Economics Assignment

Written Work Submission Guidelines:
• One copy of the assignment must be posted to Turnitin by the required date and one hard copy in the Drop-box in reception by 2.00pm on the date of submission.
• You are also required to submit a draft copy of this assignment to your tutor by 1 December 2015. You will receive feed back on this draft.
• You should provide your own cover sheet including the following information:your name and student number, module code and title (eg. FC006 Economics Assignment), title of assignment, your tutor’s name , the total number of words and the submission date.
• Each page should have a header with the module code, module title and your name.
• All of the work must be word processed using font size 12, double spaced.
• The pages (including any photocopied sources) must be stapled together.
• The pages must be numbered in the bottom right corner.
• You should also be careful to keep an electronic copy for yourself – if your submission is lost, you can then easily resubmit.
• You must include a final reference list using the Harvard System, which is outlined in the college referencing guide.
• You must not copy text from a book, another student’s work or Internet sites and imply that it is your own work. This is plagiarism and is a serious academic offence.
• Please note that references should be inserted into the main body of the text as well as providing a bibliography.
• You should use report format for this assignment. Maximum of 1100 words.
London Comes Top…..for Traffic Congestion
Only three European countries have worse rush-hour traffic congestion than the UK, according to new figures. London, Manchester and Liverpool were all among the most congested cities in Europe last year, statistics from traffic information company INRIX showed.
Based on rush-hour commute-to-city travel in 2011, the figures revealed that UK drivers spent 32 hours of the year stuck in traffic, although this was four hours less than in 2010. Heading the congestion list last year was Belgium where drivers wasted 55 hours in traffic. Holland was the next-worst country for jams, followed by Italy.
The INRIX figures also showed that in the London commuter zone last year, drivers wasted 66 hours in traffic, with the Greater Manchester figure being 45 hours and Liverpool being 39 hours.
The worst time for congestion in London was Friday from 4pm to 5pm, while Greater Manchester’s worst time was Tuesday from 9am to 10am, with Liverpool’s jams being at their worst between 4pm and 5pm on Wednesdays.
Source: London Evening Standard, June 2012.

Assignment 1 TASK
As the article above explains road transport in London is more and more congested. Road space throughout Europe, indeed the world, is becoming increasingly scarce as the demand for motor transport increases each year – what do you think are some of the best solutions to reducing the problem? Outline and discuss some economic solutions to the problem of reducing congestion on our roads.
NOTE: You are required to put your work through Turnitin. Further details, if required, will be given out by your lecturer. You are also advised to prepare a draft of his assignment and show your tutor and act on the feedback.

Full guidance on the format and requirements of this assignment will be given by your tutor.
Upon completion of these tasks the following learning outcomes (this is not part of the task) should be achieved:
1. The basic economic problem, opportunity cost and different economic systems
2. Demand and Supply, allocation of resources through the price mechanism in a free market and the concept of elasticity.

Marking Criteria
Assessment Area Weighting
• Opportunity costs.
• Application of the problem of scarcity.
• The importance of externalities and how these impact on economic decisions.
• Show clear understanding of the economic problem.
• Supply and demand & the impact of the price mechanism.
• Clear discussion of the assignment topic area and has addressed the purpose of the assignment comprehensively.
• Appropriate examples are outlined and integrated.
70
Transferable Skills

• Professional presentation of report
• Use of contents table
• Does report has clear, logical structure (introduction, main body, conclusion)
• Academic writing style (is report pitched at the right audience)
• Harvard Referencing Style
• Use of academic resources and other suitable sources
• Thoughts and ideas clearly outlined.