Module Descriptors
ECONOMICS AND LAW FOR MANAGERS
ACCT40310
Key Facts
Digital, Technology, Innovation and Business
Level 4
20 credits
Contact
Leader: Karl Mccormack
Email: K.McCormack@staffs.ac.uk
Hours of Study
Scheduled Learning and Teaching Activities: 52
Independent Study Hours: 148
Total Learning Hours: 200
Pattern of Delivery
- Occurrence A, Stoke Campus, UG Semester 2
- Occurrence B, British University Vietnam, UG Semester 2
- Occurrence C, Disted College, UG Semester 2
- Occurrence D, Guangxi Minzu University, UG Semester 2
- Occurrence E, Asia Pacific Institute of Information Technology Sri Lanka (Colombo), UG Semester 2
- Occurrence F, Asia Pacific Institute of Information Technology Sri Lanka (Kandy), UG Semester 2
- Occurrence G, Asia Pacific Institute of Information Technology Sri Lanka (Colombo), UG Semester 3
- Occurrence H, Asia Pacific Institute of Information Technology Sri Lanka (Kandy), UG Semester 3
- Occurrence I, Asia Pacific Institute of Information Technology Sri Lanka (Colombo), UG Semester 1
- Occurrence J, Asia Pacific Institute of Information Technology Sri Lanka (Kandy), UG Semester 1
- Occurrence K, British University Vietnam, UG Semester 2
Sites
- Asia Pacific Institute of Information Technology Sri Lanka (Colombo)
- Asia Pacific Institute of Information Technology Sri Lanka (Kandy)
- British University Vietnam
- Disted College
- Guangxi Minzu University
- Stoke Campus
Assessment
- ACADEMIC POSTER - 15 MINUTES weighted at 30%
- UNSEEN WRITTEN EXAM - 2 HOURS PLUS 10 MINUTES READING TIME weighted at 70%
Module Details
INDICATIVE CONTENT
You will learn how to apply economics to make informed business decisions through the study of key microeconomic and macroeconomic principles. You will learn to apply economic analysis to different personal, business and societal situations. The knowledge you will gain will be your most reliable guide in the understanding market and firm behaviour, and government decisions.
Economic efficiency, including the coverage of externalities and public goods, will be also studied. Throughout the module, emphasis will be on the application of theory to practical problems and policy issues. The statistics/calculations required for understanding the concepts and models will be integrated into the deliveries.
Introductory Concepts and Principles of Economics, Demand and Supply, Market Equilibrium, Elasticity, Consumer Behaviour, Producer Behaviour, Market Failure, Government Intervention and Market structures: Perfect competition, Monopoly, Oligopoly and Monopolistic Competition
Basic Concepts in Macroeconomics
Topics also include employment law, contract law, intellectual property rights (such as patents and copyright), health and safety, and consumer protection. Introduction to the Legal System, Infrastructure of a business organisation, Discrimination Law, Health and Safety Law and Consumer Law.
Economic efficiency, including the coverage of externalities and public goods, will be also studied. Throughout the module, emphasis will be on the application of theory to practical problems and policy issues. The statistics/calculations required for understanding the concepts and models will be integrated into the deliveries.
Introductory Concepts and Principles of Economics, Demand and Supply, Market Equilibrium, Elasticity, Consumer Behaviour, Producer Behaviour, Market Failure, Government Intervention and Market structures: Perfect competition, Monopoly, Oligopoly and Monopolistic Competition
Basic Concepts in Macroeconomics
Topics also include employment law, contract law, intellectual property rights (such as patents and copyright), health and safety, and consumer protection. Introduction to the Legal System, Infrastructure of a business organisation, Discrimination Law, Health and Safety Law and Consumer Law.
ADDITIONAL ASSESSMENT DETAILS
Group academic poster (15 minutes) (30%) (LO 4). You will be required to plan a presentation for a group with specific needs and deliver the session during class-time.
Exam (2 hours) (70%) plus 10 mins reading time (LOs 1, 2, & 3)
Exam (2 hours) (70%) plus 10 mins reading time (LOs 1, 2, & 3)
LEARNING STRATEGIES
The learning strategy for the module requires students to commit 200 learning hours (including assessment) of which there will be 52 hours of tutor-led learning and 148 hours of independent and self-directed study.
Concepts, theories and principles will be explored, practised and demonstrated. Practical skills enhanced by recommended videos and talks. LinkedIn Learning will be used to direct self-study learning throughout the study block. Cognitive and personal skills developed in open-ended problem-solving exercises. Oral feedback will be given during sessions. The assessment will examine the wider learning outcomes expressed in the descriptor.
You will undertake ‘formative’ assessments during the module to help you monitor your learning and provide you and us with ongoing feedback on your progress, that helps you prepare for the ‘summative assessment(s) during or at the end of the module.
Concepts, theories and principles will be explored, practised and demonstrated. Practical skills enhanced by recommended videos and talks. LinkedIn Learning will be used to direct self-study learning throughout the study block. Cognitive and personal skills developed in open-ended problem-solving exercises. Oral feedback will be given during sessions. The assessment will examine the wider learning outcomes expressed in the descriptor.
You will undertake ‘formative’ assessments during the module to help you monitor your learning and provide you and us with ongoing feedback on your progress, that helps you prepare for the ‘summative assessment(s) during or at the end of the module.
LEARNING OUTCOMES
1. Demonstrate knowledge and understanding of key economic concepts and principles.
Knowledge & Understanding, Learning.
2. Understand and apply basic statistics and understand how these can be important for economic analysis.
Analysis and Application.
3. Apply economic analysis to different business and/or societal situations.
Problem Solving & Application.
4. Evaluate and analyse arguments and scenarios and apply the law, drawing reasoned conclusions.
Analysis and Application.
Knowledge & Understanding, Learning.
2. Understand and apply basic statistics and understand how these can be important for economic analysis.
Analysis and Application.
3. Apply economic analysis to different business and/or societal situations.
Problem Solving & Application.
4. Evaluate and analyse arguments and scenarios and apply the law, drawing reasoned conclusions.
Analysis and Application.
RESOURCES
Module Study Guide and Handbook
The University Library and Learning Resources - Books and Academic Journals
The Module VLE
Learning Support Materials and Booklets
Internet
Directed Video Sources (Own and 3rd Party)
The University Library and Learning Resources - Books and Academic Journals
The Module VLE
Learning Support Materials and Booklets
Internet
Directed Video Sources (Own and 3rd Party)
REFERENCE TEXTS
Gillespie, A. (2016). Foundations of Economics ¿ Fourth edition. New York: Oxford University Press.
Sloman, J. and Garratt, D. (2016). Essentials of Economics. 7th edition. London: Pearson Education.
Parkin, M., Powell, M., & Matthews, K. (2017). Essential Economics: European Edition. Essex, UK: Pearson
Business Law by David Kelly, Ruby Hammer, and John Hendy, 3rd Edition; Routledge, 2017
Business Law by Ewan MacIntyre. 9th Edition; Pearson, 2018
Business Law by James Marson and Katy Ferris, OUP Oxford, 2016
To develop an interest in economics and enhance the chance of success, the following websites are recommended for obtaining updated news:
www.bbc.co.uk/news/business
www.theguardian.com/uk/business
www.timesonline.co.uk
www.ft.com
www.economist.com
www.independent.co.uk
www.businessweek.com
Sloman, J. and Garratt, D. (2016). Essentials of Economics. 7th edition. London: Pearson Education.
Parkin, M., Powell, M., & Matthews, K. (2017). Essential Economics: European Edition. Essex, UK: Pearson
Business Law by David Kelly, Ruby Hammer, and John Hendy, 3rd Edition; Routledge, 2017
Business Law by Ewan MacIntyre. 9th Edition; Pearson, 2018
Business Law by James Marson and Katy Ferris, OUP Oxford, 2016
To develop an interest in economics and enhance the chance of success, the following websites are recommended for obtaining updated news:
www.bbc.co.uk/news/business
www.theguardian.com/uk/business
www.timesonline.co.uk
www.ft.com
www.economist.com
www.independent.co.uk
www.businessweek.com
WEB DESCRIPTOR
You will learn how to apply economics to make informed business decisions through the study of key microeconomic and macroeconomic principles. You will learn to apply economic analysis to different personal, business and societal situations. The knowledge you will gain will be your most reliable guide in the understanding market and firm behaviour, and government decisions.