ASSIGNMENT BRIEFING & FEEDBACK SHEET

NB It is your responsibility as a student to keep a folder containing all your assessed work, including briefing & feedback sheets, to be made available on request for internal and external moderation.

(A)
Programme/Course: HND Business Studies
Validating body: Edexcel
Subject/unit/module: Unit 35 – European Business
Assignment no./ref/title: European Business Assignment
Tutor: Steve Rider
Student:
Internal moderator: Paul Mathers
Selected for internal moderation: Yes  No 

Date returned (following internal moderation if applicable):
Resubmission deadline (if applicable – see feedback):

(B) Declaration of ownership (to be completed by the student)
This submission is the result of my own work. All help and advice other than that received from tutors has been acknowledged and primary and secondary sources of information have been properly attributed. Should this prove to be untrue, I recognise the right of the College to recommend what action should be taken in line with the Regulations on assessment.

(C) Purpose of assignment (learning outcomes/objectives and skills to be assessed)
See attached sheet list outcomes and assessment criteria
(D) Assignment task(s) (see additional sheet for detailed questions, if applicable)
4 tasks detailed on attached sheet:
1. Explain the composition of the UK’s Balance of Payments arrangements, identifying the key elements in detail and indicate how this has a bearing on UK trade policy, explaining the impact of international trade to an open economy and discuss how the UK’s membership of the EU has affected the UK’s trade patterns, the competitive position of the UK, and the UK’s management of exchange rates (LO 1)
2. Explain and evaluate the economic rationale of the EU in relation to:
• exchange rate stability,
• the single currency,
• free trade versus protectionism,
• factor mobility. (LO 2)
3. Describe the major institutions of the EU, showing how they operate and what their structure is, clearly indicating how their operations impact on the policy outcomes and funding arrangements for the EU. (LO 4)
4. Produce an action plan for a specific UK company of your choice to develop trade within the EU. The plan should address the composition, size, infrastructure, and the impact of the Eurozone on the firm’s plans and should evaluate barriers to trade and the impact of regulations and directives faced together with access to EU funding streams.
(E) Reference material (recommended reading/sources of information)
See attached reading list

(F) Assessment/grading criteria (including information on weighting, if applicable, and policies on late submission and resubmission)
Pass, Merit and Distinction Grades awarded.
Work not up to Pass standard to be Referred. In this instance student can improve submission to achieve a Pass. Resubmission should be within two weeks or by a date agreed with tutor.
Late submission is only allowed by prior agreement with tutor who must be satisfied as to the circumstances leading to the need to submit late. Usually independent supporting evidence is required e.g. disruption through illness – Doctors note. Normally the extension will not be longer than two weeks.
Plagiarism and collusion are not allowed. If either are found to have occurred, student will be required to produce a new assignment, and will receive a written warning that future activity of this nature will result in disqualification from the course.
.
(H) Internal moderator comments (if selected for moderation)

The assignment comprises four tasks directly related to the learning outcomes specified in the module. Students must achieve each of these outcomes to pass the module. Further details about this criteria and given on pages 7 to 9 of this assignment brief, together with criteria for merit and distinction awards.
1. All work produced must be an original piece of work by the individual student. The submission for marking and moderation purposes requires students to submit an electronic copy of their work through the College’s Moodle system. This will allow screening through anti-plagiarism software. Any students contravening the College’s policy on plagiarism will have their work disqualified.
2. In regards to the above policy regarding non-original references and academic quotations, all such references must be cited and the original sources quoted in the Reference List at the end of each task. All referencing should be done under the Harvard System format, a full explanation of which will be given by the course tutor
And a guide to the use of the Harvard referencing system can be found at the library Discovery website at :
http://students.themanchestercollege.ac.uk/library
3. Attention to quality of presentation is imperative. Work not presented in an appropriate and professional manner, with correct use of grammar and free from spelling errors, may be penalised by loss of marks awarded for presentation and style, typically a minimum of 10% of marks available.
4. Similarly word counts must be observed within the permitted tolerance of plus or minus 10%. It is part of the academic discipline for students to write appropriate answers within these limits. Any student failing to meet word count requirements will be penalised by loss of up to 10% of marks available.
5. The word count does not include Title Pages, Contents Lists, Acknowledgements, Bibliography or any Appendices. If Charts and/or Tables are incorporated into the answer text, all words used in such Charts or Tables will be counted. The final recorded word count per task must be added at the end of the Task Reference List. Additionally a total word count, (i.e. the sum of the four task word counts), should be given on the Title page of the submission.
If there are any doubts or queries about these instructions please seek advice and clarification from your module tutor in the first instance.

Task 1. (LO 1)

Explain the composition of the UK’s Balance of Payments arrangements, identifying the key elements in detail and indicate how this has a bearing on UK trade policy, explaining the impact of international trade to an open economy and discuss how the UK’s membership of the EU has affected the UK’s trade patterns, the competitive position of the UK, and the UK’s management of exchange rates.
(Indicative word-count: 1200)

Task 2. (LO 2)

Explain and evaluate the economic rationale of the EU in relation to:
• exchange rate stability,
• the single currency,
• free trade versus protectionism,
• factor mobility.
(Indicative word-count: 1200)
Task 3. (LO 3)

Describe the major institutions of the EU, showing how they operate and what their structure is, clearly indicating how their operations impact on the policy outcomes and funding arrangements for the EU.
(Indicative word-count: 1200)

Task 4. (LO 4)

Produce an action plan for a specific UK company of your choice to develop trade within the EU. The plan should address the composition, size, infrastructure, and the impact of the Eurozone on the firm’s plans and should evaluate barriers to trade and the impact of regulations and directives faced together with access to EU funding streams.
(Indicative word-count: 2200)
European Business – Marking Scheme

Element Available Mark Tutor Comments Awarded Mark

Task 1 The UK’s Balance of Payments arrangements and its effect on UK trade policy, and the UK’s competitive position. 20
Task 2 The economic rationale of the EU in relation to:
• exchange rate stability,
• the single currency,
• free trade versus protectionism,
• factor mobility. 20
Task3 Describe the major institutions of the EU, indicating how their operations impact on the policy outcomes and funding arrangements for the EU.
20
Task 4 Produce an action plan for a specific UK company of your choice to develop trade within the EU. 30
Format & Style Grammar, spelling, observation of word-counts, referencing, style of presentation. 10

• Aim
To provide learners with an understanding of the importance of international trade and in
particular UK trade with the European Union.
• Unit abstract
As an open economy the UK not only engages in international trade, its very survival depends on
it. Despite having a sophisticated and highly productive agricultural sector we can feed only
approximately 50 per cent of our population.
It is important, therefore, that learners seeking employment in the business world realise that if
we do not export sufficient goods or services we can not afford to import the food and raw
materials we need to maintain our economic wellbeing.
The first part of the unit focuses on international trade in general and the balance of payments as
a monitoring device, whilst the second part concentrates on the EU and the economic theories
that underpin its creation. The unit then examines the role and significance of the main EU
institutions, particularly in relation to their policy-making and implementation functions. Finally,
the unit requires learners to research a particular area of economic activity and then apply the
discipline of action planning to a hypothetical UK company seeking to begin operating within the
EU.
• Learning outcomes
On successful completion of this unit a learner will:
1 Understand the significance of international trade and the balance of payments to open
economies such as the UK
2 Understand the economic rationale underpinning the European Union (EU)
3 Understand the role of the major EU institutions
4 Be able to develop an action plan for a specific UK company wishing to trade within the EU.
UNIT 35: EUROPEAN BUSINESS
BH023329 – Edexcel BTEC Levels 4 and 5 Higher Nationals specification in Business

Unit content

1 Understand the significance of international trade and the balance of payments to
open economies such as the UK:

International trade:

• imports and exports;
• visibles and invisibles;
• open and closed economies;
• comparative and absolute advantage;
• the terms of trade;
• exchange rates

Balance of payments:

• structure – current account; capital account;
• visible trade balance;
• invisible trade balance;
• current account balance;
• capital transfer balance;
• balancing items;
• equilibrium;
• surplus and deficit;
• the significance of long term deficits

2 Understand the economic rationale underpinning the European Union (EU)

• Exchange rates: fixed and floating
• Single currency: arguments for and against the Euro; The Euro Zone/Area (EMU)
• Free trade versus protectionism: tariffs, quotas, competition, regulation/deregulation
• Factor mobility: geographic and occupational mobility of labour and capital/funds

3 Understand the role of the major EU Institutions

Institutions:

• the European Parliament,
• the Council of the European Union,
• the European Council,
• the European Commission,
• the European Court of Justice,
• the European Court of Auditors.
• the European Central Bank,
• the Presidency

Policy outcomes:

• European Directives and European Funding eg European Regional
Development Fund (ERDF), European Social Fund (ESF), the Cohesion Fund

4 Be able to develop an action plan for a specific UK company wishing to trade
within the EU

The EU as a trading bloc:

• composition,
• size,
• infrastructure,
• The Euro Zone/Area (EMU)

• Barriers to trade: linguistic, cultural, logistical and environmental
• EU Directives: policy initiatives and directives relevant to the chosen company
• EU funding streams: EU funding streams that may be available to the chosen company

UNIT 35: EUROPEAN BUSINESS
BH023329 – Edexcel BTEC Levels 4 and 5 Higher Nationals specification in Business –
Learning outcomes and assessment criteria
Assessment criteria for pass
The learner can:

LO1 Understand the significance
of international trade and the
balance of payments to open
economies such as the UK
1.1 explain the importance of international trade to an open economy such as the UK.
1.2 assess the significance of comparative advantage, absolute advantage, the terms of trade and exchange rates.
1.3 describe the structure of the balance of payments.
1.4 explain the terms ‘surplus’ and ‘deficit’ and significance of long-term deficits to open economies.

LO2 Understand the economic
rationale underpinning the
European Union (EU)
2.1 explain the role played by exchange rates in international trade.
2.2 analyse the advantages attributed to the adoption of a single European currency.
2.3 explain the difference between free trade and protectionism and the role played by tariffs, quotas and deregulation within the EU. 2.4 evaluate the importance of geographic and occupational mobility in wealth creation.

LO3 Understand the role of the
major EU Institutions
3.1 explain the role of the main EU institutions in determining and legitimising policy.
3.2 assess the role played by EU directives.
3.3 evaluate the structure and purpose of the main EU funding streams such as the ERDF and the ESF.

LO4 Be able to develop an action
plan for a specific UK
company wishing to trade
within the EU
4.1 produce a profile of the EU as a trading bloc.
4.2 evaluate the significance of linguistic, cultural, logistical and environmental barriers to EU operations.
4.3 carry out an audit of possible EU funding streams that may be available and relevant directives.
4.4 produce an action plan which lists the actions necessary to begin such a venture.
Merit Descriptors

Exemplar indicative characteristics
In order to achieve a Merit the learner must: The learner’s evidence will show, for example:
• Identify and apply strategies to find appropriate solutions to tasks set
• That effective judgements have been made
• Complex problems with more than one variable have been explored
• An effective approach to study and research has been applied.

• Select and/or design and apply appropriate methods and techniques
• Relevant theories and techniques have been applied
• A range of methods and techniques have been applied
• A range of sources of information has been used
• The selection of methods and techniques/sources has been justified
• The design of methods and techniques has been justified
• Complex information/research data has been synthesised and processed
• Appropriate learning methods and techniques have been applied

• Present and communicate appropriate findings
• An appropriate structure and approach has been used
• Coherent and logical development of principles and concepts for the intended audience is shown
• A range of methods of presentation have been used and technical language has been accurately used
• Communication has taken place in familiar and unfamiliar contexts
• Communications are appropriate for both familiar and unfamiliar audiences and appropriate media have been used.

dististinction Descriptors

Exemplar indicative characteristics
In order to achieve a Distinction the learner must: The learner’s evidence will show, for example:
• Use critical reflection to evaluate own work and justify valid conclusions
• Conclusions have been arrived at by synthesis of ideas and have been justified
• The validity of results has been evaluated using defined criteria
• Self-criticism of approach has taken place
• Realistic improvements have been proposed and defined characteristics of success

• Take responsibility for managing and organising activities
• Autonomy/independence has been demonstrated
• Substantial activities, assignment task projects and investigations have been planned, managed and organised
• All relevant activities have been managed
• Unforeseen events/consequences have been accommodated
• The importance of interdependence has been recognised and achieved.

• Demonstrate convergent/lateral/creative thinking
• Ideas have been generated and decisions taken
• Self-evaluation has taken place
• Convergent and lateral thinking have been applied
• Problems addressed have been solved
• Innovation and creative thought has been applied
• Receptiveness to new ideas is evident
• Effective thinking has taken place in unfamiliar contexts.