管理经济学作业要求（Managerial Economics Assignment）

Managerial Economics Assignment

Tutor’s Guidance Notes:

The assignment has been designed in this way in order to maximize the student’s practical learning from the course. By analyzing a familiar feature of their organization with a new or, at least, an extended range of concepts, models and theories, new insight should be gained. It is important that all students have the same opportunity to demonstrate their knowledge of the course. Students should illustrate their answers logically with clear concepts. Their answers should be analytical rather than descriptive with innovative viewpoints and relation with theories and practice. The word limit of 3000-4000 is to be taken for the whole assignment. If the answer is under the word limit, there will be insufficient detail to analyze and explain.

Case Study Project (100%)
Following the implementation of minimum wage level of HK$28 an hour in May 2011 and the Minimum Wage Commission members agreed to increase the hourly rate by 7.1 percent to HK$30 in November 2012 to help workers meet their family expenses, many community leaders call on the government to introduce standard working hours to better protect the health of workers and improve their family and social life. On the other hand, employers are concerned that the introduction of standard working hours would undermine the flexibility of the labour market and the competitiveness of Hong Kong, and as a result, some companies will have to scale down or even close down their operations. Anyway, it is believed that both the minimum wage and standard working hours will coexist in the local labour market sooner or later, and they will change the labour supply, labour demand, and wage structure. You are an economic analyst of a well-known fast food restaurant chain and are asked to write a report of about 3000 words to evaluate the impact of minimum wage and maximum working hours’ legislation on the profitability of the company and to recommend development strategy for doing business in the new environment.

Additionally, you are expected to answer three research questions in your report: (1) What type of market structure does the fast food restaurant chains industry in Hong Kong belong to? (2) What are the impacts of minimum wage and standard working hours on the cost structure of the fast food restaurant chain company? (3) Will the minimum wage and standard working hours’ legislation force the fast food restaurant chains industry in Hong Kong to have prices rise and to operate shorter business hours?
The student should apply the knowledge and skills learnt in the course and follow the instructions listed below. To align with the course intended learning outcomes, the assessment criteria and the attached weightings are as follows:
 

1. An examination of the theoretical background as well as practical aspects of minimum wage and maximum working hours' legislation. (15%)
2. A general description of current business environment of the fast food restaurant chains in Hong Kong and the challenges faced by the company. (15%)
3. Clearly explain the research methodology including research questions and research design. (20%)
4.  An analysis of the impact of minimum wage and maximum working hours’ legislation on the company’s profitability. (40%)
5. Business strategy recommendations. (10%)

MARKING CRITERIA
GRADE A: To achieve a grade A the project should be exceptionally well written and well presented. Student should have used appropriate literature to explain and underpin the contentions made in the body of the text. The literature should be properly referenced using the Harvard system. The work should clearly demonstrate evidence of wide reading and a thorough understanding of the subject. The theory should be correctly and creatively applied to the subject of the study. The content should be accurate, creative and intelligently written at the appropriate level.

GRADE B: To achieve a grade B the project should be very well written and presented. Student should have used appropriate literature to explain and underpin the contentions made in the body of the text. The literature should be properly referenced using the Harvard system. The work should clearly demonstrate evidence of relevant reading and a good understanding of the subject. The theory should be correctly applied to the specific problem. The content should be accurate and logical at the appropriate level.
 

GRADE C: To achieve a grade C the project should be well written and neatly presented. Student should have used appropriate literature to explain and underpin the contentions made in the body of the text. The literature should be properly referenced using the Harvard system. The work should demonstrate evidence of some relevant reading and an understanding of the subject. The theory should be correctly applied to the specific problem. The content should be accurate and sensible at the appropriate level.
 

GRADE D: To achieve a grade D the project should be logical and easy to read. Student should have used some appropriate literature to explain and underpin the contentions made in the body of the text. The literature should be properly referenced using the Harvard system. The work should demonstrate evidence of some reading and an understanding of the subject. The theory should be applied to the specific problem. The content should be accurate and sensible and largely at the appropriate level.
 

GRADE E: An E will be awarded where most of the criteria for a Grade D have been achieved, but the project falls short of the overall standard for a pass, or where referencing is not in accordance with the Harvard system. An E will be awarded to work which may be accurate but which largely falls below ‘M’ level.
 

GRADE F: A piece of work will be awarded an F grade if
It is not written in a clear and logical fashion
It does not use enough appropriate literature to support the body of the text
What literature there is has not been correctly referenced
Tasks have not been adequately addressed
If it does not largely meet the requirements of ‘M’ level (7)

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