Business Economics
| Code | School | Level | Credits | Semesters |
| BUSI1100 | Business | 1 | 20 | Full Year UK |
- Code
- BUSI1100
- School
- Business
- Level
- 1
- Credits
- 20
- Semesters
- Full Year UK
Summary
This module introduces students to the microeconomic theory of the market, firm and consumer and to the nature and scope of the macroeconomic policy agenda, developing the analytical frameworks necessary for the evaluation of policy instruments. The module enables participants to understand the economic arguments that underlie different views and to evaluate relevant arguments.
Target Students
Available to Business School Qualifying Year students on the BSc Hons Management variants.
Classes
- One 1-hour seminar each week for 4 weeks
- One 2-hour lecture each week for 20 weeks
Assessment
- 50% Coursework: 2,000 words (Autumn semester). Reassessment: 2h invigilated exam.
- 50% Exam (1-hour): In person exam (Spring semester). Reassessment: 2h invigilated exam.
Assessed in both autumn & spring semest
Educational Aims
The module aims to introduce participants to key economic tools, concepts, and their application and to provide participants with an understanding of the nature and scope of economic policy and the economic theories upon which it is based. The emphasis is on policy. In particular, this module aims to offer a rigorous understanding of basic economic principles by combining theory and application to contemporary issues.Learning Outcomes
Knowledge and Understanding
This module develops a knowledge and understanding of:
• The development, access and operation of markets for resources, goods and services.
• A coherent core of economic principles, including the microeconomics of decision and choice, production and exchange and the macroeconomics of employment, national income, the balance of payments, exchange rates, inflation, growth and money
• Economic policy with an understanding of analytical methods and model-based argument and of different methodological approaches and their strengths and limitations.
• Ability to apply core economic theory and economic reasoning to applied topics.
Intellectual Skills
This module develops:
• Conceptual and critical thinking, analysis, synthesis and evaluation.
Professional Practice Skills
This module develops:
• The ability to apply business models to business problems and phenomena.
• The ability to understand the operation of the macroeconomy.
Transferable (Key) Skills
This module develops:
• Communication and listening including the ability to produce clear, structured business communications in a variety of media.
• Self-management and a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time
• Articulating and effectively explaining information.