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Session: 2022/23
Last modified: 29/03/2022 08:49:55
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Title of Module: Economic Principles |
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Code: LNDN07002 |
SCQF Level: 7
(Scottish Credit and Qualifications Framework) |
Credit Points: 20 |
ECTS: 10
(European Credit Transfer Scheme) |
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| School: | School of Business & Creative Industries |
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| Module Co-ordinator: | Alloysius
Edbulonu |
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| Summary of Module |
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?This module aims to introduce students to the external environment in which a business organisation operates. It focuses on both the microeconomic and macroeconomic environment, and considers both national and international aspects.
The module helps students view economics as an integral part of business by starting with the problems that businesses face every day and using economics to help understand and solve these problems. Emphasis is on real world applications of economics to business, such as the cause and impact of the credit crunch on firms. The use of case studies are central to this module. Case study and group work are essential modes of learning and the student is expected to actively participate and to make a contribution. The essence of the module is that learning is a two way process and that active participation is essential to the success of the module and to the achievement of the individual.
At the end of the module, the successful student will have knowledge and understanding of some of the key theoretic principles that guide business and which underpin and support all degrees within the Business School.
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| Module Delivery Method |
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| Face-To-Face | Blended | Fully Online | HybridC | HybridO | Work-based Learning |
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Face-To-Face
Term used to describe the traditional classroom environment where the students and the lecturer meet synchronously in the same room for the whole provision.
Blended
A mode of delivery of a module or a programme that involves online and face-to-face delivery of learning, teaching and assessment activities, student support and feedback. A programme may be considered “blended” if it includes a combination of face-to-face, online and blended modules. If an online programme has any compulsory face-to-face and campus elements it must be described as blended with clearly articulated delivery information to manage student expectations
Fully Online
Instruction that is solely delivered by web-based or internet-based technologies. This term is used to describe the previously used terms distance learning and e learning.
HybridC
Online with mandatory face-to-face learning on Campus
HybridO
Online with optional face-to-face learning on Campus
Work-based Learning
Learning activities where the main location for the learning experience is in the workplace.
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| Term(s) for Module Delivery |
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(Provided viable student numbers permit).
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| Term 1 | | Term 2 | | Term 3 | |
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| Learning Outcomes: (maximum of 5 statements) |
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On successful completion of this module the student will be able to:
L1.
Demonstrate an understanding of the market system and the competitive environment within which a business operates, and the role of government
L2.
Demonstrate an understanding of the macroeconomic environment within which a business operates, and the role of government.
L3.
Apply economic theory to business situations
L4.
Develop an understanding of the organisational aspects of businesses and the basic principles of management |
| Employability Skills and Personal Development Planning (PDP) Skills |
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| SCQF Headings |
During completion of this module, there will be an opportunity to achieve
core skills in:
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| Knowledge and Understanding (K and U) |
SCQF Level 7.
Developing a broad knowledge of basic international economic concepts, including opportunity cost, moral hazard and incentive. An understanding of the main theories and principles of the market system and the competitive process |
| Practice: Applied Knowledge and Understanding |
SCQF Level 7.
Applying the theory of supply and demand and the principle of marginal analysis to costs and prices in given scenarios; |
| Generic Cognitive skills |
SCQF Level 7.
Explaining the link between microeconomic and macroeconomic phenomena, distinguishing the nature of competition in different international market structures |
| Communication, ICT and Numeracy Skills |
SCQF Level 7.
Communicating orally, numerically and in writing through analysis of case studies and online data sources. Translating numerical data into graphical form and presentation of results |
| Autonomy, Accountability and Working with others |
SCQF Level 7.
Ability to work as part of a study/discussion group, to work to written instructions and to undertake limited research and undertake online data search |
| Pre-requisites: |
Before undertaking this module the student should have
undertaken the following:
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Module Code:
| Module Title:
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| Other: | |
| Co-requisites | Module Code:
| Module Title:
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* Indicates that module descriptor is not published.
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| Learning and Teaching |
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| In line with UWS’ Curriculum Framework, providing a flexible and hybrid, student-centred and inclusive approach to learning and teaching, the module has been designed around the delivery of engaging, activity- and discussion-based workshops, nurtured by meaningful online content, including short videos, reading materials, quizzes, etc. This approach creates more flexibility for students, while also enhancing deeper learning through engagement with peers and teaching staff, both online and in the classroom. This is further supported by the assessment approach adopted, enabling students to develop both academic and employability-focused knowledge and skills within international business — all aligned to the overarching purpose and aims of the programme. |
Learning Activities
During completion of this module, the learning activities undertaken to
achieve the module learning outcomes are stated below:
| Student Learning Hours
(Normally totalling 200 hours):
(Note: Learning hours include both contact hours and hours spent on other learning activities) |
| Lecture/Core Content Delivery | 36 |
| Independent Study | 164 |
| 200
Hours Total
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**Indicative Resources: (eg. Core text, journals, internet
access)
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The following materials form essential underpinning for the module content
and ultimately for the learning outcomes:
Begg, D. and Ward, D. (2020) Economics for Business, (sixth ed), McGraw Hill
Details of further resources, including textbooks, journals and online resources will be identified at the beginning of each delivery in the module handbook and made available via VLE
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(**N.B. Although reading lists should include current publications,
students are advised (particularly for material marked with an asterisk*) to
wait until the start of session for confirmation of the most up-to-date
material)
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| Engagement Requirements |
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In line with the Academic Engagement Procedure, Students are defined as academically engaged if they are regularly engaged with timetabled teaching sessions, course-related learning resources including those in the Library and on the relevant learning platform, and complete assessments and submit these on time. Please refer to the Academic Engagement Procedure at the following link: Academic engagement procedure |
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Supplemental Information
| Programme Board | Marketing, Innovation, Tourism & Events |
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| Assessment Results (Pass/Fail) |
No
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| Subject Panel | TBC |
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| Moderator | TBC |
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| External Examiner | TBC |
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| Accreditation Details | |
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| Version Number | 1 |
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| Assessment: (also refer to Assessment Outcomes Grids below) |
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| One hour ‘seen’ class-based assessment of analysis and application (50%) |
| Coursework (50%) |
(N.B. (i) Assessment Outcomes Grids for the module
(one for each component) can be found below which clearly demonstrate how the learning outcomes of the module
will be assessed.
(ii) An indicative schedule listing approximate times
within the academic calendar when assessment is likely to feature will be
provided within the Student Handbook.)
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Assessment Outcome Grids (Footnote A.)
Footnotes
A. Referred to within Assessment Section above
B. Identified in the Learning Outcome Section above
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Note(s):
- More than one assessment method can be used to assess individual learning outcomes.
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Schools are responsible for determining student contact hours. Please refer to University Policy on contact hours (extract contained within section 10 of the Module Descriptor guidance note).
This will normally be variable across Schools, dependent on Programmes &/or Professional requirements.
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| Equality and Diversity |
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UWS Equality and Diversity Policy |
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(N.B. Every effort
will be made by the University to accommodate any equality and diversity issues
brought to the attention of the School)
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