality of presentation is imperative. Work not presented in an appropriate and professional manner, with correct use of grammar and free from spelling errors, may be penalised by loss of marks awarded for presentation and style, typically a minimum of 10% of marks available.
\n4. Similarly word counts must be observed within the permitted tolerance of plus or minus 10%. It is part of the academic discipline for students to write appropriate answers within these limits. Any student failing to meet word count requirements will be penalised by loss of up to 10% of marks available.
\n5. The word count does not include Title Pages, Contents Lists, Acknowledgements, Bibliography or any Appendices. If Charts and\/or Tables are incorporated into the answer text, all words used in such Charts or Tables will be counted. The final recorded word count per task must be added at the end of the Task Reference List. Additionally a total word count, (i.e. the sum of the four task word counts), should be given on the Title page of the submission.
\nIf there are any doubts or queries about these instructions please seek advice and clarification from your module tutor in the first instance.<\/p>\n
Task 1. (LO 1)<\/p>\n
Explain the composition of the UK\u2019s Balance of Payments arrangements, identifying the key elements in detail and indicate how this has a bearing on UK trade policy, explaining the impact of international trade to an open economy and discuss how the UK\u2019s membership of the EU has affected the UK\u2019s trade patterns, the competitive position of the UK, and the UK\u2019s management of exchange rates.
\n(Indicative word-count: 1200)<\/p>\n
Task 2. (LO 2)<\/p>\n
Explain and evaluate the economic rationale of the EU in relation to:
\n\u2022 exchange rate stability,
\n\u2022 the single currency,
\n\u2022 free trade versus protectionism,
\n\u2022 factor mobility.
\n(Indicative word-count: 1200)
\nTask 3. (LO 3)<\/p>\n
Describe the major institutions of the EU, showing how they operate and what their structure is, clearly indicating how their operations impact on the policy outcomes and funding arrangements for the EU.
\n(Indicative word-count: 1200)<\/p>\n
Task 4. (LO 4)<\/p>\n
Produce an action plan for a specific UK company of your choice to develop trade within the EU. The plan should address the composition, size, infrastructure, and the impact of the Eurozone on the firm\u2019s plans and should evaluate barriers to trade and the impact of regulations and directives faced together with access to EU funding streams.
\n(Indicative word-count: 2200)
\nEuropean Business \u2013 Marking Scheme<\/p>\n
Element Available Mark Tutor Comments Awarded Mark<\/p>\n
Task 1 The UK\u2019s Balance of Payments arrangements and its effect on UK trade policy, and the UK\u2019s competitive position. 20
\nTask 2 The economic rationale of the EU in relation to:
\n\u2022 exchange rate stability,
\n\u2022 the single currency,
\n\u2022 free trade versus protectionism,
\n\u2022 factor mobility. 20
\nTask3 Describe the major institutions of the EU, indicating how their operations impact on the policy outcomes and funding arrangements for the EU.
\n20
\nTask 4 Produce an action plan for a specific UK company of your choice to develop trade within the EU. 30
\nFormat & Style Grammar, spelling, observation of word-counts, referencing, style of presentation. 10<\/p>\n
\u2022 Aim
\nTo provide learners with an understanding of the importance of international trade and in
\nparticular UK trade with the European Union.
\n\u2022 Unit abstract
\nAs an open economy the UK not only engages in international trade, its very survival depends on
\nit. Despite having a sophisticated and highly productive agricultural sector we can feed only
\napproximately 50 per cent of our population.
\nIt is important, therefore, that learners seeking employment in the business world realise that if
\nwe do not export sufficient goods or services we can not afford to import the food and raw
\nmaterials we need to maintain our economic wellbeing.
\nThe first part of the unit focuses on international trade in general and the balance of payments as
\na monitoring device, whilst the second part concentrates on the EU and the economic theories
\nthat underpin its creation. The unit then examines the role and significance of the main EU
\ninstitutions, particularly in relation to their policy-making and implementation functions. Finally,
\nthe unit requires learners to research a particular area of economic activity and then apply the
\ndiscipline of action planning to a hypothetical UK company seeking to begin operating within the
\nEU.
\n\u2022 Learning outcomes
\nOn successful completion of this unit a learner will:
\n1 Understand the significance of international trade and the balance of payments to open
\neconomies such as the UK
\n2 Understand the economic rationale underpinning the European Union (EU)
\n3 Understand the role of the major EU institutions
\n4 Be able to develop an action plan for a specific UK company wishing to trade within the EU.
\nUNIT 35: EUROPEAN BUSINESS
\nBH023329 \u2013 Edexcel BTEC Levels 4 and 5 Higher Nationals specification in Business<\/p>\n
Unit content<\/p>\n
1 Understand the significance of international trade and the balance of payments to
\nopen economies such as the UK:<\/p>\n
International trade:<\/p>\n
\u2022 imports and exports;
\n\u2022 visibles and invisibles;
\n\u2022 open and closed economies;
\n\u2022 comparative and absolute advantage;
\n\u2022 the terms of trade;
\n\u2022 exchange rates<\/p>\n
Balance of payments:<\/p>\n
\u2022 structure \u2013 current account; capital account;
\n\u2022 visible trade balance;
\n\u2022 invisible trade balance;
\n\u2022 current account balance;
\n\u2022 capital transfer balance;
\n\u2022 balancing items;
\n\u2022 equilibrium;
\n\u2022 surplus and deficit;
\n\u2022 the significance of long term deficits<\/p>\n
2 Understand the economic rationale underpinning the European Union (EU)<\/p>\n
\u2022 Exchange rates: fixed and floating
\n\u2022 Single currency: arguments for and against the Euro; The Euro Zone\/Area (EMU)
\n\u2022 Free trade versus protectionism: tariffs, quotas, competition, regulation\/deregulation
\n\u2022 Factor mobility: geographic and occupational mobility of labour and capital\/funds<\/p>\n
3 Understand the role of the major EU Institutions<\/p>\n
Institutions:<\/p>\n
\u2022 the European Parliament,
\n\u2022 the Council of the European Union,
\n\u2022 the European Council,
\n\u2022 the European Commission,
\n\u2022 the European Court of Justice,
\n\u2022 the European Court of Auditors.
\n\u2022 the European Central Bank,
\n\u2022 the Presidency<\/p>\n
Policy outcomes:<\/p>\n
\u2022 European Directives and European Funding eg European Regional
\nDevelopment Fund (ERDF), European Social Fund (ESF), the Cohesion Fund<\/p>\n
4 Be able to develop an action plan for a specific UK company wishing to trade
\nwithin the EU<\/p>\n
The EU as a trading bloc:<\/p>\n
\u2022 composition,
\n\u2022 size,
\n\u2022 infrastructure,
\n\u2022 The Euro Zone\/Area (EMU)<\/p>\n
\u2022 Barriers to trade: linguistic, cultural, logistical and environmental
\n\u2022 EU Directives: policy initiatives and directives relevant to the chosen company
\n\u2022 EU funding streams: EU funding streams that may be available to the chosen company<\/p>\n
UNIT 35: EUROPEAN BUSINESS
\nBH023329 \u2013 Edexcel BTEC Levels 4 and 5 Higher Nationals specification in Business \u2013
\nLearning outcomes and assessment criteria
\nAssessment criteria for pass
\nThe learner can:<\/p>\n
LO1 Understand the significance
\nof international trade and the
\nbalance of payments to open
\neconomies such as the UK
\n1.1 explain the importance of international trade to an open economy such as the UK.
\n1.2 assess the significance of comparative advantage, absolute advantage, the terms of trade and exchange rates.
\n1.3 describe the structure of the balance of payments.
\n1.4 explain the terms \u2018surplus\u2019 and \u2018deficit\u2019 and significance of long-term deficits to open economies.<\/p>\n
LO2 Understand the economic
\nrationale underpinning the
\nEuropean Union (EU)
\n2.1 explain the role played by exchange rates in international trade.
\n2.2 analyse the advantages attributed to the adoption of a single European currency.
\n2.3 explain the difference between free trade and protectionism and the role played by tariffs, quotas and deregulation within the EU. 2.4 evaluate the importance of geographic and occupational mobility in wealth creation.<\/p>\n
LO3 Understand the role of the
\nmajor EU Institutions
\n3.1 explain the role of the main EU institutions in determining and legitimising policy.
\n3.2 assess the role played by EU directives.
\n3.3 evaluate the structure and purpose of the main EU funding streams such as the ERDF and the ESF.<\/p>\n
LO4 Be able to develop an action
\nplan for a specific UK
\ncompany wishing to trade
\nwithin the EU
\n4.1 produce a profile of the EU as a trading bloc.
\n4.2 evaluate the significance of linguistic, cultural, logistical and environmental barriers to EU operations.
\n4.3 carry out an audit of possible EU funding streams that may be available and relevant directives.
\n4.4 produce an action plan which lists the actions necessary to begin such a venture.
\nMerit Descriptors<\/p>\n
Exemplar indicative characteristics
\nIn order to achieve a Merit the learner must: The learner\u2019s evidence will show, for example:
\n\u2022 Identify and apply strategies to find appropriate solutions to tasks set
\n\u2022 That effective judgements have been made
\n\u2022 Complex problems with more than one variable have been explored
\n\u2022 An effective approach to study and research has been applied.<\/p>\n
\u2022 Select and\/or design and apply appropriate methods and techniques
\n\u2022 Relevant theories and techniques have been applied
\n\u2022 A range of methods and techniques have been applied
\n\u2022 A range of sources of information has been used
\n\u2022 The selection of methods and techniques\/sources has been justified
\n\u2022 The design of methods and techniques has been justified
\n\u2022 Complex information\/research data has been synthesised and processed
\n\u2022 Appropriate learning methods and techniques have been applied<\/p>\n
\u2022 Present and communicate appropriate findings
\n\u2022 An appropriate structure and approach has been used
\n\u2022 Coherent and logical development of principles and concepts for the intended audience is shown
\n\u2022 A range of methods of presentation have been used and technical language has been accurately used
\n\u2022 Communication has taken place in familiar and unfamiliar contexts
\n\u2022 Communications are appropriate for both familiar and unfamiliar audiences and appropriate media have been used.<\/p>\n
\u00a0<\/p>\n
dististinction Descriptors<\/p>\n
Exemplar indicative characteristics
\nIn order to achieve a Distinction the learner must: The learner\u2019s evidence will show, for example:
\n\u2022 Use critical reflection to evaluate own work and justify valid conclusions
\n\u2022 Conclusions have been arrived at by synthesis of ideas and have been justified
\n\u2022 The validity of results has been evaluated using defined criteria
\n\u2022 Self-criticism of approach has taken place
\n\u2022 Realistic improvements have been proposed and defined characteristics of success<\/p>\n
\u2022 Take responsibility for managing and organising activities
\n\u2022 Autonomy\/independence has been demonstrated
\n\u2022 Substantial activities, assignment task projects and investigations have been planned, managed and organised
\n\u2022 All relevant activities have been managed
\n\u2022 Unforeseen events\/consequences have been accommodated
\n\u2022 The importance of interdependence has been recognised and achieved.<\/p>\n
\u2022 Demonstrate convergent\/lateral\/creative thinking
\n\u2022 Ideas have been generated and decisions taken
\n\u2022 Self-evaluation has taken place
\n\u2022 Convergent and lateral thinking have been applied
\n\u2022 Problems addressed have been solved
\n\u2022 Innovation and creative thought has been applied
\n\u2022 Receptiveness to new ideas is evident
\n\u2022 Effective thinking has taken place in unfamiliar contexts.<\/p>\n","protected":false},"excerpt":{"rendered":"
European BusinessHIGHER EDUCATION PROGRAMMES ASSIGNMENT BRIEFING & FEEDBACK SHEET NB It is your responsibility as a student to keep a folder containing all your assessed work, including briefing & feedback sheets, to be made available on request for internal and Read More …<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-94114","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/94114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=94114"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/94114\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=94114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=94114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=94114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}