Often, students find that moving from the structured and theoretical world of the classroom and textbooks to developing economic intuition and applying what you have learned in your day-to-day life is not as easy as it might sound. Hence, this assignment should encourage you to think more
critically about economics in your daily life so that, with time, this kind of thinking will become more natural. You have begun learning the language of economics and have had some exposure to basic principles by taking this course. With that in mind, you should be beginning to view the world through the lenses of an economist
1. No economics content or the use of economics is superficial and trivial.
2. A potentially useful economic concept is stated but it is not used to show understanding or provide any insight. Entries that are potentially relevant but mostly descriptive with little analysis will also get this mark.
3. A relevant economic concept is stated and a correct attempt is made to use it. However, the explanation, understanding or insight does not go much beyond what the person in the street would probably know. The economics is there but it is thin.
4. A correct concept or collection of relevant and related concepts are used to provide a good explanation of an observation. The entry goes beyond the person in the street and is firmly grounded in economics though may leave a deeper insight untouched.
5. All of what it takes to get a 4 but shows real depth of insight and understanding either by going well beyond the obvious or by making good use of a variety of relevant concepts in a coherent and articulated way. Grammar, spelling, etc. are flawless. By default, the presentation is expected to be of a professional standard. Sub-standard presentation, poor spelling and grammar (that your word processor picks up for you) will be penalized up to 5 marks. There is no excuse for it