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IB827 - Economics of the Business Environment

  • Module code: IB827
  • Module name: Economics of the Business Environment
  • Department: Warwick Business School
  • Credit: 10

Content and teaching | Assessment | Availability

Module content and teaching

Principal aims

"Organisations exist within macroeconomic and market contexts that significantly impact upon their behaviour and performance. This module is designed to introduce students to: i. some understanding of how macroeconomic and market contexts themselves are determined and change over time, ii. how the context interacts with the internal economics of the firm and how this impacts upon organisational decision-making.This module will introduce a number of basic concepts used by economists, illustrate the use of these concepts in business, and illustrate how Economics as a discipline can be used to approach business-related questions. The module will require that students become familiar with major recent national and international economic and business trends. The tools of economic analysis presented in this module will generally provide a basis for other modules offered on the MBA, for example, strategy modules, and also specifically be built upon in second and third term electives which will explore: i. how Economics can be used to approach a wider variety of business problems ii. how Economic analysis has led to a variety of national and international policies that are a further aspect of the environments within which organisations operate.By the completion of the module, participants should exhibit:(1) increased knowledge of the global economy and of key current events; (2) understand some core elements of economic analysis and be able to use them; (3) appreciate the internal economics of a business and the contextual constraint on business decisions and be aware of what business cannot do or control in its strategy-making; (4) possess an increased awareness of the effects of public policy on business; (5) understand why business must cope with uncertainty and risk."

Principal learning outcomes

Subject knowledge and understanding: Show increased knowledge of the global economy and of key current events; Possess an increased awareness of the effects on business of public policy; Understand why business must cope with uncertainty and risk. Cognitive Skills:Understand some core elements of economic analysis including the internal economics of the firm and be able to apply them to a variety of organisational and market contexts; Appreciate the contextual constraints on business decisions and be aware of what business cannot do or control in its decision making. Key skills:Develop their awareness of how overall economic issues affect society; Relate economic issues to the activities of a firm and their own activities as managers; View such an issue from the perspectives of other nations, companies and so increase ability to forge partnerships to address such issues. Subject-Specific/Professional Skills: Increase their awareness of economics as a discipline affecting their roles as managers; Understand how external factors can impact a firm.

Timetabled teaching activities

Total contact hours: 7.5 hours; Module duration (weeks): 6 or 12 months; Other activity: Distance learning plus 1 day intensive face-to-face teaching. Students are provided with interactive WBS-authored study materials, online classroom sessions and set texts. Throughout the module, students can undertake formative tasks which test their understanding. The compulsory seminar provides students with face-to-face teaching and opportunities to work on case studies in syndicate groups. Further tutor-led support is available online.

Departmental link

https://my.wbs.ac.uk

Module assessment

Assessment group Assessment name Percentage
10 CATS (Module code: IB827-10)
A3 (Assessed work only) Assessed Course Work 80%
Assessed Course Work 20%

Module availability

This module is available on the following courses:

Core
  • Postgraduate Taught Business Administration (IBM) (N1PM) - Year 10
  • Postgraduate Taught Business Administration (IBM) (N1PM) - Year 11
  • Postgraduate Taught Business Administration (IBM) (N1PM) - Year 2
  • Postgraduate Taught Business Administration (IBM) (N1PM) - Year 3
  • Postgraduate Taught Business Administration (IBM) (N1PM) - Year 4
  • Postgraduate Taught Business Administration (IBM) (N1PM) - Year 5
  • Postgraduate Taught Business Administration (IBM) (N1PM) - Year 6
  • Postgraduate Taught Business Administration (IBM) (N1PM) - Year 7
  • Postgraduate Taught Business Administration (IBM) (N1PM) - Year 8
  • Postgraduate Taught Business Administration (IBM) (N1PM) - Year 9
  • Postgraduate Taught Business Administration (for the Global Energy Industry) (N1PN) - Year 10
  • Postgraduate Taught Business Administration (for the Global Energy Industry) (N1PN) - Year 2
  • Postgraduate Taught Business Administration (for the Global Energy Industry) (N1PN) - Year 3
  • Postgraduate Taught Business Administration (for the Global Energy Industry) (N1PN) - Year 4
  • Postgraduate Taught Business Administration (for the Global Energy Industry) (N1PN) - Year 5
  • Postgraduate Taught Business Administration (for the Global Energy Industry) (N1PN) - Year 6
  • Postgraduate Taught Business Administration (for the Global Energy Industry) (N1PN) - Year 7
  • Postgraduate Taught Business Administration (for the Global Energy Industry) (N1PN) - Year 8
  • Postgraduate Taught Business Administration (for the Global Energy Industry) (N1PN) - Year 9
  • Postgraduate Taught Business Administration (Distance Learning) (N1PR) - Year 6
Optional Core

N/A

Optional
  • Postgraduate Taught Business Administration (Distance Learning) (N1P4) - Year 2
  • Postgraduate Taught Business Administration (Distance Learning) (N1P4) - Year 3
  • Postgraduate Taught Business Administration (Distance Learning) (N1P4) - Year 4
  • Postgraduate Taught Business Administration (Distance Learning) (N1P4) - Year 5
  • Postgraduate Taught Business Administration (Distance Learning) (N1P4) - Year 6
  • Postgraduate Taught Business Administration (Distance Learning) (N1P4) - Year 7
  • Postgraduate Taught Business Administration (Distance Learning) (N1P4) - Year 8
  • Postgraduate Taught Business Administration (Distance Learning) (N1PR) - Year 2
  • Postgraduate Taught Business Administration (Distance Learning) (N1PR) - Year 3
  • Postgraduate Taught Business Administration (Distance Learning) (N1PR) - Year 4
  • Postgraduate Taught Business Administration (Distance Learning) (N1PR) - Year 5
  • Postgraduate Taught Business Administration (Distance Learning) (N1PW) - Year 2
  • Postgraduate Taught Business Administration (Distance Learning) (N1PW) - Year 3
  • Postgraduate Taught Business Administration (Distance Learning) (N1PW) - Year 4
  • Postgraduate Taught Business Administration (Distance Learning) (N1PW) - Year 5
  • Postgraduate Taught Business Administration (Distance Learning) (N1PW) - Year 6