Module BIC-0028:
Business Environment

Module Facts

Run by Marketing: Bangor International College

20 Credits or 10 ECTS Credits

Semester 1 & 2

Organiser:

Overall aims and purpose

The aims of the module are to introduce business students to economic theories and systems and relate these to the environment within which businesses function. Students will further be equipped with the critical skills to apply the concepts and principles they study in a business context, Students will be taught to consider the impact of government policies and actions on businesses and to look beyond national policies to the influence of wider economic and political groupings of states.

Course content

The module considers key elements of both micro- and macro-economics and relates them to the experiences of entrepreneurs and their businesses. Theories, models and systems are considered and compared in their impact on the business community. The impact of national economic policies is examined but consideration is also given to wider economic groupings such as the European Union and to the impact of the globalisation of business organisations and activities. The relevance of these topics to the students’ preparation for a business masters is constantly stressed. Students are taught to distinguish between micro- and macro-economics and between positive and normative economics. They learn how to source materials and undertake quantitative and qualitative research. Among the topics taught are different economic models, command, mixed and capitalist and the concept of long run and short run. They learn about efficiency as a concept in Economics and market failure. The module also covers the role of government and considers issues such as taxation and subsidy, competition policy, regulation and supervision, the reasons for and impact of government intervention and the factors influencing government policy such as inflation and unemployment figures. The significance of the continuing drive for economic growth, the growing significance of multinational companies, the impact of globalisation and issues around the environment and climate change are introduced.

Assessment Criteria

threshold

Student has performed sufficiently well in demonstrating a basic knowledge and understanding of a number of topics studied to have achieved the lowest level of pass grades.

good

Student has scored well in many of the topics studied and achieved the progression grade, and so demonstrated a clear suitability for the next phase of the master’s programme

excellent

Student has engaged consistently with all the topics of the module and so demonstrated a high level of suitability for the next phase of the master’s programme

Learning outcomes

  1. 2) Source information on contemporary situation for governments and businesses

  2. 3) Demonstrate a basic knowledge of research methods in accessing, evaluating and recording information

  3. 4) Show critical evaluation skills in considering arguments, opinions and data within the subject area

  4. 6) Communicate views and ideas in a range of media

  5. 5) Deploy problem solving techniques to suggest solutions to problems posed during their studies

  6. 1) Demonstrate a basic understanding of economic theories, concepts and systems

Assessment Methods

Type Name Description Weight
1 written essay 25
1 written essay 25
final exam 50

Teaching and Learning Strategy

Hours
Private study 80
Practical classes and workshops 120

Transferable skills

  • Literacy - Proficiency in reading and writing through a variety of media
  • Exploring - Able to investigate, research and consider alternatives
  • Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
  • Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting

Subject specific skills

  • Demonstrate an understanding and ability to analyse economic issues on a local and international scale
  • Accurately apply business models to show an understanding of efficiency and external pressures to an organisation
  • Demonstrate an understanding of the business environment, legal processes and systems

Resources

Resource implications for students

Students will be required to purchase the core text book

Reading list

Mankiw, N. G. (2007) Macroeconomics (6th edition) Worth Publishers

Perloff, J. Microeconomics (4th edition) Pearson/Addison Wesley Sloman, J. (2002) Economics Prentice Hall

Courses including this module