This module introduces you to the external context in which organisations operate and in which they will eventually work. As potential managers of the future, defined as someone involved in assisting and directing members of an organisation to achieve their organisational objectives, you need to be equipped to understand the component parts of the external context within which organisations function. The variety and complexity of the external environment and interactions with organisations has a significant impact upon the way organisations are structured, the way their managers behave and the performance of the organisation in achieving its objectives. Consequently this module will equip you with the skills and knowledge of economics for business that is essential in the current business environment.
On successful completion of the module, students will be able to:
Scheduled teaching and learning will consist of lectures and practical workshops, which will identify and explore the main subject themes and issues as well as providing the opportunity for participatory learning by means of case studies and practical exercises. A Canvas website provides students with study materials and access to a linked website that supports the core text. In addition, students will be expected to access business and academic journals, articles and reports via the Learning Resources Centre and web-based sources.
Due to the experiential nature of the learning on this degree, and the importance of professional development enabling students to develop practical skills, learn from and interact with others, attendance is compulsory. Any students not attending a minimum of 80% of their timetabled sessions will be at risk of academic failure or termination from the course.
| Definitive UNISTATS Category | Indicative Description | Hours |
|---|---|---|
| Scheduled learning and teaching | A combination of lectures and practical workshops | 66 |
| Guided independent study | 234 | |
| Total (number of credits x 10) | 300 | |
Assessment is based upon two pieces of written exam and one coursework:
The individual multiple-choice test assesses students' progress and assimilation of core concepts at a specified point in time. The individual essay identifies specific organisations and reports on firms' interactions with the external environment. The multiple-choice exam focuses on the economic theory used in business, which has been studied throughout the module.
Formative assessment is through students' participation in workshop activities that relate to the application of the module's content to the assessments.
| Learning Outcome | Assessment Strategy |
|---|---|
| 1) Relate to the realities of the external environment that management implements in the pursuit of organisational objectives | Individual multiple-choice test |
| 2) Comprehend the key internal and external factors influencing firms' functions in the economy | Individual report |
| 3) Understand and work within the constraints of the external and internal organisational environment that influences and impacts on the success of firms | Exam (multiple-choice questions) |
| Description of Assessment | Definitive UNISTATS Categories | Percentage |
|---|---|---|
| Individual multiple-choice test | Written Exam 1 | 15% |
| Individual report | Coursework | 45% |
| Exam (multiple-choice questions) | Written Exam 2 | 40% |
| Total (to equal 100%) | 100% | |
It IS NOT a requirement that any element of assessment is passed separately in order to achieve an overall pass for the module.
J Sloman et al. (2016) Economics for Business 7th edition. Pearson. ISBN-10: 1292082100
R Watkins, The Business Environment (Pearson), 2012
Boakes K, (latest edition) Reading and Understanding Economics, Pearson, Harlow.
Watkins R (2012) The Business Environment, 3rd ed, Pearson, Harlow.
Griffiths, A & Wall, S. (2012) Applied Economics, 12th ed, Prentice Hall
Morrison J, (2006) The International Business Environment, 2nd ed, Palgrave