ECON6000 Economic Principles and Decision Making

Assessment 3: Reflective Journal

Context

This assessment allows you to reflect on how assessments 1 and 2 have helped you to understand the overall subject contents and apply the core concepts in real-time job environment. This assignment is to mainly help you reflect how the unit has helped you with a sound understanding of the volatility of business environment and effective decision making skills as business economists. Your reflection will be a maximum of 1500 words. You will have a minimum of 6 academic references to support your answer. Do not include information from blogs. You will follow APA 6th edition referencing style.

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Referencing

It is essential that you use appropriate APA style for citing and referencing research. Please see more information on referencing here.

http://library.laureate.net.au/research_skills/referencing

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ECON6000 Economic Principles and Decision Making

The course ECON6000 Economic Principles and decision making process involves three steps;

To understand the principles
To relate the decision making
To recommended the changes required

It is crucial to understand the right principle presented in the scenario. It is to be interpreted and analyzed in the way to make a decision that affects the economy market.

The purpose of writing reflective journal on economic principles and decision making is to reflect on how this course helped to understand the economic concepts and its application to real-life environment. The writing helps the individual to revive the economic content learnt and to map the progress, as well as opinions and changes in perceiving specific topic. It is assigned in variety of disciplines in economics, where practical task and relatively complex concepts are concerned. The assessment is entirely based on creating a reflective journal on the course studies that demonstrates:

Interpretation and successful application of concepts.
Cost understanding and application of new knowledge.
Critically evaluating the impact and role of government in the particular economy.

Overall, it aims to build understanding on volatility of business environment and effective decision making as going to be economist.

The reflection paper engages the writer with economic theories and concepts by connecting personal experiences, opinions, observation and knowledge. Here it is essential to:

Show familiarity with relevant economic literature.
Explain and analyze subject concepts from personal view and reflect the ability to think critically and make evaluation on existing sources.
Articulate connection between one’s own experience and economic concepts.
Demonstrate subject learning, experience and useful recommendations in terms of future actions.

As reflective journal differs from general academic writing assignments;

It concern personal thoughts and experiences, and is therefore have subjective grounds.
It is logical and reflective, but incorporates personal experiences, hypotheses assumptions and requires creative content and structure.
It doesn’t demand drawing evidences from academic sources and go through extensive research for literature.

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