Case study 1/Oil prices fall on dimming prospect of output restraint.
SINGAPORE | By Henning Gloystein
SINGAPOREOil prices fell on Monday as the chances of Middle East producers agreeing to curb overproduction appeared to fade, while stubbornly high U.S. output and worries about Asia’s economic outlook also dragged on prices.
Iran, returning to global oil markets after sanctions against it were lifted in January, said it would continue increasing its oil production and exports until it reaches the market position it enjoyed before the imposition of sanctions, according to a media report.
This makes a proposed deal by major producers to restrict ballooning output unlikely as top exporter Saudi Arabia said last week it would only participate if its rival Iran also took part.
…Despite a pick-up in recent economic data, including from India and China, analysts also poured cold water on hopes that Asia’s economic prospects were improving.
“Asia continues to face a structural growth problem – one that will not be cured in the space of a few, short months,” said HSBC’s Frederic Neumann. Asia has been a key consumer of crude oil over the past decade so this development is likely to further depress the price.
(Reporting by Henning Gloystein; Editing by Himani Sarkar)
http://www.reuters.com/article/us-global-oil-idUSKCN0X100H

1. With reference to the economic theory of demand and supply explain what supply AND demand side factors are contributing to the falling oil price based on the information in the above article. In your discussion reference the demand and supply model (Note: You do NOT have to draw a diagram but you need to refer to shifts of demand and supply in your answer) (10 marks)
2. How would the falling oil prices affect the market for cars? Justify your answer by describing how the economic market model of demand and supply would apply to this case. (Note: you DO NOT have to draw the model in your answer but you may like to do it separately to assist you answering the question) (10 marks)
• Please remember to reference your answers (and quote relevant economic theory) and provide a reference list at the bottom.
• DO NOT exceed 200 words by more than 10%
• An example of a discussion case study answer is available on the portal under assessments
Important notes:
I did attached sample case study answers as well for you to know how to answer this case study.
So plz do that way.
You have to give me two answers for this case study because its for two person (for me and for my friend). Each must have 200 words. Both has to be separated way to avoid plagiarism plz plz.
Make sure that in yr ans u are using economic theory frm the relevant topics to back up your arguments, otherwise marks wont be awarded.
Assessment Information
COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969
This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material
in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection
under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86 098 181 947 is a
registered higher education provider CRICOS Provider Code 02426B.
Assessment Information
Subject Code: GB540
Subject Name: Economics for Global Decision Makers
Assessment Title: Case Study Discussions
Weighting: 30%
Total Marks: 60
Due Date: -Case Study Answers due by 10pm (AEST) Thursday Weeks 4,7,9 and 11
-Critical Discussions due by 10 pm (AEST) Sunday Weeks 4,7,9 and 11
Assessment Description
.
Overview
• At the beginning of Weeks 4, 7, 9 and 11 a case study will be published on the GB540 Portal page in a
discussion forum under the relevant week in which it needs to be completed.
• The case studies address different topics (see table below)
• Each case study will have 1-2 questions related to it
Students have two tasks (see table below):
1. Students need to answer questions for all 4 Case Studies on the relevant discussion forum. These
responses will be due by 10pm (AEST) Thursday of the week of the relevant case study (i.e. Weeks 4,
7, 9 and 11). See below for more details.

2. Students must critically evaluate at least one responses from other students for each of the 4 case
studies in the weeks 4, 7, 9 or 11. These critical discussions are due by 10pm (AEST) Sunday of the
week of the relevant case study. In total this means you will critically evaluate four responses from other
students. See below for more details.
Week # Case Study to attempt during week To do by due date
Week 4 Case Study based on any of Topics 1- 2 under Week 4 on
portal
• Economic Decision Making
• Applications of Market Models
1. Reply to Case Study Questions by
Thursday Week 4 10pm AEST
2. Critically evaluate one student’s response
by Sunday Week 4 10pm AEST
Week 7 Case Study based on any of Topics 3-5 under Week 7 on
portal
• Demand Analysis 1
• Demand Analysis 2
• Managing in the Global Economy 1- Exchange Rates
1. Reply to Case Study Questions by
Thursday Week 7 10pm AEST
2. Critically evaluate one student’s response
by Sunday Week 7 10pm AEST
Week 9 Case Study based on any of Topics 6-7 under Week 9 on
portal
1. Reply to Case Study Questions by
Thursday Week 9 10pm AEST
Assessment Information
COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969
This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material
in this communication may be subject to copyright under the Act. Any further reproduction or communication of this material by you may be the subject of copyright protection
under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86 098 181 947 is a
registered higher education provider CRICOS Provider Code 02426B.
• Managing in the Global Economy 2- Trade
• Production Cost Analysis
2. Critically evaluate one student’s response
by Sunday Week 9 10pm AEST
Week 11 Case Study based on any of Topics 8-10 under Week 11 on
portal
• Pricing and Output Strategy 1
• Pricing and Output Strategy 2
• Modelling the Macroeconomic Environment
1. Reply to Case Study Questions by
Thursday Week 11 10pm AEST
2. Critically evaluate one student’s response
by Sunday Week 11 10pm AEST

Requirements and Structure
1. Case study answers (Due 10pm Thursdays Weeks 4,7,9 and 11)
• Each case study will have 1-2 questions which students need to answer using no more than 200 words (-
/+ 10%) for each question.
• The answer needs to directly address the question(s) with reference to theory and at least one external
source (which can be the textbook). The answer does not have to be in essay or report form.
• At the end of the trimester students will be given a mark out of 40 for the responses based on the
marking rubric below.
• Ideas and information adapted from sources other than the lectures or tutorials need to be referenced
using Harvard referencing (see the Referencing Guide on the portal).
o Plagiarism will be penalised. For details see “Academic Integrity, Honesty and Conduct Policy” at
http://www.kbs.edu.au/wp01-content/uploads/2014/01/KBS-Academic-Honesty-integrity-and-conduct-Feb-
14.pdf
Please see “Example of Referenced Case Study Response” for an example of a case study answer.
2. Critical discussion of other students’ answers (Due 10pm Sunday Weeks 4,7,9 and 11)
• Throughout the trimester students need to critically evaluate one student answer in Week 4,7,9 and 11
(to four different case studies) along the following guidelines:
o Has the answer applied the correct economic theory to analysing and addressing the case study
questions? Why or why not?
o Is there a better way to address the question using economic theory and/or other considerations?
If so, briefly, what is it?
• Your evaluation should be no more than 200 words (-/+ 10%)
• At the end of trimester students will be given a mark out of 20 for the critical discussions based on the
marking rubric below.
Please see “Example of Critical Discussion” on the portal for information on how to answer the questions
Assessment Rubric and Feedback
Please see the below rubric for information on how marks will be allocated for each of the two tasks above.
Case Study Discussion 1 and Critical Discussion 1 (only) will be graded within two weeks of the due date
and rubrics will be emailed to students to provide them some feedback for the first attempt. However, marks for
the remaining Case Study Discussions will be awarded at the end of the trimester for both case study answers
and critical discussions in the form of one mark /60 for all Case Study Discussions and Critical reflections 1-4.
However, general feedback will be provided by the Academic Head after the Sunday of weeks 4,7,9 and 11 on
the forums which gives a brief outline of what answers needed to address, what all students have done well and
what can be improved on.
COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969
This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material in this communication may be subject to copyright under the Act. Any further
reproduction or communication of this material by you may be the subject of copyright protection under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86
098 181 947 is a registered higher education provider CRICOS Provider Code 02426B.
Assessment Marking Rubric
Criteria HD (High Distinction)
85%-100%
DN (Distinction)
75%-84%
CR (Credit)
74%-65%
P (Pass)
50%-64%
NN (Fail)
0%-49%
Score
1. Case Study Answers
Application and analysis
20 marks
The student provides a
comprehensive response
that exhibits ability to
analyse a case and apply
an optimal solution to
prescribed questions with
reference to economic
theory
The student provides a
well-supported response
that exhibits ability to
analyse a case and apply
a solution to prescribed
questions with reference to
economic theory
Provides a response that
exhibits knowledge of relevant
economic theory and the ability
to apply it to a case using some
analysis.
Lacks some clarity and logic.
Provides a response that
shows limited knowledge of
relevant economic theory
and a limited ability to apply
it to a case using some
analysis.
Lacks clarity and logic.
Provides a poor or no
response that exhibits
simplistic or reductive
analysis and application
skills
Judgement
10 marks
The student formulates
and justifies a wellreasoned
solution or
recommendation, where
relevant, which
demonstrates a critical
application of economic
theory to a multifaceted
real-life scenario
The student formulates
and justifies a wellreasoned
solution or
recommendation, where
relevant, which
demonstrates an
application of economic
theory to a multifaceted
real-life scenario
The student formulates and
partly justifies a solution or
recommendation, where
relevant, which demonstrates
an application of economic
theory to a real-life scenario
The student formulates but
does not clearly justify a
solution or recommendation,
where relevant, which
demonstrates limited
applications of economic
theory
The student us unable to
formulate or justify a
solution which considers
economic theory and lacks
logic in their arguments
Research, referencing and
structure
10 marks
The student has
researched the relevant
economic theory by using
more than one external
source and has referenced
correctly.
The response directly
addresses the question
and is within the word limit
while being well supported
with no errors in logic
The student has
researched the relevant
economic theory by using
at least one external
source and has referenced
correctly.
The response directly
addresses the question
and is within the word limit
while being supported with
no errors in logic
The student has researched
economic theory by using one
external source and has
referenced correctly in most
instances.
The response directly addresses
most of the question and is
within the word limit while being
supported with few errors in
logic
The student has not
researched economic theory
and has not referenced
correctly in most instances.
The response addresses
some of the question and is
not within the word limit with
many errors in logic
The student has not
included any relevant
economic theory in their
response and has not
adequately addressed the
question.
The response is not within
the word limit and lacks a
logical argument.
2. Critical Evaluations
Analysis and evaluation
The student can
methodically analyse
another student’s response
in light of relevant
economic theory and can
The student can analyse
another student’s response
in light of relevant
economic theory and can
somewhat assess whether
The student can analyse another
student’s response in light of
related economic theory and can
see some in some instances
whether the other student has
The student can analyse
another student’s response
with limited reference to
economic theory and cannot
always judge whether the
The student cannot
determine whether the
other student’s response
has addressed the
question and makes little
COMMONWEALTH OF AUSTRALIA Copyright Regulations 1969
This material has been reproduced and communicated to you by or on behalf of Kaplan Business School pursuant to Part VB of the Copyright Act 1968 (‘Act’). The material in this communication may be subject to copyright under the Act. Any further
reproduction or communication of this material by you may be the subject of copyright protection under the Act. Kaplan Business School is a part of Kaplan Inc., a leading global provider of educational services. Kaplan Business School Pty Ltd ABN 86
098 181 947 is a registered higher education provider CRICOS Provider Code 02426B.
10 marks
assess whether they have
addressed the question
they have addressed the
question
addressed the question question has been
addressed
reference to economic
theory
Critical thinking
10 marks
The student can critically
evaluate another student’s
response and clearly
identify the main strengths
and weaknesses with
reference to economic
theory, while
recommending an
alternative interpretation or
solution where relevant
The student can critically
evaluate another student’s
response and clearly
identify strengths and
weaknesses with reference
to economic theory
The student can evaluate
another student’s response and
identify some improvements
which can be made to their
response
The student can evaluate
some parts of a student’s
response and identify limited
improvements which can be
made to their response.
Argument not logically
supported.
The student cannot
evaluate another student’s
response or identify
strengths or weaknesses.
Comments:
Assignment Mark/Grade:
Total score