who should be responsible for the failure of Northern Rock Bank?
you must focus the topic tightly and you must analyse it using at least one theoretical perspective from the module. By this I mean at least one aspect of market failure and or behavioural bias. You must cite and reference any theory you refer to, using appropriate articles, journals and text books. A good essay will use more than one element of theory. You must also look for appropriate evidence to back your analysis. This might include using evidence on the size or timing of an issue, looking for evidence on how it compares to another related issue or institution or sector.
Descriptive topics will fail. For example if you choose to describe what happened to Northern Rock in the 2007/8 financial crisis you will fail. What you must do is ask a question about who should be responsible for the failure of Northern Rock Bank? These questions require you to consider the failure from a theoretical perspective and to use the theory to develop a viewpoint. They are not mere descriptive.
and the suggested structure for the Essay is as following.
1. Short introduction, say what your aim is, why and how you will achieve it within the essay. (200 words). Say what theory you are going to use and it is market failure and theory and behaviour biases. You should say which bit if market theory you going to use all of it or part of it. Is it going to be monopoly or Eternality or symmetric information or moral hazed secondly opportunism, adverse selection. and you should state what sort of evidence you will use such as from recent report or from recent buyer. You also may want to use diagram or chart you going to use .
2. A discussion of the main issue/focus/history or background to the organisation/sector/issue. You will be presenting some background evidence here that will be drawn from a variety of sources many of which will be electronic and/or web pages. You must cite every in the essay all your sources as you use them. Avoid direct quotes, it is bad style. Take the ideas and evidence from your sources, write it up in your own words and cite the sources after each relevant sentence. Use the Harvard style. If you are unsure how to deal with web cites, then go to the library and get their Harvard referencing style guide. You must have your ideas from references (about 325 words)
3. A development of the relevant concepts and theory that you are using to examine the issue. You might want to discuss differences of opinion or views, and/or apply the theory and concepts to what actually happened. You need to explain why the theory and/or concepts are of value in achieving your aim. You might be using them to examine causes and effects, evaluate outcomes, or judge responsibility for outcomes for example. In this section you are more likely to have sources from text books, financial journals, specialist magazines such as the economist, etc. This must all be cited and referenced using the Harvard style. (750 words for point 3&4 together). * An important point and it is that do not go over board here in explaining the market failure theory. A paragraph will be enough to introduce it. But you may want to discuss if there is a debate here. For example you need to refer to an element of regulations here. Because if we you talking about financial markets, most of financial market are regulated, so if something going on the question will be has been appropriately regulated and what is the level of regulation, and why should regulation work, there is a theory of regulation. Nonetheless you must discuss the market failure theory and moral hazed. You may find a debate between two writers that you can discuss and try to tease out, as this is what called critical analysis. * you may want to judge who is responsible for the issue and in which case here you may want to identify who are the people we need to look at? Who are the stakeholders, if you looking at a particular organisation activity you may want to say who are the financial institution in this sector, who is the regulatory body and what is their role. Do not forget to source the information, and it must be academic sources such as journal from EBSCO, Emerald etc., financial books, news, and articles, (Association of European financial market is really useful) web etc . And there will be a file attached with many appropriate sources that is crucial for this essay. * Most of the sources must be from Journals and special sources.