Business Economics - BA (Hons)

The module will teach students about the process of recording, presenting and interpreting financial information. It will also develop their IT skills by teaching how to set up spreadsheets and use the internet to research into limited companies. The module then develops an introductory framework for the understanding and analysis of key financial markets and institutions in mature economies.

The focus of this module is business. What is it? What drives it? What makes it successful? Are there ideal environments in which businesses start, grow and mature? Are there ideal types of businesses?
The turbulent and disruptive upheavals of the twenty-first century, including natural disasters, corporate failures, financial crisis, recession and austerity have prompted a review of the traditional view of business and enterprise as encompassing large organisations in a steady state of long-term planning. Today the dynamic of how business is conducted is changing. Recent research (DfBIS, 2011) has shown that 50% of private sector turnover is generated by small to medium-sized enterprises (SMEs). In addition, the DfBIS, (2011) suggests that, “60% of private sector jobs (almost 14 million) are provided by SMEs”.

This module introduces and develops the principles of micro- and macroeconomics providing a secure foundation for students pursuing specialist degrees in Economics and Business Economics. The microeconomics element of the module will examine supply and demand analysis, theories of consumer behaviour and theories of the firm. It will also introduce the distribution of income, market efficiency, market failure, and international trade.

This module is concerned with providing students with quantitative skills and a foundation in mathematical and statistical concepts and techniques so they can solve economic problems and understand economic analysis. Students will understand how mathematical and statistical methods relate to economic theory.

This module aims to introduce students to the dynamics of international business operations and the evolving world markets. International economic issues influence the formulation of trade and investment policies as well as entreprise strategies, and this module gives students the opportunity to understand and discuss the challenges therein for multinational businesses. In recent years, we have seen dramatic economic changes such as new theoretical developments, empirical studies and the growing role played by emerging economies. The aim of this module is therefore to give students a strong understanding of key theories and policies which will be analysed in the light of current international debates.

This module focuses on the theory and application of the Classical Linear Regression Model, the violation of its assumptions and its extensions. The module provides students with the knowledge and skills to design, undertake, and evaluate empirical work within economics, finance and business.

This module develops from the foundations of macroeconomics covered in EC4006. The module aims to develop student’s knowledge and understanding of key macroeconomic processes that determine equilibrium in the short-run, medium-run and the long-run. It examines the goods and financial markets as foundation for understanding the IS/LM model in a closed and open economy. These core topics provide the student with the basic understanding of what determines equilibrium in the short-run. This is developed further by introducing the analysis of the labour market, which is the key to an understanding of the AD/AS model and equilibrium in the medium-run. The analysis of the IS/LM model and AD/AS will also be applied to the open economy. The module proceeds to develop core principles for understanding what determines equilibrium in the long-run. Finally, we consider extensions to the above framework by covering topics such as the Phillips Curve, the role of expectations, exchange rates, government debt, hyperinflation and recent global events.

This module provides a basic grounding in intermediate microeconomics. It covers the constituents of markets, namely supply (producer theory) and demand (consumer theory), and considers examples of externalities and market failure. Strategic behaviour and the role of uncertainty are emphasised. The module also discusses departures from the theoretical predictions of how rational consumers behave (behavioural economics) and also why those departures may take place (experimental economics and performativity).

This module develops a framework for analysing important themes and events in the international economy such as globalisation, economic growth, economic crises, commodity markets and price volatility. Subsequently, students will get the opportunity to carry out further research on a chosen topic, undertake qualitative and/or quantitative analysis and write up a final research report. In order to undertake their research reports, students will need to hone specific skills such as econometric and statistical techniques, the ability to prepare business reports, develop case-studies and be able to understand research methodology and apply relevant analytical skills.

This module develops student’s knowledge and understanding of work, labour markets, employment, and reward. It examines broad human resource and labour market issues such as differential pay rates, labour migration, unemployment and discrimination, as well as economic issues specific to individual organisations such as worker recruitment, training, motivation, retention, payment systems and performance bonuses.

This module aims to provide and in-depth knowledge and understanding of the economic laws and mechanisms that define and rule the economic environment of industries. The focus is mainly put on imperfectly competitive industries and the rationale of regulation and means of action of governments are investigated.

The module explores the role of corporate governance and social responsibility concepts, principles and practices in dealing with the competing interests of various stakeholders in modern corporate entities and financial institutions.
Emphasis is placed on how corporate governance can assist in ensuring accountability to the owners and other stakeholders in the firm. The rationale and motivation for corporate entities and financial institutions to deal with social and environmental issues is explored in detail.

Why do some companies succeed while others fail? Are some business ideas fundamentally better than others? How can you tell which ideas are worth investing time and money in and which are not? How can you find an idea to pursue that matches your skills, network and passion?

In the 21st century organisational managers and leaders are constantly asked to work both harder and smarter and to ensure that those who work for them do the same. Stock markets dictate that businesses operate in very short time frames. E-commerce is changing how businesses connect to each other, value, both customer and shareholder, dominates corporate decisions and there is increased emphasis on sustainability, governance and the environment. At the same time lifestyle changes have increased the demand for flexibility, choice and lifelong learning opportunities at work.

This module develops student’s knowledge and understanding of the main theories and policies of economic development. It examines; different perspectives on the meaning and definition of economic development, ethical issues involved, the role of the state and policies including trade and industrial policies, relationship between labour migration and economic development, the role of the international organizations in the formulation of development policy, and the relationship between economic growth and the environment. The module also provides a comparative analysis of economic performance among a selected number of developed and developing countries.

This module is concerned with the application of economic concepts and theories to our understanding of the multinational business. Using economic theories, the module will explain the existence and development of the multinational business and examine some of the strategies used by multinational business to enter foreign markets. Other important issues in the operations of multinational businesses such as cultural diversity and human resource management will also be considered. The overall aim of the Module is to provide students with the theoretical knowledge and business strategies for analyzing the multinational business. As part of the teaching strategies, case studies will be used.

This module introduces students to the fundamental aspects of international trade theories, commercial policies, open economy macroeconomics, and the international monetary system. The module will examine both theoretical and contemporary policy issues in the international economy.

This module enables students to undertake a short period of professional activity and to gain credit for their achievements. The activity can be employment activity, a work placement, professional training, volunteering activity in the not-for-profit sector, or where available, within a Virtual Business Environment within the University.

The module is designed to develop student employability and increase graduate career prospects. The ‘sandwich placement’ year requires learners to undertake a minimum of 44 weeks full-time work in employment which is developmental and relates to their graduate career goals. Compulsory pre-placement preparation workshops will provide structured learning and support to assist students in their search for an appropriate placement in an industry relevant to their area of study; develop professionalism and the ability to transfer learning from the classroom and previous employment to the placement workplace. During the placement term, students will be supported in applying theoretical knowledge in a practical context, analysing business problems and proposing solutions, and identifying and articulating transferable skills and knowledge developed during the placement. Students will be expected to demonstrate improved understanding of their abilities and career goals, knowledge of the workplace organisation and professional awareness through reflective and reflexive learning.

This module examines public economics. It covers the theoretical aspects of public economics, namely market failure, theories of public goods, externalities, asymmetric information, social choice, inequality, commodity and income taxation. It discusses applications of these concepts by covering selected topics in economics of health, energy, insurance and communication. Further, it covers some recent developments in public and welfare economics: economics of giving, altruism and reciprocity, economics of happiness, and social economics.