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FIN41290

Academic Year 2024/2025

Business, Economics, and Society (FIN41290)

Subject:
Finance
College:
Business
School:
Business
Level:
4 (Masters)
Credits:
5
Module Coordinator:
Mr Jim Power
Trimester:
Autumn
Mode of Delivery:
On Campus
Internship Module:
No
How will I be graded?
Letter grades

Curricular information is subject to change.

This Module is designed to provide students with an overview of the economic environment in which firms operate and in which policy makers make decisions. It also looks at how economics relates to societal issues.

The Module will consider 3 aspects of economics: MIcro-Economics, Macro-Economics, and how Economics and Business relate to Society.

The micro-economic environment examines the economic forces that impact on business performance. It will explain the forces of supply and demand that impact on firms, and provide an understanding of the market structure in which a firm operates and the implications of this. Attention will be given to the theoretical frameworks underpinning business operations and how they interact with the customer base.

The module will also examine the macro-economic environment. This will explain the role of policymakers, the tools of policymaking, and the key targets that policymakers are seeking to achieve.

The module will also examine how economics impacts on society.

About this Module

Learning Outcomes:

On completing this module, you will be able to:

1. Understand and describe the key features and characteristics of the broad economic and financial environment.

2. Demonstrate an understanding of the theoretical frameworks within which policymakers operate and within which consumers and businesses operate.

3. Understand the role of policy makers and how they operate and what they seek to achieve.

4. Understand current developments against relevant theoretical frameworks.

5. Relate economic theory to the real world of business.

6. Read and understand the financial and economic press.

Indicative Module Content:

1. Update on current global economic events.
2. Introduction to Economics – Relationship between Business and Economics – Introduction to Policy Making – Nature of Firms.
3. Business & Markets – Demand & Supply; Concept of Elasticity; Dealing with Risk & Uncertainty.
4. Consumer Behaviour; Economics of Advertising & Marketing.
5. Background to Supply; Costs, Revenue & Profit Maximisation.
6. Alternative Market Structures – Perfect Competition, Monopoly, Imperfect Competition.
7. Macro-Economic Environment: Growth, Unemployment, Inflation.
8. Macro-Economic Policy.
9. Review & Conclusions.

Student Effort Hours:
Student Effort Type Hours
Autonomous Student Learning

101

Lectures

24

Small Group

1

Total

126


Approaches to Teaching and Learning:
Active/task-based learning, peer and group work, lectures and critical writing.

Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.
 

Assessment Strategy
Description Timing Component Scale Must Pass Component % of Final Grade In Module Component Repeat Offered
Exam (In-person): In house exam in December 2024. Accounting for 70% of Final Mark. End of trimester
Duration:
2 hr(s)
Graded No
70
No
Group Work Assignment: Group Assignment accounting for 30% of Final Mark. Week 10 Graded No
30
No

Carry forward of passed components
Yes
 

Resit In Terminal Exam
Spring Yes - 2 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 

Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Feedback for the individual assignment and the group assignment will be provided post assessment.

Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
Autumn Lecture Offering 1 Week(s) - 0, 2, 4, 5, 7, 8, 9, 10, 11 Fri 08:30 - 10:20
Autumn Lecture Offering 1 Week(s) - 3, 12 Mon 14:00 - 15:50
Autumn Lecture Offering 1 Week(s) - 1 Wed 14:00 - 15:50