ECO312 - 2012

Some Information about test

02

due to be written on Wed 9th May 2012, starting time 19:00 ie 7pm.

Please note the venue for test 02 has been changed to the GREAT HALL.

What is the format of the test? You will have to answer: Two (2) long essay-type questions each worth 25 marks.

What work must you study in preparation for this test? The prescribed sections of your textbook Chs 8 to 9 (inclusive) as well as the prescribed sections of the prescribed articlesGimwade ch 7, Deraniyagala and Fine (see the list of prescribed material). You should also look at pp 10-12 of the South African Trade policy Strategy Framework for question 1 if you are planning to aim for a high mark Of course if you want to, you may consult more sources (just dont overdo it)!

Herewith is the actual question for question 1. Question 1 According to the South African Trade Policy Strategic Framework the South African government is to follow a strategic tariff policy strategy. Yet the government has imposed a quota on imports of Chinese clothing and textiles into South Africa. You have been invited as guest speaker to explain the above seeming contradiction. In order to help your audience understand the situation you will firstly need to explain the different trade policy instruments available to government (make use of the relevant diagram(s)). Then also briefly explain other factors that would influence the above policy choices. [25] Please bear in mind that you are being supplied with the question so that you can be well prepared for the test. This means the question will be strictly marked. Please look below for the criteria and standards for marking for the test questions.

The criteria for question 1 are: (ie What will I be looking for when I assess your
answer.)

Have you explained the correct and relevant theories with the help of the correct diagrams? Have you critically evaluated the economic effects of the different policy instruments? Have you answered the question? Have you clearly explained not only the main theories but also a few of the other factors that could impact on this type of trade policy decision. Did you attempt to engage with your topic (ie have you thought about the topic; are you expressing an informed opinion about the topic this could become evident in your last paragraph or in the way in which you critically evaluate the different policy instruments) this is if you want a really good mark? This would include using sources other than that which is prescribed or using examples that you have thought up yourself, or using a topical example which shows you have been watching the news or discussing/thinking about the subject.

Standards for marking question 1

Criteria per grade

Percentage

Description of grade
Excellent

Understands and explains the theories very 80% well; diagrams correctly drawn and explained; shows deep understanding and insight into the actual problems and issues involved; critically evaluates the material and the situation; made some own substantiated contribution; answers the question clearly; very well written Understands and explains the theories very 70 well; understands the actual problems and issues involved; critically evaluates the material; diagrams correctly drawn and explained; very well written; answers the question Correctly explains the theories; and correctly 60 draws and explains the diagrams; some understanding evident; some critical evaluation Explains the theories reasonably well; and 50 draws the diagrams reasonably well; very little evidence of understanding or critical evaluation The theories are not really explained; some 49 correct information is given but sometimes out of context; the diagrams are partly correct; no understanding; no critical evaluation Answers have very little bearing on the 39 relevant material or the question; diagrams largely incorrect; no understanding.

Very good

Good

Reasonable

Not up to third year standard. Student would benefit greatly from regularly attending lectures and taking an active part in tutorials. It would appear that student has not been engaging with their studies or they completely misunderstood the question.

And the criteria for QUESTION 2 are

Have you explained the different arguments for and against protectionism in a clear and logical way? Have you critically evaluated the different arguments that contribute to the protectionism versus trade liberalization debate (textbook and additional prescribed material)? Have you incorporated some information and views from the additional prescribed material (ie the articles)? Did you attempt to engage with your topic (ie have you thought about the topic; are you expressing an informed opinion about the topic this could become

evident in your last paragraph or in the way in which you critically evaluate the different arguments/opinions)? (If you want a really good mark.)

Have you made some own contribution (just one will suffice). This could include using sources other than that which is prescribed or using examples that you have thought up yourself, or using a topical example which shows you have been watching the news or discussing/thinking about the subject. (If you want a really good mark.)

Standards for marking question 2

Criteria per grade

Percentage

Description of grade
Excellent

Understands and explains the arguments for 80% and against very well; shows deep understanding and insight into the actual current debate, problems and issues involved; has incorporated the additional prescribed readings; answers the question; made some own substantiated contribution; very well written Understands and explains the arguments for 70 and against very well; shows a good understanding of the current debate, problems and issues; makes reference to the additional prescribed material; answers the question; very well written Explains the arguments for and against very 60 well; some understanding of the current debate, problems and issues evident; refers briefly to the additional prescribed material; well written Explains the arguments for and against 50 reasonably well; very little evidence of understanding the current problems and issues; very little, if any, evidence of additional prescribed material being used; opinions and arguments are not very clearly expressed Some of the arguments for and against are 49 mentioned but not really explained well; very little or no understanding shown; no use of additional prescribed material Answers have very little (or no) bearing on 39 the relevant material or the question; although some facts may be mentioned there is no evidence of understanding; no use of additional prescribed material

Very good

Good

Reasonable.

Not up to third year standard. Student would benefit greatly from regularly attending lectures and taking a active part in tutorials. It would appear that student has not been engaging with their studies or completely misunderstood the question.

I hope that this will also help you to answer this type of applied question in future.

Dr Doreen Bekker 1 May 2012