BE201-4-FY-CO:
Business Economics

The details
2019/20
Essex Business School
Colchester Campus
Full Year
Undergraduate: Level 4
Current
Thursday 03 October 2019
Friday 26 June 2020
30
16 September 2019

 

Requisites for this module
(none)
(none)
(none)
(none)

 

(none)

Key module for

BBA N100 Business Administration,
BBA N103 Business Administration (Including Placement Year),
BBA N104 Business Administration (Including Foundation Year),
BBA N104CO Business Administration (Including Foundation Year),
BBA N110 Business Administration (Including Year Abroad),
BSC N120 International Business and Entrepreneurship,
BSC N121 International Business and Entrepreneurship (Including Year Abroad),
BSC N123 International Business and Entrepreneurship (Including Placement Year),
BSC N124 International Business and Entrepreneurship (Including Foundation Year),
BSC N124CO International Business and Entrepreneurship (Including Foundation Year),
BSC N501 Marketing,
BSC N502 Marketing (Including Year Abroad),
BSC N504 Marketing (Including Placement Year),
BSC N505 Marketing (Including Foundation Year),
BSC N505CO Marketing (Including Foundation Year),
BSC N832 Tourism Management,
BSC N833 Tourism Management (Including Year Abroad),
BSC N834 Tourism Management (Including Placement Year),
BSC N835 Tourism Management (Including Foundation Year),
BSC N835CO Tourism Management (Including Foundation Year)

Module description

This module will be used to help students raise and explore key issues in business economics using a selection of real life examples, case studies and exercises in conjunction with key readings from the core textbook and other recommended readings.

In putting together the course, we assume no prior knowledge of economics. We also recognise that participants in the course have many different interests in economics, and reasons for studying Business Economics. We hope that you are curious about economics, and interested in some economic issues.

Maybe you have come across microeconomics in the news through inquiries into take-overs and mergers between companies, or in price wars between supermarkets, or the public interest in the price of mobile phones, or in worries over pollution, or the effects of new minimum wage scheme. In any event studying economics can inform you of highly topical issues.

In the autumn term, we aim to introduce microeconomic principles and concepts that help us understand and explain how economic activities happen, and see if anything can be done to improve economic situations for society.

We also aim to explain business economics in such a way that it fits in well with your other subjects.

Module aims

The main aim of this module is to provide students with a broad understanding of the use of internal resources by firms for effective business operation, the different environmental influences faced by businesses, and how these environmental influences affect key business decision-making processes and outcomes.

We aim to introduce you to concepts and microeconomic principles of business economics that are useful in providing general explanations of how markets work in coordinating the plans of people undertaking economic activities, primarily business operations. We will also draw upon these principles to investigate reasons why coordination in markets can fail, and introduce ideas about what can be done through governments and other regulatory bodies to undertake coordination through other means.

The principles and concepts that we introduce will be of a general nature, by which we mean that they are applicable to a large number of cases. We will discuss ideas about how consumers behave in typical situations, or how firms behave in typical situations. We will present concepts and principles mainly through discussion, supplemented by diagrams, and in a few cases through basic mathematical expressions.


Module learning outcomes

Through participating in the course we intend that you acquire three types of knowledge: (1) of microeconomics principles and concepts; (2) of analytical skills and techniques that are specific to business economics; and (3) of transferable skills that will help you develop as effective learners as you progress through your studies, with an eye to life outside higher education. We have designed the course’s assessment to reflect, either directly or indirectly, these learning outcomes.

Module information

The lectures will be developed around the key concepts as mentioned in the indicative module content and will use a range of live examples and cases from business practice to demonstrate the application of theoretical concepts. The lectures will follow a weekly format of 1 hour per week for 10 weeks in two terms.

Seminars in the form of class exercises will be built into the lectures to develop critical analytical and problem solving skills. Seminars will use a range of activities, such as discussion of case studies from the core text, topical business news items and will involve students working in pairs or groups or individually to discuss, reflect on problems and answer questions, present their ideas and thoughts to the class for discussion. Seminars will take place on a weekly basis and will also follow a weekly format of 1 hour per week for 10 weeks in two terms. Students will be assigned to two different groups.

Learning and teaching methods

The following learning and teaching methods will inform the pedagogic structure of the course: - Lectures - Seminars - Discussion of case studies - Discussion of journal articles - Class exercises - Group work

Bibliography

  • Griffiths, Alan,; Wall, Stuart. (no date) Economics for business and management.
  • Krugman, Paul R. (no date) Economics.
  • Griffiths, Alan; Wall, Stuart; dawsonera. (2011) Economics for business and management, Harlow: Financial Times Prentice Hall.

The above list is indicative of the essential reading for the course. The library makes provision for all reading list items, with digital provision where possible, and these resources are shared between students. Further reading can be obtained from this module's reading list.

Assessment items, weightings and deadlines

Coursework / exam Description Deadline Weighting
Coursework Class Test (Week 10) 37.50%
Coursework Individual Essay 09/03/2020 62.5%
Exam 180 minutes during Summer (Main Period) (Main)

Overall assessment

Coursework Exam
40% 60%

Reassessment

Coursework Exam
40% 60%
Module supervisor and teaching staff
Vania Sena
vsena@essex.ac.uk

 

Availability
No
No
No

External examiner

No external examiner information available for this module.
Resources
Available via Moodle
Of 57 hours, 0 (0%) hours available to students:
57 hours not recorded due to service coverage or fault;
0 hours not recorded due to opt-out by lecturer(s).

 

Further information
Essex Business School

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