Economics & Finance

Module title	Economics & Finance
Module code	INT0064
Academic year	2022/3
Credits	30
Module staff

Duration: Term	1	2	3
Duration: Weeks	10	10

Number students taking module (anticipated)	60

Description - summary of the module content

Module description

All business managers should have a working knowledge of financial reporting and an understanding of the basic techniques of management accounting alongside an understanding of both micro-economics (how?individual units– a person, household, firm or government make economic decisions and how those decisions, coordinated by markets, affects the distribution and use of scarce resources)?and macro-economics (theories and policies in relation to the economy as a whole).?Introducing students to these key areas of study, this module includes consideration of financial statements. how to complete and interpret them, and how to understand and evaluate the financial performance and position of a business.?

Module aims - intentions of the module

To introduce core concepts of micro-economics and macro-economics

To provide an introduction to financial and management accounting

To enable students to apply core concepts from 1-2 (above) to real world scenarios.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

1. Demonstrate an awareness of basic micro-economic concepts about scarce resources and choices that must be made in societies.
2. Demonstrate an awareness of basic macro-economic theories and policy in relation to the economy as a whole.
3. Demonstrate an awareness of different market structures.
4. Use appropriate management accounting techniques to analyze a business situation and use this information to guide rational business-based decision making.
5. Use ratios to analyse and interpret financial information.

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

6. With guidance, analyse, synthesize and present appropriate information to assist with decision making.
7. Evaluate different approaches and procedures and apply them to practical situations.

ILO: Personal and key skills

On successfully completing the module you will be able to...

8. Develop confidence with numerical procedures.
9. Communicate information effectively using conventions appropriate to the discipline.

Syllabus plan

A 30 credit module, Economics and Finance features a range of study methods which typically include lectures, seminars, and self-study. The content of the module broadly consists of the interconnected study of Micro-economics, Macro-economics, and Financial and Management Accounting. By the end of the module, students will be able to demonstrate the intellectual, transferable and practicable skills appropriate to these topics and level of study. In particular students will be able to:

Understand key terms, ideas, and concepts related to the subject of study
Apply relevant theory to make business decisions
Extract and synthesize information, create reports, andformulate a response to problem solving activities
Practice the skills of independent learning and time management

Topics typically studied include:

Markets, Demand, and Supply
Markets in Action
Market Structures
Interpreting Financial Statements and Ratios
Macro-economic policy
Investment Appraisal technique

Learning and teaching

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching Activities	Guided independent study	Placement / study abroad
90	210

Details of learning activities and teaching methods

Category	Hours of study time	Description
Lectures and follow-up tasks	20	Lectures are pre-recorded allowing students opportunity to save, pause and re-watch them
Seminars	70	Seminars -? these will be a mixture of class discussion and individual and group tasks?
Guided independent Study	210	Reading and preparation for class discussion, research for assignment, exam revision, use of web materials?

Assessment

Formative assessment

Form of assessment	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Exam-style questions, online tests, case studies and problem-solving activities	1 - 2 hours weekly	1-9	Written and Verbal

Summative assessment (% of credit)

Coursework	Written exams	Practical exams
30	70	0

Details of summative assessment

Form of assessment	% of credit	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Online Test	20	2 hours	1,3,8,9	Written and Verbal
Written Report	30	Paired (1,500 words)	5,6,7,8,9	Written and Verbal
Examination	50	2 hours	2,4,8,9	Written
	0

Re-assessment

Details of re-assessment (where required by referral or deferral)

Original form of assessment	Form of re-assessment	ILOs re-assessed	Timescale for re-assessment
Online Test	Online Test	1,3,8,9	Next assessment opportunity
Written Report	Written Report - Paired (1,500 words) OR individual (as required)	5,6,7,8,9	Next assessment opportunity
Examination	Examination	2,4,8,9	Next assessment opportunity
Referral Examination	Examination	1-9	Next assessment opportunity

Re-assessment notes

Deferral – if you miss an assessment for reasons judged legitimate by the Mitigation Committee, the applicable assessment will normally be deferred. See ‘Details of re-assessment’ for the form that assessment usually takes. When deferral occurs there is ordinarily no change to the overall weighting of that assessment.

Referral – if you have failed the module overall (i.e. a final overall mark of less than 40% achieved) you will be required to take a re-sit exam (open book). Only your performance in this exam will count towards your final module grade. A grade of 40% will be awarded if the examination is passed.

Resources

Indicative learning resources - Basic reading

Basic Reading:

Sloman, J. & Garratt, D. (2019) (8th ed.)Essentials of Economics. Pearson
Carey, M. & Knowles, C. (2020) (4th ed.). Accounting: A Smart Approach. Oxford University Press

Indicative learning resources - Web based and electronic resources

Web-based and electronic resources:

ELE (the online learning platform) is an integral part of this course: further reading and links to related material are available there.

Module has an active ELE page

Key words search

Micro-economics, Macro-economics, Financial Accounting, Management Accounting

Credit value	30
Module ECTS	15
Module pre-requisites	None
Module co-requisites	None
NQF level (module)	3
Available as distance learning?	No
Origin date	16/02/2022