ECONOMICS OF INTERNATIONAL BUSINESS COMPETITION - 2021/2
Module code: ECO3040
In light of the Covid-19 pandemic, and in a departure from previous academic years and previously published information, the University has had to change the delivery (and in some cases the content) of its programmes, together with certain University services and facilities for the academic year 2020/21.
These changes include the implementation of a hybrid teaching approach during 2020/21. Detailed information on all changes is available at: https://www.surrey.ac.uk/coronavirus/course-changes. This webpage sets out information relating to general University changes, and will also direct you to consider additional specific information relating to your chosen programme.
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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
GOLSON Eric (Economics)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 6
JACs code: L160
Module cap (Maximum number of students): N/A
Prerequisites / Co-requisites
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 type||Unit of assessment||Weighting|
|School-timetabled exam/test||CLASS TEST - 45 MINUTES - MULTIPLE CHOICE QUESTIONS||15|
|Oral exam or presentation||GROUP PRESENTATION (ORAL TYPE PRESENTATION)||15|
|Examination||EXAM - 2 HOURS - SHORT ANSWERS AND ESSAY QUESTIONS||70|
Alternative 1,250 word essay on a given topic to be offered those who do not participate in the group presentation for EC reasons.
The assessment strategy is designed to provide students with the opportunity to demonstrate their 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 3,000-word coursework essay, worth 30% of the final mark; students select an essay title from a list of three topics; typically submitted in week 9.
- A two-hour final examination which offers a choice of essay and more quantitative questions. Worth 70% of the final mark.
Formative assessment and feedback
There will be ample opportunities for students to ask questions during lectures and to receive verbal feedback. We will also discuss a set of exercises designed to deepen their understanding of the various economic models used in the lectures. Prior to the final exam, sample questions and outline solutions will be made available for students to familiarise themselves with the style of the assessment. Students will also be given the opportunity to submit outline drafts of their coursework essays and to obtain detailed written and oral feedback on these drafts.Finally, office hours provide further opportunities for individual feedback.
- familiarise students with analytical concepts and models which assist in the understanding of the global competitive environment.
|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|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Overall student workload
Independent Study Hours: 123
Lecture Hours: 22
Tutorial Hours: 5
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.
Upon accessing the reading list, please search for the module using the module code: ECO3040
Programmes this module appears in
|Business Economics BSc (Hons)||1||Compulsory||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 2021/2 academic year.