BUSINESS ECONOMICS - 2020/1

Module Overview

Business economics is the study of the decisions of consumers and businesses and their interaction of these decisions in markets. Therefore, it plays an important role in the understanding of firms’ behaviour and particularly in the understanding of the ways in which businesses operate.

Module provider

Surrey Business School

Module Leader

MILLIGAN Victoria (SBS)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 4

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

Module Availability

Semester 2

Prerequisites / Co-requisites

None

Module content

• Introduction to basic notions in economics


• Microeconomics
  
  
  
  • Demand
  
  
  • Supply
  
  
  • Elasticity
  
  
  • Costs, supply and perfect competition
  
  
  • Imperfect competition
  
  
  • Market failure and the role of government
  
  
  
  


• Macroeconomics
  
  
  
  • The income and output of nations
  
  
  • Short-run fluctuations in income and output
  
  
  • Interest rates, money and inflation
  
  
  • Inflation and unemployment
  
  
  • Exchange rates and the balance of payments
  
  
  • The global economy
  
  
  • European Integration
  
  
  
  

Assessment pattern

Alternative Assessment

Not applicable

Assessment Strategy

The assessment will be made on the basis of a 45-minute test and a 2-hour examination.

The 45-minute test (25% of the total mark) will be a standard multiple choice closed book test, with material coming directly from the module content. The broader topics for the questions will be covered during the lectures and the tutorials.

The 2-hour examination (75% of the total mark) will be a standard closed book examination and the answers will be short essays/ simple math. The broader topics for the questions will be covered during the lectures and the tutorials.

Thus, the summative assessment for this module consists of:

• A multiple choice test (25% of final grade)


• A final exam (75% of final grade)

• Verbal feedback in tutorials and during office hours.


• Verbal and written feedback on their assignments.


• Any other feedback where needed.

Module aims

• Provide students with a knowledge of concepts of Business Economics - both at Macro and Micro level.
• Provide an understanding of both economic theory and practical examples and to demonstrate how businesses and consumers are influenced by Government and economic policies.
• Foster an awareness of economics and policies and to enable students to apply their theoretical knowledge to current economic situations

Learning outcomes

Methods of Teaching / Learning

The learning and teaching strategy is designed to:

The teaching and learning strategy is designed to develop the students’ awareness of all the elements included in the module content. Teaching will be made as interactively as possible in both the lectures and the tutorials.

In particular, the teaching and learning methods include the use of weekly lectures to illustrate the theory, supported by one-hour tutorials, which will demonstrate the practical application of such theory, take on specific exercises and problem sets and analyse the requirements for the course work. Lecture notes will be made available and regular exercises will be set to test students’ understanding on an on-going basis.

The learning and teaching methods include:

• Lectures (1 hour per week x 11 weeks = 11 conduct hours with discussion)


• Tutorials (1 hour per week x 11 weeks = 11 conduct hours of problem solving and discussion)


• Drop-ins (1 hour per week x 11 weeks = 11 hours of student support and discussion)

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

https://readinglists.surrey.ac.uk
Upon accessing the reading list, please search for the module using the module code: MAN1071

Programmes this module appears in

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 2020/1 academic year.