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? Question 1 (20 marks) – guidance: 250 words
Business Economics is a useful toolbox for understanding the business environment
and making better decisions. Consider you are the managing director of a
manufacturing company based in UK; describe the different aspects of the business
that you should be looking at from an economics perspective in order to run the
company efficiently. Consider both the microeconomics and macroeconomics
perspectives.
Learning outcomes assessed: a, b
? Question 2 (30 marks) – guidance: 500 words
Focus on one microeconomics aspect and a macroeconomic one from those you
have described in Question 1 and explain using economics theory how you would
improve the running of your company. Use real world examples to back your answer
(you may use examples from the press, books, journals, etc).
Learning outcomes assessed: a, b, c
? Question 3 (50 marks) – guidance: 1,000 words
Let’s consider that your company is looking at expanding internationally by opening a
new manufacturing facility in a non-EU country. Choose the country where you
would be locating the new branch justifying your answer based on a
macroeconomic analysis; you should review at least the following aspects:
a) Macroeconomic conditions of the country.
b) Current economic policy (fiscal and monetary).
Learning outcomes assessed: a, b, c
Total marks for assignment: 100
Content will reflect the students’ ability to
understand and to analyse business
economics as taught.
Answers to be based on an interpretation of
class hand-outs and evidence of background
reading. That is, there should be clear
demonstration of focused rigorous research
from recognised authoritative sources.
Demonstration of a clear understanding of
the issues. Use of academic models. Clear
focussed understanding of a topic.
Critical analysis is an important test of the
student’s ability to evaluate business
economics concepts.
Introductions and conclusions should briefly
address the issues to be discussed and
discussed respectively.
i need to let you know the key recommended textbook for the business economics
Sloman, J., and Jones, E. (2011) Economics and the Business Environment, 3rd
Ed., Harlow, Pearson
Earl, P. and Wakeley, T. (2005) Business Economics: A Contemporary Approach,
London, McGraw-Hill.
Harvey, J. and Jowsey, E. (2007) Modern Economics: An Introduction, 8
th
Ed.,
Palgrave McMillan.
Sloman, J., Hinde, K. and Garratt, D. (2013) Economics for Business, 6th
Ed.
Harlow, Pearson
harvard referencing
BBC News (http://www.bbc.co.uk/news/)
Bloomberg BusinessWeek (http://www.businessweek.com/ )
Business Insider (http://www.businessinsider.com/ )
The Economist (http://www.economist.com/)
Financial Times (http://www.ft.com/home/uk )
Forbes (http://www.forbes.com/fdc/welcome_mjx.shtml)
Office for National Statistics (http://www.ons.gov.uk/ons/index.html )
The Sunday Times – Business section
(http://www.thesundaytimes.co.uk/sto/business/)
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