Topics: Macroeconomics, Monetary policy, Keynesian economics Pages: 9 (1743 words) Published: May 7, 2014
Business and Economic Environment

Assignment Brief

Assessment Activity Front Sheet

This front sheet must be completed by the learner and included with the work submitted for assessment.

Advanced Diploma in Contemporary Contexts
Unit Module
Business and Economic Environment
Learner Name

Assessor Name
Lilian Onuegbu
Date Issued
21 February 2014
Hand in Date
16 May 2014
Submitted on

Internal Verification
By whom
Vera Dearman
Date verified
31 January 2014

This assignment will give learners the opportunity to achieve: Learning outcome 1: Understand the impact on businesses of changes in the economic environment Learning outcome 2: Know how government spending impacts on businesses Learning outcome 3: Understand fiscal and monetary policies and the effects on spending Learning outcome 4: Know how the international economy affects UK businesses and competition.

Learner’s Declaration

I certify that the work submitted for this assignment is my own.

Learner signature: Date:


Task 1.
The changing nature of business and increased regulations mean that organisations across all sectors of the economy need to understand the impact of the changes on their key decisions, to ensure that their decisions match with the current economic situation, to justify their investments internally and externally and to develop and sustain partnerships and alliances. To do this they need to have clear understanding of direct financial effects as well as the wider economic, social and environmental impacts.

Select one of the UK organisations and complete the following tasks relating to the learning outcomes. Note: Students within the same group must not choose the same organisation.

Task 1a. Impact of Economic Change on a Selected Business
In order to complete this task, the student must:
investigate the business cycle and the reasons for fluctuations in the cycle. identify the aims of government policy in managing the business cycle explain how the aims of government policy need to be reconciled consider how changes in the business cycle affect a selected business. examine the range of government policies that have an impact on a selected business explain how specific government policies affect a selected business.

This provides evidence for:
P1 Explain the effects, of changes in the economic environment on a selected business P2 Identify how government policies impact on a selected business

Task 1b. The Role of Government Spending in the Economy and its Impact on a Selected Business In order to complete this task, the student must:
investigate the size of and trends in government spending
investigate the nature of government spending
identify the importance of government spending to businesses and communities consider the multiplier effect of government spending by considering national and local examples explain the role of private finance initiatives.

This provides evidence for:
P3 Identify the impact of government spending on a selected business

Task 1c. Fiscal and Monetary Factors

In order to complete this task, the student must:
define fiscal policy and its components
identify the role of fiscal policy
explain the need to raise revenue to fund expenditure
examine the importance of deficit financing
explain the budgetary process
examine the impact of fiscal policy on a selected business
define monetary policy and its components
identify the role of monetary policy
explain how the government manages monetary policy
examine the impact of monetary policy on a selected business.

This provides evidence for:
P4 Explain how both fiscal and monetary policy decisions have affected a selected business

Task 2. Impact of European and Global Factors on the UK

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