Principles of Microeconomics - Business Finance
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NIZWA COLLEGE OF TECHNOLOGY
BUSINESS STUDIES DEPARTMENT
SEMESTER -2 / ACADEMIC YEAR 2019-2020
FINAL EXAM (ASSIGNMENT)
COURSE CODE
COURSE NAME
LEVEL
TUTOR(S)
SECTION(S)
DURATION:
START
END
MARKS BREAK UP:
No. of Questions
1
2
3
TOTAL MARKS
INSTRUCTIONS:
BAEC 1203
Principles of Microeconomics
Diploma First Year (Business), Advanced Diploma (IT)
Ms. Socorro, Ms. Rajani & Dr. Florence
DATE
May 19
May 21
TIME
9:00AM
8:00AM
Marks for Each Question
15 Marks
20 Marks
15 Marks
50 MARKS
1) The Final Assignment will be available in Moodle at 9:00 am on the date of examination.
2) This is an open resource examination; there are (4) pages. Students are allowed to refer any digital materials
(Internet, ProQuest, Masader, and OER) with proper referencing and citation for each answers.
3) Students has to answer the questions typewritten in the word (.docx) format. Figures / Diagrams, equations and
solving of problems can be written by hand and added to the document as a picture/image.
4) Save the assignment file using the student ID & Course code. [ E.g.: 22s1234 – BAEC 1203]
5) Students should submit the answers through the Turnitin link provided in Moodle page. If any problem occurs,
send it to the staff email [socorro.taguibao@nct.edu.om] [rajani.james@nct.edu.om]
[florentino.emperador@nct.edu.om]
6) Students are encouraged to upload the answers in the Moodle at least two hours before the deadline to avoid any
technical issues.
7) In case of any technical problem in opening or submitting your assignment please contact your course tutor
through email and copy the Department Head
8) Any form of cheating is punishable. Students involved in cheating will be treated according to the Plagiarism
and Academic Integrity Policies.
9) Students are advised to write the answers in their own words. Based on the plagiarism policy and the
department approved similarity level, the marks will be deducted for the plagiarized [Copied] answers.
1|Page
10) Students should complete their assignment within the given time. Assignments submitted after the deadline will
be marked 0.
11) There are three (3) questions on this assignment and it is compulsory that all questions must be answered.
12) Mark allotment for each questions are based on the following number of words
Allotted Marks
Number of Words
20 marks question
300 words
15 marks question
225 words
12 marks question
180 words
10 marks question
150 words
8 marks questions
120 words
7.5 marks question
115 words
6 marks questions
90 words
5 marks question
75 words
4 marks question
60 words
3 marks question
45 words
2.5 marks question
40 words
2 mark question
30 words
13) Typography:
i.
Font style
ii.
Font size
iii.
Line spacing
iv.
Paper size
: TIMES NEW ROMAN
: 12 font size
: 1.5
: A4
14) Assignment can be uploaded in the Moodle only once, so please check your answers before uploading
them. The teacher will not delete any assignment for any student to upload them again.
ACADEMIC INTEGRITY & PLAGIARISM POLICY:
The student should be ready to prove the authenticity of the work done. If any form of plagiarism/reproduction of answers are
discovered, student will be awarded zero marks.
DECLARATION:
I declare that the Final Exam (assignment) submitted is original and acknowledge that I am aware of the NCT’s Integrity and
Plagiarism Policies (January 2011) mentioned in Moodle, and the disciplinary guidelines and procedures applicable to
breaches of such policy and regulations.
I AGREE TO THE TERMS AND CONDITIONS:
STUDENT NAME
STUDENT ID
DATE OF SUBMISSION
2|Page
Allotted Marks
20 marks question
15 marks question
12 marks question
10 marks question
8 marks questions
7.5 marks question
6 marks questions
5 marks question
4 marks question
3 marks question
2.5 marks question
2 mark question
Number of Words
300 words
225 words
180 words
150 words
120 words
115 words
90 words
75 words
60 words
45 words
40 words
30 words
CASE STUDY # 1 (15 TOTAL MARKS)
During the early 2010s, the development of hydraulic fracturing (fracking) as a method to
extract oil from shale rock formations in North America caused a positive change in supply in the
oil market. Non-OPEC oil production inceased by over one million barrels per day.
Because of the increase in the supply of oil,there was a decreasae in the per-barrel price of oil,
Economists predicted that lower prices would create greater demand for oil, although this demand
was tempered by deteriorating economic conditions in many parts of the world.
A. Describes the law supply with the given situation.
(5 Marks)
B. Expalin a movement in supply curve and shift in supply in the above scenario.
(5 Marks)
C. Given the above sitation analyse the demand for petrol in the world.
(5 Marks)
Online resources are available to supplement your answer.
===================================================================================================
CASE STUDY # 2 (20 TOTAL MARKS)
A store sells ice-creams. The chart presents the quantity demanded and the quantity supplied for
the different prices the ice-cream could be sold.
3|Page
Price of Ice
creams RO
6
5
4
3
2
1
Quantity demanded
(Liters)
10
15
20
25
30
35
Quantity supplied
(Liters)
35
30
25
20
15
10
A. Identify and explain the equilibrium price and what quantity of ice-cream is demanded
and what quantity is supplied at the equilibrium price?
(5 Marks)
B. How to control the market price for ice cream to help the sellers?
(5 Marks)
C. Is there a possibility of perfectly inelastic in demand for ice cream? Or can it be based
on income elasticity of demand. Explain and differentiate between income elasticity
and price elasticity.
(10 Marks)
Online resources are available to supplement your answer.
===================================================================
CASE STUDY #3 (15 TOTAL MARKS)
An 8D Theater in Nizwa has only 12 seats in it per show. Since the experience in watching the
show is amazing the demand for reservation is too high.
A. How does law of demand and law of supply works in the given situation.
(5 Marks)
B. Which determinant of demand is discussed in the given situation and explain.
(5 Marks)
C. Explain other five determinants of demand that is applicable to the 8D movie watching.
(5 Marks)
Online resources are available to supplement your answer.
===================================================================================================
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