Programme And Module Handbook
 
Course Details in 2022/23 Session


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Module Title Economics and Economic Policy for Business
SchoolEducational Enterprise
Department Wiley
Module Code 07 28458
Module Lead Prof. Stanley Siebert
Level Masters Level
Credits 10
Semester Semester 1
Pre-requisites
Co-requisites
Restrictions Master of Business Administration (Distance Learning) Wiley programme
Exclusions
Description This module will give students an understanding of the economic and the wider political and social context in which business operates. In so doing the module will look at the foundations of contemporary macro and micro economics. The module will develop in students an understanding of the factors which underpin economic analysis, and how economic contexts can vary and evolve over time. The module will also look at the linkages between economic analysis and government policy. A key focus will be the internal economics of the firm, the environment in which firms operate and in turn how these factors can, and should be used to inform management decisions. The module will introduce fundamental concepts and analytical approaches used in economics, and will show how these concepts are applied in business decision making.
Learning Outcomes By the end of the module students should be able to:
  • Analyse the core concepts and methods of economics.
  • Critically appraise the constraints imposed by economic, social and political contexts on the internal decision making of the firm, and in turn how these factors constrain business strategy and decision-making.
  • Demonstrate a critical understanding of how economic and political constraints impact on nations, organisations and the managers within them.
  • Identify and evaluate the general impact on business of public policy.
  • Define and explain the nature of, and critically appraise the difference between economic externalities, uncertainty and risk and demonstrate comprehensive knowledge and understanding of approaches to managing, mitigating and coping with uncertainty and risk.
Assessment 28458-05 : Unit 5 Group Assignment: : Coursework (20%)
28458-06 : Final Assessment : Coursework (80%)
Assessment Methods & Exceptions Assessment:
Group work (20%): 1500 words group presentation
Individual assignment (80%): 2000 words

Reassessment:
Students need to resit the failed components of the assessment:
Group work (20%): 1500 words group presentation
Individual assignment (80%): 2000 words
Other None
Reading List