Business Economics with a Year in Industry BA (Hons)

The first year aims to introduce students to the subjects that provide the foundation for an economic study of business. Students must take five compulsory modules, including ULMS170, a careers-oriented module which will prepare them for their business placement. The remaining three modules are selected from the business-related pathways that the student has elected to follow (Accounting and Finance or International Business)

• Mathematics for Economics and Business (ECON111) Level 1 Credit level 15 Semester First Semester Exam:Coursework weighting 75:25 Aims

  This module introduces students to the application of mathematics to economics, management and accounting. The material will show how mathematical methods can be applied to problems in market analysis, compound interest, investment appraisal and agent optimisation (eg consumer utility maximisation and firm profit maximisation). The module design takes account of students'' differing mathematical backgrounds in conjunction with the need to prepare all students for second and third year courses.

  Learning Outcomes have a good grasp of basic mathematical techniques in the study of supply and demand curves;

  ​ be familiar with the basic techniques of calculus and their applications to economics: the analysis of profit, revenue etc;

  ​ have a working knowledge of the basic mathematics of finances

  • Statistics for Economics and Business (ECON112) Level 1 Credit level 15 Semester Second Semester Exam:Coursework weighting 80:20 Aims

  • The fundamental aim of this module is to give students an understanding of how statistics operates in Business and Economics;

  • ​To provide both a foundation for further study and a broadly based introduction to statistics;

  • To enable students to summarize, present and analyze data from a sample;

  • ​To enable students to understand and apply the practice of statistical inference to sample data to estimate full population variable parameters;

  • To enable students to ​work comfortably with variables as probability distributions, introducing some common and practicably useful probability distributions.

  Learning Outcomes Thebasis of data analysis
  

  ​ Thefundamental notion of statistical inference

  ​ Summarise,describe and present raw data

  ​ Estimatethe mean of a population (and other statistics)

  ​ Howto formulate and test hypotheses about values in the population based on randomsamples

  Howto carry out basic statistical computations and graphical analysis

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  Howto identify and model relationships between two variables

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  Understandthe use of probability in statistics

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  Communicatingresults

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  • Principles of Microeconomics (ECON121) Level 1 Credit level 15 Semester First Semester Exam:Coursework weighting 80:20 Aims

    To acquaint students with elementary microeconomic theory. We will cover: basic definitions and concepts in (micro)economics, consumer theory, producer theory, perfect competition, imperfect competition, externalities and public goods.

    The mathematics content will include some basic algebra, equations of the straight line, elementary calculus.

    Learning Outcomes

    After this module students should have achieved a theoretical background in the elementary concepts of microeconomic theory   

    
    

    ​  Students should have learned how to apply these concepts.

  • Principles of Macroeconomics (ECON123) Level 1 Credit level 15 Semester Second Semester Exam:Coursework weighting 40:60 Aims

    The aims of this module are:

    • To complement and build on Principles of Microeconomics and to provide a foundation for further studies in macroeconomics
    • To introduce concepts and theories of economics which help understand changes in the macroeconomic environment
    • to explain and analyse the formulation of government macroeconomic policy
    Learning Outcomes

    ·         Explainthe relationship between expenditures and national income and demonstrate howmonetary and fiscal policies may be used to influence them
    

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    ·         Explainthe behaviour of economic aggregates such as national income, inflation andunemployment over time

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    ·         Explainand assess government policy in a range of policy situations

    ·         Explainthe framework of national income accounting

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    ·         Usegraphical and algebraic modelling to analyse the economy and economic policy

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    ·         Explainthe interconnections between the markets for goods, money and labour

    ·         Explainthe principal influences on long-term growth and the short-run fluctuation inoutput around the long-run growth trend

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    ·         Locate,select and analyse information relevant to assessing the state of the economyand economic policy

  • Placement Preparation Module (ULMS170) Level 1 Credit level 15 Semester Second Semester Exam:Coursework weighting 0:100 Aims

    This module aims to prepare students for a year in industry by providing them with the skills required to secure a work placement and to gain the most from their placement experience.

    Learning Outcomes Critically reflect on and evaluate their skills in relation to prospective employers’ requirements and identify their development needs;

    ​ Research career opportunities relevant to their degree specialism in relation to their own career aspirations using a range of media and approaches;

    ​ Analyse a given work environment (organisation/sector in an economics context) using a range of theoretical perspectives;

    ​ Demonstrate effective oral and written communication skills appropriate to a role within an economics and business context;

    ​ Produce timely and effective applications

    Optional modules
    • Introduction To Financial Accounting (ACFI101) Level 1 Credit level 15 Semester First Semester Exam:Coursework weighting 70:30 Aims

      To develop knowledge and understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of double entry accounting techniques in recording transactions, adjusting financial records and preparing basic financial statements. 

      Learning Outcomes

         Prepare basic financial statements
      

      ​ Explain the context and purpose of financial reporting

      Demonstrate the use of double entry and accounting systems ​

      ​ Record transactions and events

      ​ Prepare a trial balance

    • Introduction To Management Accounting (ACFI102) Level 1 Credit level 15 Semester Second Semester Exam:Coursework weighting 100:0 Aims

      The aim of this module is to introduce students to the nature and purpose of management accounting and to establish a sound foundation in its fundamental techniques.

      Learning Outcomes

      ​ Understand, interpret and analyse management accounting information, and demonstrate an awareness of the importance of non-financial factors;

      ​ Evaluate the usefulness of various techniques in different situations and for different purposes.

    • Introduction To Finance (ACFI103) Level 1 Credit level 15 Semester Second Semester Exam:Coursework weighting 100:0 Aims

    • to introduce the students to finance.

    • to provide a firm foundation for the students to build on later on in the second and third years of their programmes, by covering basic logical and rational analytical tools that underpin financial decisions

       

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    Learning Outcomes

    Understand the goals and governance of the firm, how financial markets work and appreciate the importance of finance.

    
    

    ​ Understand the time value of money

    ​ Understandthe determinants of bond yields

    ​ Recognizehow stock prices depend on future dividends and value stock prices

    ​ Understandnet present value rule and other criteria used to make investment decisions

    ​ Understand risk, return and the opportunity cost of capital

    ​ Understandthe risk-return tradeoff, and know the various ways in which capital can beraised and determine a firm''s overall cost of capital

    ​ Knowdifferent types of options, and understand how options are priced

    • International Business Environment (MKIB152) Level 1 Credit level 15 Semester Second Semester Exam:Coursework weighting 0:100 Aims

      This moduleprovides an introduction to the international business environment.
      

      
      

      Thecourse will cover issues including the role and behaviour of multinationalenterprises in the global economy, the business models used by firmsinternationalizing and the changing institutional and regulatory frameworksinfluencing international trade. Discussion will also be made of thedistinction between internationalization and...