Module FINN43010: Economics for Global Business (Online)

Department: Finance

FINN43010: Economics for Global Business (Online)

Prerequisites

• None.

Corequisites

• None.

Excluded Combination of Modules

• Economics for Global Business (Taught)

Aims

• To contribute to the overall aims of the programme by developing students' understanding of the external context in which organisations operate.
• To enable students to acquire and demonstrate knowledge and understanding of those elements of economic analysis that are relevant for managing in the global economy.
• To develop skills in the application of economic analysis in business decision making and planning.
• To develop a critical understanding of key economic aspects of the global business environment and the impact of changes in that environment at national and international levels.
• To develop links with the Business School's research strategy by incorporating current research into policy issues that affect economic growth at the regional, national and international level.
• To help students develop an appreciation of how historical economic and political processes affect the development of economies in the Global South and the Global North, and the implications this has for the applicability of economic theories, for economic outcomes and for business decision making.

Content

• Microeconomics relevant to decision making in the global business environment
• Macroeconomics relevant to decision making in the global business environment

Learning Outcomes

• Upon successful completion of the module, the students will:
• Have acquired specialised knowledge and understanding of: the underlying fundamentals of the market system; the importance of, and interaction between demand, costs and prices at the level of the firm and the market; the inter-relationship between the competitive environment and business decisions; the macro-economic environment, at national and global level; the internationalisation of firms and multinational activity.
• Be able to appreciate the highly complex nature of the economic system within which business operates.
• Have developed a critical understanding of the importance of corporate and social responsibility, including the sustainability of economic activity, both at micro and macroeconomic level.

• Upon successful completion of the module, the students will:
• be able to apply their economic understanding in management decisions in the global context;
• have practised problem solving and analytical skills in relation to managing in the global environment;

• Written communication;
• Planning, organising and time management;
• Problem solving and analysis;
• Using initiative;
• Computer literacy.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• The module is delivered via online learning, divided up into study weeks with specially produced resources within each week. Resources vary according to the learning outcomes but normally include: video content, directed reading, reflective activities, opportunities for self-assessment and peer-to-peer learning within tutor-facilitated activities.
• The formative assessment serves to encourage students to study regularly and to monitor their learning progress. Tutors provide feedback on formative work and are available for individual consultation as necessary (usually by email and video call).
• The summative assessment comprises regular assessments which serve to support students’ continuous engagement in the development of their knowledge and skills throughout the module. The final written assignment will enable students to further develop their understanding and skills. It will test students’ acquisition and articulation of their knowledge and understanding and their ability to apply what they have learned in a particular context.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Students undertake a series of activities aligned to the module content, receiving ongoing feedback on the theoretical knowledge and how it is applied.

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University