101LON Economics Coursework 1# (40% final mark) Title: Primark supplying consumers with ethically sourced garments Introduction In recent years, ethical sourcing of garments has been one of the most discussed in business, economics and government issues. Specifically, is it ‘ethical’ for firms to source low cost manufactured good in undeveloped countries? You will prepare a business standard report on this issue. The report constitutes coursework and 40% of the students’ final mark Context You are an economist employed by your government, and you have asked to write a report on Primark’s ethical sourcing policy (see above for coursework title). You have decided not to write a general explanation, but rather, a report that uses the language of and analysis of economics. Preparation Research your report by first reviewing the following BBC News articles: • Primark sales set to boost performance at AB Foods (8 September 2014). • Rana Plaza collapse: Primark extends payments to victims (24 October 2013). • Primark linked to UK sweatshops (12 January 2009). Research To obtain good marks, please also source and research other articles specifically from the following journals: • Economist • Financial Times • Economics and the business environment (Sloman: core text) Word count Circa 2000 words, in a report formatted to business standard! Format 1. Cover page including: a. Module name and number b. Tutor c. Coursework title d. Student name and number 2. Numbered bottom right pages 3. Preamble a. Introduction to the issue (one paragraph) b. Description of how you have approached the report (one paragraph) 4. Sub headings 5. Short paragraphs: six lines, comprising two points and one conclusion 6. Illustrated with at least one graph, table, and relevant picture 7. Recommendations to the: a. Firm b. Government 8. Conclusions, i.e. other recommendations and observations 9. Reflections on general learnings, preparation, formatting, researching 10. References 11. Total 10 references, including: a. Core text (Sloman) b. Financial Times c. Economist 12. Appendix Marking schedule (i) Meaningful and concise preamble/introduction 10 (ii) Explanation of the economic functioning of the market of this fashion store, by illustrating the following terminologies such as: a. demand and supply, b. price mechanism, c. incentives, d. market equilibrium, e. equilibrium price and quantity. 10 (iii) Explanation of the demographic demand pattern: Are certain consumers buying these garments more than others? 5 (iv) Explanation of possible causes for and effects of shifts in demand and supply in this market. 5 (v) Comparison with named fashion stores, illustrate and explain: a. own price, b. income elasticity for various demographic groups 10 (vi) Explanation all possible types of market failures for ‘Primark’, particularly on the basis of ethical issue. 10 (vii) List and explain government intervention options to correct such market failures. 10 (viii) Description of how such government intervention could affect demand for Primark’s product; and discuss: a. limitations, b. costs and benefits of the options for government intervention. 10 (ix) Recommendations to the firm as well as to the government. 10 (x) Appropriate sources for your analysis, including government, business and academic reports and journal articles, reliable news services, and excluding internet sources of uncertain or questionable origin. 5 (xi) Coventry University Harvard style. 5 (xii) Format 5 (xiii) Reflections 5 Notes This assignment accounts for 40% of the module mark. Final submission date: see Moodle – GradSchoolPapers.com