Arab Open University DD202A Tutor Marked Assignment (2016-2017, Second semester) Cut-off Date: 2 May, 2017 [100 marks] This TMA expects you to produce an essay based on what you have learned in your DD202A course, chapters four and five, “Economics and Economic Change”. It is marked out of 100 and is worth 20% of the overall continuous assessment. This TMA requires you to apply the course concepts to your own experience and to discuss the economic change of such an application. The TMA: The TMA is intended to develop your evaluative skills in explaining the factors affecting the demand for and supply of apartments. Please read the following article and answer the question listed below: The Question: 1. Discuss and analyse the most important factors that affect demand and supply for housing in the country you are living in. 2. Critically evaluate rent-control policy implemented in the country you are living in. Please read the guidance before you start writing your TMA. Guidance notes for TMA For this TMA, you are required to write a well-structured essay of no more than 1200 words. This means that your TMA should be in three parts as follow: Part (a) In this part, you need to write an introduction describing, in general, the important theoretical factors that affect both demand and supply based on what you learned in your DD202A course. This part of the TMA should not exceed 400 words. Your introduction, as well as other parts of your TMA, must be based on recent references. Part (b) In the essay’s body, you need to answer the above question by discussing the possible demand and supply factors that affect the market of housing in the country you are currently living in. Since much of the market analysis section relies on raw or secondary data, the internet is a great place to start. From your analysis, try to point out whether the demand for housing or renting apartments in your area be relatively inelastic or relatively elastic and state why. Then, try to discuss the different policies that government adopts to move the supply curve to the right, you may also provide some examples of rent-control policy implemented in your country to regulate the prices of houses or help to balance the relationship between landlords and tenants. Therefore, your tutor will expect you critically evaluate rent-control policy. An example of these policies is the decree issued by the government of UAE capping the increase at a maximum of 7 percent of the annual rent with effect from January, 2010. It is highly recommended to draw the demand and supply curves showing the initial equilibrium price and quantity. Label carefully. It is expected to provide proper graphs that explain the effect of policies on the demand for housing. You may translate your data into diagrams and match the theory with the application you are discussing. This part of your essay has the weightiest part of the TMA and carries the highest proportion of marks. You should spend no more than 600 words on this part of the TMA. Part (c) This is the conclusion part of your essay. You are required to include a summary of what you have discussed in your essay showing how the policy makers may benefit from your analysis. (200 words). The assessment of the quality of your essay will be based on how you convince the reader (grader) about your knowledge and understanding of the topic. Attempt to use your own words and avoid using a copy-paste. Plagiarism is strictly non-tolerated. Your TMA should be attached with the following PT3form. Good luck..   Arab Open University Tutor Marked Assignment (TMA) Academic Year 2016 - 2017 Semester : Second Branch: Program: Business Studies Course Title: Economics and Economic Change Course Code: DD202A Student Name: Student ID: Section Number: Tutor Name: Total Mark: Awarded Mark: Mark details Allocated Marks Questions P(a) P(b) Graph Total Weight 30 50 20 Marks Deducted Marks Criteria Presentation 5 Referencing 5 Word Count 5 E-Library 5 Total Marks 100 Student’s Total Mark Notes on plagiarism: A. According to the Arab Open University By-laws, “the following acts represent cases of cheating and Plagiarism:  Verbatim copying of printed material and submitting them as part of TMAs without proper academic acknowledgement and documentation.  Verbatim copying of material from the Internet, including tables and graphics.  Copying other students’ notes or reports.  Using paid or unpaid material prepared for the student by individuals or firms. B. Penalties for plagiarism ranges from failure in the TMA to expulsion from the university. Declaration: I hereby declare that the submitted TMA is my own work and I have not copied any other person’s work or plagiarized in any other form as specified above. Student Signature ……………………. Tutor’s Feedback Tutor Name: Tutor Signature: Date returned: