Business Economics BSc (Hons)

Full-time undergraduate (3 years, 4 years with placement)

Cambridge

September 2016

code: L100, L103

Available in Clearing call 01245 684430


Overview

Explore the fascinating, far-reaching field of economics and the business disciplines that have evolved from it – including finance, management and marketing. Find out how we use economics in our everyday lives, and gain a range of skills that are highly valued by employers.

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Full description

Careers

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Our BSc (Hons) Business Economics gives you the theoretical and practical knowledge you’ll need to work as an economist. It also provides a basis for a wide range of careers in industry, business and the public sector.

On graduation, you could choose to progress to postgraduate studies in economics, or in a variety of business- and policy-related disciplines.

Or, when you graduate, you might choose to pursue further study, such as our MSc Management, MSc International Business or our MBA.

Modules & assessment

Year one, core modules

  • Academic Skills
    On this module, you'll learn a range of skills required to function effectively as an independent self-learner. You'll develop both practical and academic skills that are essential for you to be successful in your chosen business undergraduate degree. The module will equip you with skills that can be used in modules throughout your chosen degree. The focus of the module includes: the use of information technology and associated software packages, presentation skills, problem-solving, both individually and in teams, critical analysis, critical writing and referencing.
  • Economics for Managers
    This module introduces you to the fundamentals of economics and focuses on applying key economic insights to business and management. First, the module focuses on microeconomics - the decisions and behaviour of individuals and firms. The economic principles underlying the determination of price and output, firm costs, industrial structure and market failures are outlined. Next, the module focuses on macroeconomics - the economy at national and international levels - and its impacts on business behaviour. You’ll learn how the key macroeconomic variables (inflation, unemployment, and so on) influence business activity and government macroeconomic policy.
  • Introduction to Accounting and Finance
    This module aims to give you a sound grasp of the basics of financial reporting (context, purposes, and regulatory framework) through introducing the principal concepts of financial accounting. The preparation of principal financial statements will also be explored. This module is also designed to introduce you to key management accounting skills necessary to support decision-making.
  • Mathematics for Economists
    This module provides a solid grounding in the theory and application of the mathematical techniques widely used in Economics. Mathematics is the language of economics and the techniques taught in this module form the foundations upon which the material in subsequent years are built. The module begins with revision of basic algebra and then covers: exponents, roots and logarithms; manipulation of algebraic expressions; linear and non-linear functions and more. The module runs over semester 1 and semester 2 in the first year of BSc Business Economics.
  • Macroeconomics I
    This module builds on the brief introduction to macroeconomics provided in Economics for Managers. It aims to introduce the concepts and techniques used in macroeconomics and to develop your ability to use macroeconomic theory to analyse macroeconomic events. The focus of this module is on using theory to understand and explain recent and past macroeconomic events. It provides the macroeconomic foundations for the second year intermediate module Macroeconomics II and the advanced material in the third year. This module largely focuses on the short- and medium-run performance of economies and the insights macroeconomics can offer. We consider the real economy; the monetary system, interest rates and inflation; labour markets and unemployment and construct a model of the economy. This is then used to consider government policies to stabilise the economy – monetary and fiscal policy, budget deficits and government debt and responses to the financial crisis. The exposition is predominantly diagrammatic but will use simple algebra and some differential calculus offering the opportunity to apply the techniques learned in Mathematics for Economists.
  • Microeconomics I
    This module builds on the introductory material covered in Economics for Managers and the techniques learned in the first semester of Mathematics for Economists. It is a prerequisite for Microeconomics II in the second year. The module considers the way in which various decision making units in the economy (individuals and firms) make their decisions. These are fundamental concepts and approaches that underpin much of modern microeconomics. Consumer choice based on utility maximisation is considered in detail and then applied to areas such as labour supply and intertemporal choice. It also considers in detail firms’ input and output decisions based on profit maximisation and cost minimisation. These approaches are then combined to consider a simple general equilibrium model of the economy and provide an overview of the fundamental theorems of welfare economics. By the end of the module you will have a solid grasp of the fundamental ideas and terminology of microeconomics and should be able to apply these ideas to real economic problems. Basic economic models are used to introduce you to analytical methods of reasoning. Applications and mathematical problems are used to enable you to see clearly the interplay of key concepts. The module is assessed by a 45 minute in-class mid-semester unseen examination, and a two hour unseen examination at the end of the module.
  • Business Analytics
    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 in semester one where you’ll be helped to develop further hands-on skills in using such packages in computer workshops. Careful attention is also paid throughout the module to the interpretation and application of the various quantitative methods and techniques to the solution of real-world business problems. Innovative video software is used to support you throughout the module.

Year two, core modules

  • Business Research Methods
    This core module introduces you to the various methods of undertaking business research - vital tools for anyone hoping to pursue a career in business. The module covers a range of qualitative and quantitative research methods. It’s a practical module informed by theory and real-life examples, which’ll help you to explore the philosophical debates underlying business and management research and consider how they relate to our understanding of knowledge and business practice. You’ll be encouraged to develop your ability to critically assess both the theory and practice of business and management research and to reflect on your own learning and development. This module will help you think about a final project and give you confidence in using research methods.
  • Econometrics
    This module provides an introduction to the theory and practice of quantitative economic modelling and the use of empirical methods in economics. It aims to provide a practical grounding in the subject in order to enable you to understand and interpret results published in the applied economics literature and to undertake your own empirical work. It emphasises developing practical experience of working with real economic datasets using a standard econometric package, rather than abstract derivations and proofs. The module is largely based around the classical linear regression model and its estimation by Ordinary Least Squares. The module covers the specification and estimation of basic econometric models, their use for inference, the importance of diagnostic and statistical testing, and interpreting and evaluating your results. The module is assessed by means of an empirical project which applies the econometric techniques learned in the module to an economic dataset (50%) and a one and a half hour final unseen exam (50%).
  • Macroeconomics II
    This module builds on the first year Macroeconomics I module and provide the opportunity to practice and develop the techniques learned in Mathematics of Economists (especially the dynamics considered in the second semester). There are three parts to the module. In the first we revise the ISLM model and extending it to the open economy. We will cover exchange rates models of exchange rate determination in the short- and long-run and alternative exchange rate regimes countries might adopt (including currency unions such as the Eurozone). In the second we consider two important (and volatile) components of Aggregate Demand in detail: Consumption and Investment. Consumption is a very large component of GDP and we will consider theories of consumption such as the consumption function, the life-cycle, permanent income, and random walk hypotheses. Investment is a very volatile component of GDP and the module covers business fixed, residential and inventory investment decisions and behaviour. The final section of the module considers the very long run performance of the economy – economic growth and its impact on economic development. We will cover exogenous and endogenous theories of growth and their implications for policy and development.
  • Microeconomics II
    This module will introduce you to the game theoretic approaches and asymmetric information problems that are the foundation of much modern microeconomics. Strategic behaviour and imperfect information are at the heart of many applied economic problems. The module first introduces risk and decision making under uncertainty. We then consider some standard models of strategic behaviour by firms in oligopolistic markets. The remainder of the module is devote to introducing game theoretic concepts and approaches and applying them to problems of asymmetric information such as moral hazard (unobserved actions), adverse selection (unobserved characteristics), screening and signalling and principle-agent problems. The module is assessed by a 45 minute in-class mid-semester unseen examination, and a two hour unseen examination at the end of the module.
  • International Trade
    Given the importance of global trade, it is essential that we understand the reasons why trade is beneficial, and what influences national success in international markets. This module provides an introduction to the economics of international trade. The module will cover classical and modern theories of trade (including comparative advantage and new trade theory). You will also examine the economic effects of trade policies such as tariffs, subsidies, import quotas, and strategic trade policy. International trade agreements and the role of the World Trade Organisation will also be discussed.

Year two, optional modules

  • Business Law
    This fascinating module will give you an insight and appreciation of the various ways in which the law impacts on the domestic and international business environment. The module will provide a foundation across a broad range of legal issues which you’ll then have the opportunity to develop further by taking specialised law modules in your subsequent studies. The module focuses on the nature and sources of business law, on contract law with regard to both goods and services and on the law of tort, in particular, negligence and vicarious liability. There’ll also be a brief focus on the type of corporate structures and employment relationships that exist in the UK.
  • Project Management
    Project management is a key skill for any future professional to acquire, at some stage in your career you will be involved in delivering or working on a project. This module focuses on providing a sound basis for managing or working on projects. In essence, the concept of managing a project hinging on one quite basic principle, managing the triangle of: quality of the project outcomes, cost and time. In practice, this is a complex juggling act. The module covers: the major process groups of the Project Management Body of Knowledge; the importance of stakeholder and risk management; scheduling and costing; monitoring and controlling techniques, including cost control, time management and resource optimisation; improving the success of projects; and the principles of agile project management. Assessment is by two pieces of coursework: a project schedule and discussion of stakeholders and risks, and a limited time case study problem.
  • Responsible Business
    On this module you will learn about the shift towards more environmentally, socially and economically responsible business practice and in particular focus on the drivers behind this shift. Furthermore, you will explore the concept of global responsibility and citizenship and growing business arguments for including a consideration of sustainability in all business practice. The module examines our increasing recognition that as individuals and businesses we have responsibilities as 'global citizens' in ensuring a more sustainable future. Assessment is an online referenced blog.

Year three, core modules

  • Applied Economics
    This module will equip you with the knowledge and techniques needed to apply economic theory to a current economic or socioeconomic issue. It offers the opportunity to apply the theories covered in Microeconomics II, Macroeconomics II and practice the techniques developed in Econometrics (30 credit). You’ll study a range of applied topics. There’ll also be sessions based around the research areas of lecturers and researchers from Economics, Finance, and the Anglia Ruskin research institutes: the Institute for International Management Practice, and the Global Sustainability Institute. You’ll be exposed to a range of contemporary issues that are of current interest to business, policy makers and their stakeholders. You’ll produce an individual research paper based on one of the areas discussed on the module. The methodology can be econometric or a critical evaluation of secondary data employing economic theory.
  • Career Management and Employability
    This innovative and exciting career-focused module will help you develop the employability skills and capabilities that are needed to compete successfully in the graduate labour market whilst seeking to provide you with knowledge, support and insight into the contemporary world of work and the business market. The module will also develop your skills and is therefore practical and engages you in case study exercise, real-life scenarios, audit and skills testing techniques and invites external guest speakers and employers to provide insight and input. The lectures and seminars will provide key inputs to help introduce you to fundamental employability concepts, insights and techniques, drawn from the world of business and management, but also from other disciplines such as sociology, social psychology and the humanities.
  • Undergraduate Major Project
    Undertaking a Major Project allows you 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, relating to your particular interests and background, although closely linked to our wide range of staff interests and research. You will have many group sessions to support your project, plus the supervision by an academic member of staff. The project also encourages students to share ideas and approaches. The chosen topic will be in your course subject area and require you to identify/formulate problems and issues based on a range of topics provided by conducting a literature review and evaluating information. You will investigate and adopt a suitable desk based methodology and determine solutions, perhaps developing hardware, software and/or media artefacts as appropriate. You will critically appraise and present your findings, reflecting upon the limitations of your research and the research process.

Year three, optional modules

  • Critical Approaches to Economics
    This module offers you the opportunity to explore a range of alternative perspectives on economics and economic activity that exist outside of mainstream economic theory. Heterodox schools of economic thought (Post-Keynesian, Institutionalist, Green and others) differ from mainstream economics because they find mainstream theories unsatisfactory. The module encompasses not only debates from the history of economic thought, but also modern economic debates around economic methodology, philosophy of economics and how various schools of thought address different economic issues and policies. The assessment is two essays: one mid-term and one final.
  • EU Economy: Policy and Issues
    Economic and political aspects of the European Union are explored on this module. You will be introduced to important areas of EU policy affecting, for example, the extent and pace of EU enlargement, the competitiveness of the EU, and migration. This module also explores the reasons for economic integration, and the costs and benefits of the single currency. The EU is constantly evolving and this module will reflect this in its use of contemporary events and current controversies.
  • Behavioural Economics
    This module provides an introduction to the emerging field of behavioural economics which integrates insights from psychology and other social sciences into economic models of behaviour. Economic models typically assume rational and self-interested agents but there is a growing body of empirical evidence challenging these assumptions. This module develops more realistic psychological foundations for economic agents and decision-making, such as cognitive ability, perception of risk, social interaction, emotional responses, etc. Assessment is by one final assignment.
  • Industrial Organisation and Policy
    This module builds on the second year Microeconomics II module. It considers the nature of market power and how that affects firm behaviour and performance. Understanding this is relevant not just to the firms themselves, but has implications for the welfare of consumers and for the design of industrial, competition and regulatory policies. Topics covered include theories of monopoly and oligopoly, measuring market power and concentration, price discrimination and commodity bundling in monopolies, static and dynamic models of oligopoly and product differentiation. We will also consider models of, and possible policy responses to, mergers and horizontal and vertical integration, entry deterrence, predatory pricing, network externalities and pricing in regulated industries.

Assessment

You can expect an interesting mix of coursework, essays, exams and activity-based assignments. Your coursework could include problem-solving activities, consultancy projects, presentations as well as group or individual reports. You'll also be able to access support materials supported by materials accessed through our virtual learning environment (VLE).

All assessment is designed to allow you to demonstrate what you’ve learned, and to make sure you’re developing the knowledge and skills you need to complete the course.


This is a three year programme (or 4 years with placement)

Alongside your core modules you will pick a number of optional modules. Please note that modules are subject to change and availability.


Where you'll study

Your faculty

The Lord Ashcroft International Business School is one of the largest business schools in the East of England, with nearly 100 full-time teaching staff and approximately 6,000 students from more than 100 countries.

Our striking and award-winning business school building in Chelmsford, as well as new buildings in Cambridge, offer the most advanced learning technologies. We’re well-recognised for our centres of excellence by students, employers and professional bodies alike.

What makes us stand out is that our courses don't just give you sound academic knowledge – they’re at the cutting edge of current business practice and highly relevant to employers. This is owing to the close links we have with the business community and the partnerships we've developed with a wide variety of businesses and public service organisations. 

We're interested in people who are confident, ambitious and ready to take the challenge of making a difference in the world of business. If that's you, we'd love to hear from you.

Where can I study?

Cambridge
Lord Ashcroft Building on our Cambridge campus

Our campus is close to the centre of Cambridge, often described as the perfect student city.

Explore our Cambridge campus

Placement year

We want to make sure that you’re fully prepared for an increasingly competitive job market, so we offer a four-year degree option which includes a work placement in the third year. It’s an opportunity to apply and enhance your skills while developing new ones. You’ll also build valuable professional networks.

It could be that you have one placement during Year 3, or you could have two or three, giving you the chance to experience different organisations and working practices. Many of our students find that their placement company hires them when they graduate. We have a specialist team to help you find a placement and support you during this year. You might work in the UK or go abroad: our students have worked at leading organisations such as PricewaterhouseCoopers (PWC), Bosch, BMW, Airbus, BskyB and KPMG. This period of work experience can help set your final-year studies in context and may well help with your dissertation topic. All in all, it’s a fantastic way to stay ahead of the competition.

Studying abroad

You could broaden your horizons by spending time living and studying abroad. This could be a short study visit or a semester spent in Europe, Canada, the USA or Malaysia. It will look great on your CV and help you take advantage of opportunities in the international job market.

 

Fees & funding

Course fees

UK & EU students, 2016/17 (per year)

£9,000

International students, 2016/17 (per year)

£11,000

Fees statement 

Tuition fees for UK/EU students 2017/18 are currently set at £9,000. These fees are regulated by the UK government and may increase in line with government policy. There is a possible increase for the 2017/18 intake of 2.8% which would put the fees at £9,250.


How do I pay my fees?

Tuition fee loan

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Most English undergraduates take out a tuition fee loan with Student Finance England. The fees are then paid directly to us. The amount you repay each month is linked to your salary and repayments start in April after you graduate.

How to apply for a tuition fee loan

Paying upfront

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If you choose not to take out a loan you can pay your fees directly to us. There are two ways to do this: either pay in full, or through a three- or six-month instalment plan starting at registration.

How to pay your fees directly

International students

You must pay your fees up-front, in full or in instalments. You will also be asked for a deposit or sponsorship letter for undergraduate courses. Details will be in your offer letter.

Paying your fees
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Funding for UK & EU students

We offer most new undergraduate students funding to support their studies and university life. There’s also finance available for specific groups of students.

Grants and scholarships are available for:

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Funding for international students

We've a number of scholarships, as well as some fee discounts for early payment.

Entry requirements

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Important additional notes

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. Other equivalent qualifications may be accepted for entry to this course, please email answers@anglia.ac.uk for further information.

We don't accept AS level qualifications on their own for entry to our undergraduate degree courses. However for some degree courses a small number of tariff points from AS levels are accepted as long as they're combined with tariff points from A levels or other equivalent level 3 qualifications in other subjects.

Entry requirements are for September 2016 entry. Entry requirements for other intakes may differ.

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International students

We welcome applications from international and EU students, and accept a range of international qualifications.

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English language requirements

If English is not your first language, you'll need to make sure you meet our English language requirements for undergraduate courses.

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Improving your English language skills

If you don't meet our English language requirements, we offer a range of courses which could help you achieve the level required for entry onto a degree course.

We also provide our own English Language Proficiency Test (ELPT) in the UK and overseas. To find out if we are planning to hold an ELPT in your country, contact our country managers.

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Get more information

UK & EU applicants

01245 68 68 68

Enquire online

International applicants

+44 1245 68 68 68

Enquire online