EFIM20002 UG 24-25 Assessment brief - Coursework

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Coursework Brief

Please answer ALL questions in Section A and ONE question from Section B.

Section A. Total marks = 40.

Answer ALL questions in this Section. As a guide, your answer to each question should be around 200-250 words.

Question A1 (20 marks)

Using a model, demonstrate how large and small increases in the minimum wage may have opposite effects on employment. What is the intuition? What assumption is needed on competition in the labour market?

Question A2 (20 marks)

The following table extract is taken from Finkelstein et al (2012).1 Explain conceptually the difference in the results presented in column (2) and those in column (3). What do these results tell us about the presence of moral hazard in medical insurance on average in the US population?
Section B. Total marks = 60.
Answer ONE question in this Section. As a guide, your answer should be around 1000 words.
Question B1 (60 marks)
In the UK, the level of minimum wage a worker is entitled to depends on their age. In its manifesto ahead of the 2024 General Election in the UK, the Labour Party committed to “remove the discriminatory age bands to ensure every adult worker benefits [from the minimum wage]”.

It has since announced new minimum wage rates, effective from 1 April 2025, which take steps towards this goal by closing the gap between the National Living Wage (which is the minimum wage applicable for workers aged 21 and over) and the minimum wages for younger workers.

Source: https://www.gov.uk/government/publications/minimum-wage-rates-for-2025

Drawing on theory and empirical evidence, critically evaluate whether the level of the minimum wage should depend on a worker’s age. Do you think government should remove the dependence of the minimum wage on a worker’s age?

Finkelstein, A. et al. (2012) ‘The Oregon Health Insurance Experiment: Evidence from the First Year’, Quarterly Journal of

Economics, 127(3), pp. 1057–1106. doi:10.1093/qje/qjs020.Question B2 (60 marks)

In the 24 months up to the end of March 2024, 18 million adults in England were seen by a dentist as an NHS patient. However, unlike other parts of the NHS, most adults must pay to see a dentist under the NHS: as of December 2024, these prices ranged from £26.80 for an examination or minor treatment to £319.10 for more substantial dental work.

Drawing on theory and empirical evidence, critically evaluate the existence of charges to access dental treatment in the UK. You should discuss the likely impacts on economic efficiency and social welfare in your answer.Penalties for late work

Assignments handed in after the deadline, without a pre-arranged extension will be subject to the following penalty:

• A fixed absolute penalty of 10 marks is applied for each 24-hour period work is submitted after the agreed deadline. Please note, weekend days count towards the calculation of late penalties. Public holidays in England, and University closure days do not.

• A mark of zero is automatically applied to work submitted late such that at least four such 24-hour periods have elapsed.

Penalties for work over the maximum word count

You are expected to include a word-count on the first page of the assignment. Footnotes should be avoided.

• Direct quotations will count towards the word-count
• Reference lists/bibliographies will not count within the word-count
• Coversheets will not count within the word counts

• Tables and figures (i.e. diagrams) will not count within the word counts.

If you are found to have put an inaccurate word-count on your submission, a penalty of 5 marks may be imposed, over and above the penalties below:

Assessment exceeds word limit by up to (percentage of maximum)
 Penalty deducted from intellectual mark
5%
 5 marks
10%
 10 marks
15%
 15 marks
20%
 20 marks
25%
 30 marks
More than 25%
 Mark of zero applied

For example, for a 2,000 word assignment, if a student handed in a piece of work consisting of 2,050 words, your mark would be reduced by 5 marks. This is because the piece of work is between 0% and 5% over the maximum limit.

Academic Integrity

In academic writing, plagiarism is the inclusion of any idea or any language from someone else without giving due credit by citing and referencing that source in your work. This applies if the source is print or electronic, published or unpublished, another student’s work, or any other person.

The University's Examination Regulations state that “Any thesis, dissertation, essay, or other course work mustbe the student’s own work and must not contain plagiarised material. Any instance of plagiarism in such coursework will be treated as an offence under these regulations.” (Section 3.1).

The Examination Regulations give information on the University's procedures for dealing with cases of plagiarism in undergraduate programmes (Section 4)

More information about plagiarism, and how to avoid it is available from the Library website.

School of Economics policy on the use of artificial intelligence in coursework
- You may use artificial intelligence to support your learning and coursework. For example, you can use artificial intelligence to explore concepts, suggest study plans or relevant literature, or provide general feedback on your draft.
- You may not use artificial intelligence to write any part of an assignment for you. This includes original drafting but also text that results from prompts like “Improve the writing in this paragraph.” Your assignment should never contain passages, sentences or phrases that are taken word-for-word from artificial intelligence output. Just as for other sources, the exception is if you put this text in quotation marks and cite the original (artificial intelligence) source.
-You may not write any part of your assignment in another language and use automated tools or a translator to translate it into English. We expect our students to be able to communicate in written as well as spoken English.
- You are advised never to take output from artificial intelligence tools at face value. Always fact-check any information it provides and cite reputable sources, such as peer-reviewed publications, in your coursework. And be aware that the economic reasoning in artificial intelligence output is often poor
and would in many cases receive a low mark if submitted as coursework, even if re-written in your own words.
Referencing
If you reference papers in your answers, you should reference them using a consistent referencing system, such as the Harvard referencing system; you should normally cite sources in the text. As a general rule, you should avoid using footnotes to reference.
• If you include a quote, it should be in quotation marks, and a page number included in the in-text reference.
• Whilst you should normally avoid larger quotes, if you include them, you should also indent the text.
If you cite a paper in your essay, you should also include a full reference to the paper in the reference list at the end of the paper.
• Do not list papers in your reference list that you have not referenced in the paperUniversity marking criteria Level 5 (Second-year undergraduate level)

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