The Economy of Space

Module title	The Economy of Space
Module code	BEP3171
Academic year	2024/5
Credits	15
Module staff	Ms Madeline Young (Convenor)

Duration: Term	1	2	3
Duration: Weeks		11

Number students taking module (anticipated)	30

Module description

The impact of space activity plays out in numerous ways in our everyday life, but the role of the space economy today is negligible compared to what could be achieved through future innovation and collaboration. The sector is currently being transformed by commercial interest and investment. If the growth of commercial space business (New Space) continues to evolve in line with projections* the sector will provide many exciting future career opportunities for graduates. This module will inspire students to imagine a career in the New Space economy and think critically about the commercialisation of space.

* Researchers at Morgan Stanley estimate that the global space industry could rise to circa $1 trillion by 2040.

Students taking this module will need to have some knowledge of business strategy and practical experience of applying analytical concepts to strategic challenges.

Module aims - intentions of the module

This module aims to introduce students to the concept of New Space in a global market.

Participants will appreciate the impact of space activities on the economy and society, and learn about new business development opportunities in the global space industry.

Adopting a supply chain perspective students will develop an understanding of the evolution of the three major sectors of the space industry. By researching the challenges in one of these sectors: Satellite and spacecraft manufacture, infrastructure support and, spaceport logistics, students will (a) formulate a strategy for a Small and Medium Sized (SME) space business and (b) propose a new product or service to grow and exploit the potential of New Space.

In the process of learning about business opportunities in the space industry participants will develop an understanding of the potential of the sector as a graduate recruiter.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

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

1. develop a critical awareness critically discuss of the history of space technology and space endeavours;
2. evaluate specific ways in which the new space economy differs from other commercial business activity and develop a broad knowledge on managing and operating space infrastructure;
3. distinguish between an economy in space and economy for space;
4. critically evaluate the procurement needs of spaceports, spacecraft and space data software application manufacturers;

ILO: Discipline-specific skills

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

5. analyse the techniques and methodologies employed to understand the implications of high-risk investment;
6. analyse industrial structure, strategy and competitive forces;
7. critique business models;

ILO: Personal and key skills

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

8. demonstrate advanced research skills drawing upon a range of data sources from both academic and applied contexts;
9. visually represent information, data, and knowledge by creatively using technology and digital literacy skills in a format which would be appropriate to a commercial context;
10. synthesise knowledge and utilise skills in rigorous academic analysis and argument.

Syllabus plan

Syllabus:

key themes in the New Space economy
economic measurement of space activities
the commercialisation of space (e.g., private investment in space ventures and space as a graduate recruiter)
space clusters and their implications for economic development
space as an enabler in driving environmental sustainability
developing a market-oriented space sector
regulatory framework for the development of commercial activities in space

Indicative content:

satellite broadband internet, satellite technology and space exploration
growing societal reliance on space-based infrastructure and systems
the space data/products marketplace (and space consumers)
capability of national space agencies engaged in activities related to outer space and space exploration
regionalisation and global integration of the space sector
commercial spaceflight achievements and the age of space tourism
satellite and spacecraft manufacture
spaceports, space logistics and space-related operations
the potential of space mining
internationalisation of the space sector
space governance, policies, ethics and protecting the democracy of space
the issue of space debris and space debris removal technology

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

Scheduled Learning and Teaching Activities	Guided independent study	Placement / study abroad
24	126	0

Details of learning activities and teaching methods

Category	Hours of study time	Description
Seminars/workshops	11	Review of core content and case study analysis
Tutorials	11	Practice use of concepts and templates
Guided Independent Study	30	Preparatory reading and research
Guided Independent Study	40	Asynchronous activity
Guided Independent Study	58	Individual reading and study time for development of strategy document

Formative assessment

Form of assessment	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Prototype design for value proposition	A3 sketch	1-3,5,8,9	Verbal
Outline for strategy department	1000 words	2-8,10	Verbal

Summative assessment (% of credit)

Coursework	Written exams	Practical exams
50	0	50

Details of summative assessment

Form of assessment	% of credit	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Value proposition canvas	50	Infographic (A3 size)	1-3,5,7-9	Written
Strategy document	50	3000 word report	1-4,6,8,10	Written

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
Value proposition canvas	Value proposition canvas (50%) (A3 size)	1-3,5-7-9	Summer re-assessment period
Strategy document	Strategy document (50%) (3000 words)	1-4,6,8,10	Summer re-assessment period

Re-assessment notes

A student will be referred in all components of the assessment that they have failed, if the student fails the module with an overall mark below 40%.

A student if deferred via a single component will be re-assessed in that component only.

Indicative learning resources - Basic reading

Belleflamme, P. and Peitz, M. (2015) Industrial organization: markets and strategies, Cambridge University Press, Cambridge UK.
Burget, M., Bardone, E., & Pedaste, M. (2017). Definitions and conceptual dimensions of responsible research and innovation: a literature review. Science and engineering ethics, 23(1), 1-19
Daft, R., (2016) New Era of Management, (International Edition) Cengage
Ã?ï¿½afak, Y. (2022). Space, the new address of global competition.
Ritzer, G., & Dean, P. (2021). Globalization: A basic text. John Wiley & Sons.
Ruocco, P., & Proctor, T. (1994). Strategic planning in practice: a creative approach. Marketing Intelligence & Planning.

Indicative learning resources - Other resources

European Space Agency https://www.esa.int/
Glasgow spaceport http://www.prestwickaerospace.com/space-port/intro/
Goonhilly Satellite Earth Station https://www.goonhilly.org/
Launch UK https://www.gov.uk/guidance/how-we-are-promoting-and-regulating-spaceflight-from-the-uk#what-is-launchuk
Spaceport Cornwall https://spaceportcornwall.com/
Space Industry Act 2018 - Legislation.gov.uk https://www.legislation.gov.uk/ukpga/2018/5/contents/enacted/data.htm

Key words search

Space, New Business Development, strategy management.

Credit value	15
Module ECTS	7.5
Module pre-requisites	None
Module co-requisites	None
NQF level (module)	6
Available as distance learning?	No
Origin date	17/01/2022
Last revision date	15/08/2022