Module code: ECO3040

Module Overview

The module provides a central component of a business economics programme by using the techniques of  economic analysis to consider the nature of business and competition in the modern global economy

Module provider


Module Leader

TEMPLE Paul (Economics)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 6

Module cap (Maximum number of students): N/A

Overall student workload

Independent Learning Hours: 123

Lecture Hours: 22

Tutorial Hours: 5

Module Availability

Semester 1

Prerequisites / Co-requisites


Module content

Indicative content includes:

  • Models of international comparative advantage: technology and endowments of factors of production as sources of comparative advantage; the implications of trade for economies. Technology and its international diffusion. Learning by doing and dynamic comparative advantage; infant industries and the case for protection.

  • Models of product market competition in the global economy: price versus non-price competitiveness; horizontal and vertical product differentiation and innovation; increasing returns and the role of market size: monopolistic competition and intra-industry trade; the pro-competitive impact of trade; strategic trade.

  • Sources and implications of competitive advantage: location, clustering, networks, and innovation. Multi-national activity. 

  • Economic analysis of institutions and policies in the global economy. Varieties of capitalism in the modern global economy and the concept of institutional complementarities; varieties of corporate governance and economic performance; national differences in science, technology and innovation policy.

Assessment pattern

Assessment type Unit of assessment Weighting
School-timetabled exam/test CLASS TEST - 45 MINUTES - MULTIPLE CHOICE QUESTIONS 15

Alternative Assessment

Alternative 1,250 word essay on a given topic to be offered those who do not participate in the group presentation for EC reasons.

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate understanding of the major ways in which businesses (and nations) compete in a variety of ways, including both technical and comparative analysis.

Thus the summative assessment for this module consists of two units of assessment

A multiple choice class test (45 minutes) worth 15% of the module mark. It will require understanding of the fundamental concepts underpinning economists’ analysis of international trade and specialization.

A group class presentation (15 minutes) worth 15% of the module mark based on a preassigned task.     

An examination (2 hours) requiring 3 short answers from 5 drawn from a larger pool of seen questions (50% of the exam mark) and an essay (50% of the exam mark) which is selected from seen topics released prior to the examination.  

Formative assessment and feedback

All lectures encourage discussion - permitting formative feedback while warm-up questions form part of the lecture. General feedback is given after the test, while individual annotated feedback is provided from the short answer component. Office hours provide further opportunities for individual feedback.

Module aims

  • familiarise students with analytical concepts and models which assist in the understanding of the global competitive environment.

Learning outcomes

Attributes Developed
001 Discuss the causes and consequences of international specialization KC
002 Analyse specialization based upon both comparative advantage and competitive advantage KC
003 Analyse the nature and consequences of product market competition and innovation in the modern global economy KC
004 Display knowledge of the role of international firms and the causes and consequences of foreign direct investment KC
005 Discuss the role of clusters and networks in promoting innovation KC
006 Analyse the role of institutions and policies in promoting international business competitiveness KC

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Methods of Teaching / Learning

The learning and teaching strategy is designed to:

provide students with a broad understanding of how a variety of techniques of economic analysis can be applied to understand the nature and implications of business competition in a globalising economy.

The learning and teaching methods include:

  • 2 hour lecture (including test) with numerous opportunities for feedback and informal discussion per week x 11 week

  • 1 hour feedback sessions (including presentation seminar) with opportunities for discussion and feedback per week x 5 week

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list
Upon accessing the reading list, please search for the module using the module code: ECO3040

Programmes this module appears in

Programme Semester Classification Qualifying conditions
Business Economics BSc (Hons) 1 Compulsory A weighted aggregate mark of 40% is required to pass the module
Liberal Arts and Sciences BA (Hons)/BSc (Hons) 1 Optional A weighted aggregate mark of 40% is required to pass the module

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2019/0 academic year.