Overview:
- Credits:
- 5.0
- Level:
- 4
- Semester:
- Autumn
- Subject:
- Finance
- School:
- Business
- Coordinator:
- Mr Jim Power
FIN41290 Business, Economics, and Society
Academic Year 2023/2024
This Module is designed to provide students with an overview of the economic environment in which firms operate and in which policy makers make decisions. It also looks at how economics relates to societal issues.The Module will consider 3 aspects of economics: MIcro-Economics, Macro-Economics, and how Economics and Business relate to Society.
The micro-economic environment examines the economic forces that impact on business performance. It will explain the forces of supply and demand that impact on firms, and provide an understanding of the market structure in which a firm operates and the implications of this. Attention will be given to the theoretical frameworks underpinning business operations and how they interact with the customer base.
The module will also examine the macro-economic environment. This will explain the role of policymakers, the tools of policymaking, and the key targets that policymakers are seeking to achieve.
The module will also examine how economics impacts on society.
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Curricular information is subject to change
Learning Outcomes:
On completing this module, you will be able to:
1. Understand and describe the key features and characteristics of the broad economic and financial environment.
2. Demonstrate an understanding of the theoretical frameworks within which policymakers operate and within which consumers and businesses operate.
3. Understand the role of policy makers and how they operate and what they seek to achieve.
4. Understand current developments against relevant theoretical frameworks.
5. Relate economic theory to the real world of business.
6. Read and understand the financial and economic press.
1. Update on current global economic events.
2. Introduction to Economics – Relationship between Business and Economics – Introduction to Policy Making – Nature of Firms.
3. Business & Markets – Demand & Supply; Concept of Elasticity; Dealing with Risk & Uncertainty.
4. Consumer Behaviour; Economics of Advertising & Marketing.
5. Background to Supply; Costs, Revenue & Profit Maximisation.
6. Alternative Market Structures – Perfect Competition, Monopoly, Imperfect Competition.
7. Macro-Economic Environment: Growth, Unemployment, Inflation.
8. Macro-Economic Policy.
9. Review & Conclusions.
| Student Effort Type | Hours |
|---|---|
| Lectures | 24 |
| Small Group | 1 |
| Autonomous Student Learning | 101 |
| Total | 126 |
Requirements, Exclusions and Recommendations
Not applicable to this module.
Module Requisites and Incompatibles
Not applicable to this module.
| Resit In | Terminal Exam |
|---|---|
| Spring | No |
Feedback Strategy/Strategies
• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment
How will my Feedback be Delivered?
Feedback for the individual assignment and the group assignment will be provided post assessment.
| Name | Role |
|---|---|
| Ms Aoife Mulqueen | Lecturer / Co-Lecturer |
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