Business Economics

BSc (Hons)

Full-Time

This course is available in Clearing, call us on 0845 271 3333 for more information

Toni Mahler

Business Economics BSc

I have benefitted from the opportunity to take part in competitions such as Flux, where myself and the team were again given access to other university students, innovative strategic management concepts and a 'real-life' experience of working under pressure. These events give students the opportunity to work to their highest capability and give access to a plethora of information whilst building confidence and aiding preparation for the working world.

Course overview

Our business economics course gives a solid foundation in theory, policy and the application of economic principles and policies, as for example with Beyond Markets - Critical Approaches to Economic and Business Economics. A range of modules apply business economic policy in a global context, with modules such as Chinese Economy: Issues and Policies, EU Economy; Issues and Policies, Japanese Economy, Environmental Issues and Policies. Managing the Economy gives you 'hands-on' experience in engaging with economic forecasting. A range of practitioners are involved in helping deliver a number of the modules on our course.

When you graduate you will be able to:
  • display an insight into how markets work, in theory and practice
  • understand how businesses function and how they interact with their environment
  • appreciate the wider macroeconomic picture - and how business operates within it
  • demonstrate a sound appreciation of management practice, including human resources, marketing, accounting and finance and information management
  • show a real awareness and understanding of contemporary global business issues.

On a more practical level, you will be able to:
  • apply economic theory to contemporary business issues
  • utilise appropriate qualitative and quantitative techniques to analyse such issues
  • plan and execute research projects
  • effectively communicate results at whatever level is appropriate to the audience.

Our course is not just about academic excellence and achievement, it also provides the opportunity to develop the skills you will need in order to excel in business in an increasingly global environment. In addition, it will support the development of your capacity to continue to learn and keep up with the fast-changing commercial environment.


Additional course information

  • This course takes a broader perspective on world economic news than the traditional mainstream approaches.
  • This course focuses on applying the key insights of economics rather than deriving abstract theorems.
  • Cambridge has been at the forefront of Economic Research since the 1930's; this continues today and our students can attend open lectures and seminars at the University of Cambridge.

Module guide

Year one core modules
  • Economics for Business and Management

    The first part of this module focuses mainly on the internal environment of the individual business and the ways in which this can influence its operations. The business and economic principles which underpin the determination of price and output, of size and location of business activity and other business decisions are outlined in this module.

  • Introduction to Accounting and Finance

    The module firstly aims to give students a sound grasp of the basics of financial reporting (context, purposes, regulatory framework). It introduces the principal concepts of financial accounting. The preparation of principal financial statements will also be explored. This module is also designed to introduce students to key management accounting skills necessary to support decision-making.

  • Personal Development and Careers

    This module aims to equip the student to function effectively as an independent self-learner within the higher education learning environment, with specific reference to the area of business and management. Students will be introduced to the learning context and the responsibilities of the individual learner. They will be encouraged to develop practical skills identified as being central to undergraduate business degree programmes.

  • International Business in Focus

    The main aims of this module are to provide students with an insight into the factors which affect general business behaviour in a constantly changing global environment. The module will discuss the nature of structural change in an economy and the factors which have accelerated such change e.g. productivity issues and the importance of management performance.

  • Introduction to Organisations and Management

    The organisational context: This module allows students to explore the organisational context and will furnish students with tools to analyse the organisational environment and the degree of dynamism and complexity in which organisations operate. Students will be encouraged to examine organisational responses to environmental turbulence. The development and impact of organisational culture will also be assessed.

  • Marketing Essentials

    It is important that students in the First Year gain knowledge of the integrated nature of business, and of how the various parts fit together to build a sound business knowledge, before they specialize in Years Two and Three. Students should understand that Marketing is a key functional area of business and management which, together with Human Resource Management, Accounting and Finance, and other activities involving resource allocation, can determine the success or failure of an organisation.

  • Analysis of Business

    The module begins by reviewing various techniques for collecting and presenting data. Some important measures and techniques for making sense of raw data are then introduced which are widely used by businesses when analysing both their internal and external environments. This module builds on the introduction to spreadsheet packages previously encountered within the core Learning and Skills Development in Business module or its equivalent.

Year two core modules
  • International Business

    The module introduces students to the important area of international business. It begins by identifying some important patterns and trends in international business activity. The factors influencing the firm's decision as to the degree of internationalisation and the methods adopted are considered, as is the theoretical and institutional framework within which international business must operate.

  • Enterprise and Entrepreneurial Management

    This module will provide an introduction to the behaviours, skills and knowledge surrounding entrepreneurship. The core to this module will involve developing an understanding of the key elements of designing and running the entrepreneurial organisation, such as managing people and other stakeholders, raising finance and managing money, creating profile and generating awareness, selling, and taking either products or services to market.

  • Systems and Operations Management

    The module will give students the opportunity to understand the role of systems and operations management and its integration into efficient and effective running of business. It takes a practical approach which will give the students a good understanding of good business practice within the global organisation. The soft systems approach of SSM to systems development will be used to analyse and define business requirements.

  • Effective Team and Performance Management

    This module introduces students to the important role of teams in organisations and their impact upon individual, team and organisational performance. Through experiential learning activities students will develop an understanding of group dynamics and how they as individuals can manage their own personal influence as a member of a team and how they can impact the contribution and behaviour of others in a group or team context.

Year three core modules
  • Undergraduate Major Project

    The Major Project module allows students to engage in a substantial piece of individual research and/or product development work on a selected topic within the broad business and management field, as appropriate to their interests and background. The project topic will be assessed for suitability to ensure sufficient academic challenge and satisfactory supervision by an academic member of staff.

  • Strategic Management Analysis

    The module is designed to provide students with a holistic view of organisation's strategic position and thus the ability to appreciate the importance of strategic decisions at all levels of the business organisation. Its primary aim is to provide a vehicle for considering issues which cut across the functional boundaries of business organisations and which require multi-disciplinary skills in the solution.

  • Organisational Transformation in Practice

    This module provides the opportunity for students to engage with the leadership and organisational challenges of major transformational change in organisations, communities and societies. This is presented through case examples to illustrate the nature of the attitude, values and behavioural change issues required for successful employee engagement in an organisation's change agenda.

  • Sustainable Management Futures

    This module is a core module on all of AIBS Pathways. It is a capstone module that takes a futures perspective on management, organisations and the changing nature of business and enterprise models. It is both a forward looking and integrative module that aims to bring together our students understanding of the evolving context of sustainable management.

Assessment

Assessment is via a mix of examination, coursework, essays and other written assignments. Coursework includes problem-solving activities, consultancy projects, presentations, business simulations and individual and group reports.

Facilities

Our brand new building in Cambridge offers the most advanced state-of-the-art learning environment.

Special Features

Thomas Carlyle once called economics the Dismal Science, and in the wake of the 2007 financial crisis that has plunged the world into a global economic recession many government ministers, journalists and commentators demanded to know why economists were unable to predict the latest economic crash. Even Queen Elizabeth II demanded to know the answer to this question when she visited a group of British economists!

In the wake of this crisis, however the search for answers to this question has suddenly made economics a very popular subject once again. For example, if you look at the best sellers lists over the last few years you will see the incredible popularity of books such as 'Freakanomics' (Steven Levitt & Stephen Dubner), 'The Undercover Economist' (Tim Harford), or 'Fooled by Randomness' (NassimTaleb).

The purpose of the modules and lectures on our Economics course, just like these texts, is to help you learn the fundamental lessons of economics - and to show how such lessons can be applied to the real world in which you live. Economics can be considered as the 'mother' of all disciplines because all other subject areas such as management, marketing, and finance have evolved from economics. Once you fully comprehend economics you will therefore easily understand the basics of all remaining disciplines.

One of the most interesting things about economics is that although it is regarded as a 'science', it is a discipline that is built on shifting sands. Economics, and our understanding of the economy, is dynamic and forever changing. What we understand about human behaviour and the way in which economy works is constantly being updated to take account of new data and new events. The financial crisis which began to gather pace in 2007, and the subsequent recession, have led to a major rethink about some fundamental assumptions in economic theory. Realising that Economics offers many answers to many different question is an important feature on this course.

Links with industry and professional recognition

Depending on course options taken, graduates may be exempt from certain examinations for some professional bodies.

Our course brings you into close contact with practitioners and specialists from a wide range of functional areas of business and management within the global economy.

Associated careers

A degree in business economics can enable entry into a range of fields including business management, economics, banking and finance. The ability to specialise gives you the opportunity to focus on particular areas of interest and to fine-tune your degree to suit a favoured career.
UCAS Tariff points: 200 - 240
Additional Requirements: GCSE(s) Required: 3 GCSEs at C or above including English and Maths
Entry requirements listed are for September 2013 entry. Entry requirements for other intakes may differ.

Please note all tariff points must come from A levels. Points from AS levels cannot be counted towards the total tariff points required for entry to this course.

An Association of Business Executives (AEB) certificate in Business Management, Financial Management, Human Resource Management or Marketing will be accepted for entry to this course.

Our published entry requirements are a guide only and our decision will be based on your overall suitability for the course as well as whether you meet the minimum entry requirements.

We welcome applications from International and EU students. Please select one of the links below for English language and country-specific entry requirement information.

How to apply

UCAS code

L100

Location

Duration

3 Years

Available starts

September, January

Student finance

Open Day

Saturday 22 June
Undergraduate Open Day

Faculty

Lord Ashcroft International Business School

Department

Economics, Strategy, Marketing and Enterprise

Contact us

UK and EU applicants:International applicants:
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