Economic Foundations and Effective Management

The details
Essex Pathways
Colchester Campus
Full Year
Foundation/Year Zero: Level 3
Thursday 03 October 2024
Friday 27 June 2025
10 May 2024


Requisites for this module



Key module for

BSC N401 Accounting (Including Foundation Year),
BSC NN43 Accounting and Finance (Including Foundation Year),
BSC NN42 Accounting and Management (Including Foundation Year),
BSC N391 Banking and Finance (Including Foundation Year),
BBA N104 Business Administration (Including Foundation Year),
BBA N104CO Business Administration (Including Foundation Year),
BSC N201 Business Management (Including Foundation Year),
BA L102 Economics (Including Foundation Year),
BSC L103 Economics (Including Foundation Year),
BSC LL14 Economics and Politics (Including Foundation Year),
BSC N301 Finance (Including Foundation Year),
BA L118 Financial Economics (Including Foundation Year),
BSC L117 Financial Economics (Including Foundation Year),
BSC N124 International Business and Entrepreneurship (Including Foundation Year),
BSC N124CO International Business and Entrepreneurship (Including Foundation Year),
BSC N2N5 Management and Marketing (Including Foundation Year),
BA L190 Management Economics (Including Foundation Year),
BSC L191 Management Economics (Including Foundation Year),
BSC N505 Marketing (Including Foundation Year),
BSC N505CO Marketing (Including Foundation Year),
BA LX14 Financial Economics and Accounting (Including Foundation Year),
BSC LG04 Economics with Data Science (Including Foundation Year),
BSC N347 Finance and Management (Including Foundation Year),
BA LX10 Business Economics (Including Foundation Year),
BSC N358 International Business and Finance (Including Foundation Year),
BSC N358CO International Business and Finance (Including Foundation Year),
BA R113 Economics with Language Studies (Including Foundation Year),
BSC N114 Business Administration and Supply Chain Management (Including Foundation Year),
BSC N114CO Business Administration and Supply Chain Management (Including Foundation Year),
BSC N263 Business and Human Resource Management (Including Foundation Year),
BSC N133 Business and Analytics (including Foundation Year),
BSC N133CO Business and Analytics (including Foundation Year)

Module description

This module begins with the realm of management, exploring decision-making at individual, firm, and market levels. It covers essential management topics including models of management, corporate responsibility, communication, and innovation. Subsequently, the module transitions into examining economics perspectives on the role of market in determining prices and resource allocation, offering diverse viewpoints on decision-making to address economic challenges. It then extends into interactions between sectors such as household, firm, financial institution, government and foreign trade.

There is no assumption of prior knowledge of management or economics. It aims to equip students with a holistic understanding of economic and managerial dynamics. Real-life events, case studies and examples, combined with theories and concepts in management and economics, will be explored to foster deeper understanding.

Module aims

The aims of this module are:

  • To provide grounding in a wide range of management theories and practice.

  • To introduce students to economic principles, theories, and concepts, and the main conclusions derived from economic analysis.

  • To offer students the opportunity to develop the transferable employability skills of critical analysis, problem solving and effective and appropriate communication through application of theory to practice, in-class discussion of case studies and actual contemporary issues.

Module learning outcomes

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

  1. To relate principles and concepts to underlying theoretical framework and approaches in management.

  2. To analyse and interpret material from case studies relating to management.

  3. To recognise and discuss economic principles, theories and concepts, and be able to apply them to real-life events and examples.

  4. To solve economic questions mathematically and be able to interpret the results, as well as be able to use relevant economic diagrams as an analysis tool.

Skills for your professional life (Transferable Skills)

By the end of this module, following transferable skills can be achieved:

  1. To develop your analytical and critical thinking skills by applying management and economics concepts to explain and evaluate real world situations.

  2. To enhance teamwork skills by working in small groups during seminars.

  3. To develop critical thinking skills by debating and discussing contemporary problems in management during seminars.

  4. To develop your personal plan of setting targets, time management, and motivation to undertake coursework assignments and homework.

  5. To enhance your literacy and numeracy skills, particularly for the interpretation of mathematical solutions within an economic context.

  6. To develop your IT skills through navigating module content, engaging in activities, and completing assessments on Moodle learning platform.

Skills for Education for Sustainable Development

The following sustainability elements and topics will be covered in this module:

  • Corporate social responsibility

  • International cultures and cultural diversity

  • Food production and rising population via supply and demand analysis.

  • Fishing quota to preserve fish stock.

  • Sustainable economic growth and sustainable energy resources.

Fiscal policy, particularly, the role of taxation and subsidy in incentivising sustainable behaviours.

Module information

Indicative syllabus

Management Topics

  • Models of Management

  • The Management Environment

  • International Management

  • Corporate Responsibility

  • Communication

  • Leadership and Motivation Entrepreneurship, Creativity, Innovation 

Economics Topics

  • Demand and Supply

  • Price Control and Quota

  • Taxes

  • Market Structure and Strategies

  • Production, Cost and Profits

  • GDP and sustained Long-run Economic Growth

  • Unemployment and Inflation

  • Aggregate Demand and Aggregate Supply

  • Fiscal Policy and Monetary Policies

  • International Economics

  • Application to Global Events

Learning and teaching methods

This module will be delivered via:

  • Twenty-two 2-hour lectures
  • Twenty-two 2-hour seminars

The lecture will explain the topics covered in the syllabus and will identify the key concepts and points for discussion. The seminar aims to promote interaction among students and familiarise them with relevant terminology. It also aims to provide the opportunity for students to work in pairs or as a group to discuss subject problems and apply appropriate theories and concepts to real-life examples or case studies.

Learning support

Summarised lecture material is provided using PowerPoint presentations, which are on Moodle, together with a variety of reading materials and learning resources. ’Listen Again’ is also available. Formative tests and resulting feedback will enable students to develop their knowledge and skills.

Module Leaders can also be contacted by e-mail or during academic support hours, which are published on the Moodle site.



Assessment items, weightings and deadlines

Coursework / exam Description Deadline Coursework weighting
Coursework   IA130 - In-person, Open Book (restricted) Management Test    35% 
Coursework   IA130 - In-person, Open Book (restricted) Microeconomics Test     25% 
Coursework   IA130 - In-person, Open Book (restricted) Macroeconomics Test     40% 

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
100% 0%


Coursework Exam
100% 0%
Module supervisor and teaching staff
Dr Anyarath Kitwiwattanachai, email: akitwi@essex.ac.uk.
Mrs Maja Pulic, email: maja.pulic@essex.ac.uk.



External examiner

No external examiner information available for this module.
Available via Moodle
No lecture recording information available for this module.


Further information
Essex Pathways

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