EC101-4-AU-CO:
Business Economics

The details
2023/24
Economics
Colchester Campus
Autumn
Undergraduate: Level 4
Current
Thursday 05 October 2023
Friday 15 December 2023
15
24 October 2023

 

Requisites for this module
(none)
(none)
(none)
EC111

 

EC209

Key module for

BSC N400 Accounting,
BSC N401 Accounting (Including Foundation Year),
BSC N402 Accounting (Including Year Abroad),
BSC N404 Accounting (Including Placement Year),
BSC NN24 Accounting and Management,
BSC NN27 Accounting and Management (Including Placement Year),
BSC NN42 Accounting and Management (Including Foundation Year),
BSC NNK2 Accounting and Management (Including Year Abroad)

Module description

The Business Economics module provides an introductory overview of modern economics, including examples in microeconomics that have a bearing on the world of business, i.e., the organisation of firms, the economic implications of their objectives, and the markets in which they operate, and examples in macroeconomics, i.e. the global environment where firms operate.

Module aims

The aims of this module are:



  • To provide a broad overview of economics for business.

  • To give students a basic understanding of the key ideas in economics, both in micro and in macroeconomics, and to apply these to explain contemporary issues in the news, in the business world and policymaking.

Module learning outcomes

By the end of this module, students will be expected to be able to:



  1. Demonstrate an awareness of the concepts and principles central to the discipline of economics.

  2. Apply economic principles to analyse elementary economic problems and to comment on their implications.

  3. Discuss the predictions of elementary theories of the firm in a variety of market contexts (including perfect competition, monopoly and oligopoly).

  4. Assess the implications of government economic policies in the context of the theories covered in the module.


Skills for your Professional Life (Transferable Skills)


The module contributes towards the key skills of:



  1. Problem solving.

  2. Numeracy.

  3. Communication.

  4. Working with others.

  5. Time management.

  6. General business skills.

Module information

Syllabus



  • Topic 1: Introduction to Economics

  • Topic 2: Competitive markets

  • Topic 3 Production and Costs

  • Topic 4: Perfect Competition

  • Topic 5: Imperfect Competition

  • Topic 6: Market Failures

  • Topic 7: Introduction to Macroeconomics and National Accounting

  • Topic 8: Aggregate demand and Aggregate Supply

  • Topic 9: Fiscal and Monetary Policy

  • Topic 10: Economic Growth

Learning and teaching methods

The module will be delivered via:

  • One 2-hour lecture per week.
  • One 1-hour class per week.
  • 2 revision sessions before Exam period.

Bibliography

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 Coursework weighting
Coursework   Test 01 on MOODLE - Tuesday 21st November 2023, 11am-12pm    50% 
Coursework   Test 02 on MOODLE - Tuesday 12th December 2023, 11am-12pm    50% 
Exam  Main exam: In-Person, Open Book, 120 minutes during Summer (Main Period) 
Exam  Reassessment Main exam: In-Person, Open Book, 120 minutes during September (Reassessment Period) 

Exam format definitions

  • Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
  • In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
  • In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
  • In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary, for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.

Your department will provide further guidance before your exams.

Overall assessment

Coursework Exam
50% 50%

Reassessment

Coursework Exam
0% 100%
Module supervisor and teaching staff
Dr Xiaoyu Xia, email: xiaoyu.xia@essex.ac.uk.
Lecturer: Dr Xiaoyu Xia / Classes: various teachers
For further information, please send an email message to ueco@essex.ac.uk

 

Availability
No
No
No

External examiner

No external examiner information available for this module.
Resources
Available via Moodle
Of 40 hours, 38 (95%) hours available to students:
0 hours not recorded due to service coverage or fault;
2 hours not recorded due to opt-out by lecturer(s), module, or event type.

 

Further information
Economics

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