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SUSS SINGAPORE UNIVERSITY OF SOCIAL SCIENCES ECO203e End-of-Course Assessment — January Semester 2021 International Economics INSTRUCTIONS TO STUDENTS: 1

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SUSS SINGAPORE UNIVERSITY OF SOCIAL SCIENCES

ECO203e

End-of-Course Assessment — January Semester 2021

International Economics

INSTRUCTIONS TO STUDENTS:

1. This End-of-Course Assessment paper comprises EIGHT (8) pages (including the cover page).

2. You are to include the following particulars in your submission: Course Code, Title of the

ECA, SUSS PI No., Your Name, and Submission Date.

3. Late submission will be subjected to the marks deduction scheme. Please refer to the

Student Handbook for details.

IMPORTANT NOTE

ECA Submission Deadline: 5 May 2021, 12 noon

ECA Submission Guidelines

Please follow the submission instructions stated below:

A - What Must Be Submitted

You are required to submit the following THREE (3) items for marking and grading:

• A Report (you should submit this item first as it carries the highest weightage).
• A Video Presentation:

• SUSS conducts Hands-on workshop on how to record ECA video presentation for SBIZ students every semester. Students will receive an invite to the workshop via Student Portal, Canvas as well as email, a month before the ECA cut-off date.
• The ECA video recording and submission guides are also available as an external links/downloads in the invite.

• The set of PowerPoint slides, converted to PDF, upon which the video presentation is based.

Please verify your submissions after you have submitted the above THREE (3) items.

B - Submission Deadline

• The THREE (3) items of Report, Video and Presentation Summary are to be submitted by 12 noon on the submission deadline.
• You are allowed multiple submissions till the cut-off date for each of the THREE (3) items.
• Late submission of any of the THREE (3) items will be subjected to mark-deduction scheme by the University. Please refer to Section 5.2 Para 2.4 of the Student Handbook.

C - How the (3) Items Should Be Submitted

• The Report: submit online to Canvas via TurnItIn (for plagiarism detection)
• The Video: submit online to Canvas (refer to workshop invite for the user guide)
• The Presentation Summary:

• submit online to Canvas via TurnItIn (PPT must be converted to PDF and submission is in PDF only)
• The PPT must contain at least 20 words
• Refer to workshop invite for the user guide

• Avoid using a public WiFi connection for submitting large video files. If you are using public wireless (WiFi) connection (e.g. SG Wireless at public areas), you might encounter a break in the connection when sending large files.

D - Additional guidelines on file formatting are given as follows:

1. Report

Please ensure that your Microsoft Word document is generated by Microsoft Word 2007 or higher. The report must be saved in .docx format.

 

2. Video

Showing your PowerPoint projection in the background is NOT required. Time Duration: a minimum of 3 minutes and a maximum of 6 minutes There are two methods for ECA video assignment submission; either Record Media or Upload Media. For Record Media Video can be recorded via Canvas through desktop/laptop with built- in webcam and microphone or through Canvas mobile app. For Upload Media Video can be recorded using other recording devices and uploaded as a media file. Do ensure that your video file conforms to these requirements: a) File Format: .mp4 b) File Size: No more than 500MB Note: You will receive an invite to the ECA Hands-On workshop via Student Portal, Canvas as well as email, a month before the ECA cut- off date. The invite will allow you to register for the workshop as well as download a copy of the user guide.

 

3. Presentation      Summary

Your PowerPoint presentation must contain at least 20 words. Please ensure that your PowerPoint presentation is converted to PDF format before you submit. The maximum number of slides is fifteen (15). Please do NOT download and use PowerPoint slide design templates from the Internet.

 

E — Please be Aware of the Following:

Submission in hardcopy or any other means not given in the above guidelines will not be accepted. You do not need to submit any other forms or cover sheets (e.g. form ET3) with your ECA.

You are reminded that electronic transmission is not immediate. The network traffic may be particularly heavy on the date of submission deadline and connections to the system cannot be guaranteed. Hence, you are advised to submit your work early. Canvas will allow you to submit your work late but your work will be subjected to the mark-deduction scheme. You should therefore not jeopardise your course result by submitting your ECA at the last minute.

It is your responsibility to check and ensure that your files are successfully submitted to Canvas.

F - Plagiarism and Collusion

Plagiarism and collusion are forms of cheating and are not acceptable in any form in a student’s work, including this ECA. Plagiarism and collusion are taking work done by others or work done together with others respectively and passing it off as your own. You can avoid plagiarism by giving appropriate references when you use other people’s ideas, words or pictures (including diagrams). Refer to the APA Manual if you need reminding about quoting and referencing. You can avoid collusion by ensuring that your submission is based on your own individual effort.

The electronic submission of your ECA will be screened by plagiarism detection software. For more information about plagiarism and collusion, you should refer to the Student Handbook (Section 5.2.1.3). You are reminded that SUSS takes a tough stance against plagiarism or collusion. Serious cases will normally result in the student being referred to SUSS’s Student Disciplinary Group. For other cases, significant mark penalties or expulsion from the course will be imposed.

Video Presentation Evaluation Criteria

Note: Students will be assessed on the quality of the presentation and not the quality of the video recording. However, the recording is expected to have video and audio clarity. Showing your PowerPoint projection in the background is NOT required.

Organisation of Presentation

• Logical flow of presentation

Posture & Body Language | | /5

• Posture: Standing, straight back etc...
• Body language:

                       — Hand gestures supporting oral arguments, etc...

Eye-Contact | | /5

• Looking at the video camera
• No reading of slides or notes or cue cards

Pace & Articulation | | /7

• Pace: Speaks neither too fast nor too slow
• Articulation: Oral expression is clear and confident in the presentation.

TOTAL

Presentation Summary Evaluation Criteria

Format and Style of Slides

• Layout, clarity of text elements, colour blends, graphical enhancements

Clarity and Coherence

• Proper flow - title page, introduction, body, results, recommendations /discussion points, conclusion/summary; quick to understand, free from grammatical errors

Creativity

• Ability to use creative elements to value-add to the presentation so as to enhance understanding and clarity of difficult concepts

TOTAL

Important Note: Grading of TMA/GBA/ECA Submissions

Marks awarded to your assignment are based on the following guidelines:

1. 80% of the marks are allocated to the content of your answers:

> The marks awarded to what your answers cover depend on the extent to which they cover the key points that correctly and comprehensively address each question.

> The key points should be supported by evidence drawn from course materials and, wherever relevant, from other credible sources.

2. 20% of the marks are allocated to the presentation of your answers:

Wherever applicable, the marks awarded to how your answers are presented depend on the extent to which your answers:

> form a sound reasoning by developing those key points in a clear, logical and succinct manner;

> provide proper and adequate in-text citations and referencing to content drawn from course materials and other credible sources;

> Strictly follow APA formatting and style guidelines’, in particular for:

• in-text citations and end-of-report references;
• the identification of figures and tables;

> use, wherever relevant, the specialised vocabulary and terminology commonly used in discussions about the topic(s) covered by each question;

> provide a reference or bibliography at the end of the main report;

> include the less relevant details in an Appendix;

> use sentence constructions that are grammatically and syntactically correct;

> are free from spelling mistakes; present the workings, numerical formulations and results in a logical manner that follows the APA formatting and style guidelines;

> Design and present graphs, diagrams and plots that follow the APA formatting and style guidelines;

> are highly original;

> have proper formatting, which may:

• include a properly formatted cover page;
• respect the answer length/word count set out in the assignment guidelines, if any is prescribed;
• present answers in paragraphs with proper spacing and page margins;
• Include page numbers and appendices, 1f necessary.

¹You can find a short tutorial on the APA formatting and style guidelines here: https://is.¢d/mgEOnC. Additional details (pertaining to tables and figures) can be found here: https://is.¢d/O4vDdT .

SECTION A (Total 65 marks)

Question 1

Country C imports 80,000 metric tons of steel from Country U and produces domestically 80,000 metric tons per year. The world price of steel is $500 per metric ton. Assuming linear schedules, research analysts estimated the price elasticity of domestic supply to be 0.50 and the price elasticity of domestic demand to be -0.25 in the current market equilibrium. Country C imposes an import duty of $150 per metric ton that caused the world price to fall by 10%.

(a) Summarise and analyse the quantity of steel produced, consumed and imported in Country C. Analyse and discuss the welfare gain from trade in Country C. Show your answers of the steel market with a proper diagram.

(b) Analyse the effects of the consumer surplus, producer surplus, government revenue and deadweight loss in the Country C steel market with the tariff. What are the terms of trade of the Country C steel market after the tariff was imposed? Explain the welfare effects of both countries.

Question 2

In the H-O model, a country that exports one product and imports a different product 1s called inter-industry trade. Although there 1s substantial inter-industry trade in the world, intra- industry trade 1s also important today. Interpret what intra-industry trade 1s and demonstrate it with a product with two (2) trading countries and show how they can benefit from it.

Question 3

Explain how changes in the national income of Country A can lead to a repercussion effect of its trading partner, Country B, of its balance of payment. Illustrate and explain it with a numerical example with a foreign trade multiplier of 0.4.

Question 4

(a) Singapore 1s a highly trade-dependent economy operating under a managed float exchange rate system. For over a decade it has been experiencing near full employment and has had a current trade surplus position. Due to a pandemic that resulted in a financial crisis, the major trading partners of Singapore have experienced severe economic recession and have reduced their imports from Singapore.

Analyse and explain the effects of the trading partner’s recession on Singapore. Your discussion should include the exports, imports, money supply and international financial flows as well as a suitable foreign exchange market diagram.

(b) Malaysia is an oil producer and its budget 1s highly dependent on its o1l revenues other than on tax revenues. Prices of crude oil in early Oct 2018 were about US$74/barrel and in early Jan 2020 they were just above US$60/barrel. By mid-April 2020, however, they were about US$16/barrel.

Analyse the effects of the drastic drop in oil prices on Malaysia’s current account, financial account and the overall balance of payments. If Malaysia were to operate under a fixed exchange rate system (with US dollars), discuss how the system operates and explain how a fixed exchange rate will affect its foreign reserves.

SECTION B (Total 25 marks)

Prepare a video recording of the presentation on Question 2 of at least 3 minutes but not exceeding 6 minutes. There are two methods for ECA video assignment submission; either Record Media or Upload Media. For Upload Media, please note that your file size should be no more than SOOMB and the format is in .mp4.

SECTION C (Total 10 marks)

Prepare a set of PowerPoint presentation upon which the video presentation 1s based. Please note that the PowerPoint must be converted to PDF before submission to Canvas.

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