Using the UK as a reference, discuss the micro and macro effects of tax changes on economic growth. Should the UK government adopt the reduction of tax brackets for the very rich?

Order Description
1. Instructions
1.1. The research question of your coursework
? The background to the coursework is as follows:
In the run for the UK general elections, Theresa May said the Conservatives are likely to abandon the Tories triple tax lock commitment and have ruled out increases to VAT. However, she said, if they win, a future Conservative government may raise national insurance and income tax. A Labour government may introduce tax rises on those paying the top rate of tax at 80,000 and above, and Labours biggest tax increases would probably be reserved for the richest.
? The coursework question is:
Using the UK as a reference, discuss the micro and macro effects of tax changes on economic growth. Should
the UK government adopt the reduction of tax brackets for the very rich?
1.2. Expectations:
? The essay should be about 1,500 words in length.
? In writing the essay, you should make use of the basic principles of micro and macroeconomics including the relevant theories associated with macroeconomic policy objectives. You will also need to consider how these theories relate to the case of the UK.
? You are expected to use relevant diagrams to demonstrate how the case you are discussing and your arguments are linked to the economic theories.
? You are also expected to use the skills you learned during your EAP and Study Skills classes to do research, reference your sources, develop and support your arguments, and to structure your coursework essay.
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1.3. Use of sources:
You are expected to use sources to support your arguments.
? You need to use all the sources form the Compulsory Reading list below in your essay.
Compulsory reading list and sources:
NB: The entries have not been referenced according Harvard system you will need to do that yourself. 1. Essentials of Economics by John Sloman and Dean Garratt.
2. https://www.brookings.edu/research/effects-of-income-tax-changes-on-economic-growth/-Youcanmake use of the abstract as a guide to your broad introduction.
3. https://www.ifs.org.uk/uploads/publications/bns/BN_182.pdf – pages 9-20
Additionally, you need to conduct independent research and find at least two more reliable sources.
? Use ACCAA tool you know from your EAP classes to assess suitability of your sources for an academic coursework essay.
? Use City University of London library, INTO City LRC, JStore and government data bases to find suitable data and theoretical support for your arguments.
? For data on taxation, you are expected to use reliable data bases, for example: o The Office for National Statistics: www.ons.gov.uk
? Wikipedia, Investopedia, online revision notes for exams in Economics, BBC bitesize, blogs (even from ac.uk sites) and other similar sources are not acceptable for academic coursework.
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? You may use reputable newspapers (broadsheets) for some of your examples but you should not use them for any of your main arguments.
o In case you are using data from journalistic sources, you need to find data for the same category from at least one other source.
o In case of discrepancy in data, you need to include a critical evaluation of reliability of your sources / scope of research / representative sample / etc. to make clear which data is more reliable.
4. YouneedtocitetheminthetextandincludetheminyourReferenceList.
5. All referencing is expected to follow Harvard referencing system.
2. Guidelines
2.1. Essay Structure with suggested approximate word count and headings: NB: You need to use headings in this coursework essay.
Introduction [200 words]
You should include:
? the background information
? what the issue is
? key term definitions
? the aims (= thesis statement)
? the objectives (= map sentence)
Section 1: Position of taxation in the context of fiscal policies (300 words)
? General correlations between taxation, expenditure and debt.
? Contractionary and expansionary fiscal policies and their aims.
? Define and briefly explain the taxes that are currently used.
? Explain which taxes have mainly microeconomics impact, and which have mainly macroeconomics impact.

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Section 2: The potential impacts of taxation on economic growth [400 words]
Identify and analyse the potential micro- and macroeconomic impact of reducing tax brackets on the high income group. You can use the headings below.
You are not required to use all of them, but you have to compare and contrast two types of impact, both on micro- and macroeconomics
? Positive microeconomics impacts v negative microeconomics impacts
? Positive macroeconomics impacts v negative macroeconomics impacts
Or
? Short- run microeconomics impacts v long-run microeconomics impacts
? Short- run macroeconomics impacts v long-run macroeconomics impacts
Section 3: An alternative approach to managing the economy apart from fiscal policies. [400 words]
? Discuss an alternative approach which you consider effective.
? Explain the economic benefit/rationale for your choice.
? Use relevant data to support your analysis.
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Conclusion [200 words]
You should include:
? ?
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2.2.
? ? ?
? ? ?
a clear answer to the question in the task
a summary of your arguments to provide rationale for this particular answer.
a critical comment on the severity of micro- and macroeconomic impacts or: a critical comment on the similarity or difference of short- and long-run impacts
a critical comment on the effectiveness of your suggested alternative approach in comparison with the one in the question
a brief comment on any unexpected findings what you read on the topic that surprised you?
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Areas that will be assessed are: STRUCTURE:
Introduction 5 marks Conclusion 5 marks Headings 5 marks
LANGUAGE and COMMUNICATION: (capped at) Coherence 2 marks
Style 2 marks
Grammar and vocabulary 2 marks
15 marks
5 marks
RESEARCH and REFERENCING: 20 marks
?
Quality of sources (only independent research): (capped at) 10 marks
? 1 mark each for relevant reliable (reputable news agencies, broadsheets) sources used;
? 2 marks each for relevant academic sources (governmental data bases, academic journal article, book or textbook) used.
Referencing (Harvard System): (capped at) 10 marks ? Reference List:
? 1 mark for any source used (including provided) if referenced accurately (0 marks for the source which has been included in the Reference List but has not also been cited in the text)
? Citations:
? 1 mark for any source used (including provided) if cited accurately (0 marks for the source which has been cited but has not also been included in the Reference List)
?
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DISCUSSION: (capped at) 60 marks
? Your essay should have a coherent, consistent and logical structure.
? Discussion in the essays which are written in bullet points and/or which are just diagrams without verbal contextualisation will be capped at 20. As in this case the essay will not be structured appropriately, you will also lose the marks for structure.
? There are three sections you are expected to discuss. Failure to attempt discussion of any of the sections will lead to the mark cap for the discussion as follows:
o One section not attempted marks for the discussion are capped at 40 o Two sections not attempted marks for the discussion are capped at 20 o None of the sections attempted no marks for the discussion are awarded
? In Section 2 you are expected to compare and contrast two types of impacts (micro- and macroeconomic each) Failure to attempt discussion of one of the impacts will lead to the mark cap for the section as follows:
o One type of impact not attempted marks for the section are capped at 10 o Two types of impact not attempted no marks are awarded for the section
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Knowledge:
– definitions and stating of economics concepts without contextualisation according to the task): (capped at) 10
marks
Higher end skills: (capped at) 60 marks
? Application = contextualisation of economics theories, concepts and diagrams according to the issue you are discussing
? Analysis = explanation (not description) of the shifts or changes on diagrams, or of how the situation/outcome changes with the change of variables or in the short- and long-run, etc.). It often answers the question Why?
? Evaluation is often based on comparison and contrast (of outcomes, short- and long-run, solutions and their efficiency, effects and their severity, etc. or answers the question Why is it important?
3.5. Good practice: how to avoid plagiarism
Producing work with the aim of honesty and respect for academic knowledge
Quoting
Never copy anything (including the work of other students) without explicit acknowledgement. Quotation directly from a book or paper is entirely acceptable provided that it is referenced correctly.
This means that:
All quotations must be clearly identified either by enclosure in quotation marks (inverted commas) or by paragraph indentation.
Sources must be identified using one of the prescribed formats.
Sources used must be listed in a bibliography or reference section at the end of each piece of work.
The quoted section should not be too long. For short pieces of work (under 5000 words) it is better to quote a short phrase or a sentence to illustrate your point. It is also a good idea to comment on/interpret the quotation to show you understanding the authors meaning.
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Paraphrasing
Paraphrasing means putting someone elses ideas into your own words. Paraphrasing is entirely acceptable provided that it is referenced. It does NOT mean copying whole sentences or phrases and replacing some words with others of similar meaning. A general rule for acceptable paraphrasing is that an acknowledgement be made in every paragraph. There are many ways in which such acknowledgements can be made (e.g. Smith goes on to argue that… or Smith provides further proof that…). As with quotation, full details of the source used must be given at the end of the text.
Plagiarism can occur through laziness or poor note-taking. It is not enough to just cite an article once and then continue to use it throughout the rest of your work without proper references. If you do not make a correct citation every time you refer to or quote someone else then you are plagiarising. It is also unacceptable to just list material you have read at the end of your work and not in the body of the text itself you must provide full referencing (in-text referencing) within your work.
Note: any student who is unclear about the rules regarding the use and referencing of other peoples work or ideas should seek advice from their Tutor or Plagiarism Officer.
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