Module Information
Module Identifier
AB01320
Module Title
Economics, Finance and Accounting for Business
Academic Year
2023/2024
Co-ordinator
Semester
Semester 2
Reading List
Other Staff
Course Delivery
Assessment
| Assessment Type | Assessment length / details | Proportion |
|---|---|---|
| Semester Assessment | Group report (1,500 words) | 30% |
| Semester Assessment | 1 class test – 45 minutes (multiple choice) | 20% |
| Semester Assessment | 1 class test – 45 minutes (seen questions) | 20% |
| Semester Exam | 1.5 Hours | 30% |
| Supplementary Assessment | 1 class test – 45 minutes (seen questions) | 20% |
| Supplementary Assessment | Individual report (1,000 words) | 30% |
| Supplementary Exam | 1 class test – 45 minutes (multiple choice) | 20% |
| Supplementary Exam | 1.5 Hours | 30% |
Learning Outcomes
On successful completion of this module students should be able to:
1. Explain and discuss how markets inter-relate.
2. Describe and discuss how economic theory can apply to real world issues.
3. Explain the purpose of accounting in different types of organisations.
4. Interpret and adjust financial statements of a small company.
5. Explain, contrast and discuss alternative methods of sourcing finance.
6. Describe, explain and illustrate the business finance environment.
Brief description
The module introduces key concepts found in the areas of Economics, Finance and Accounting and to familiarise students with the language of Business.
Key areas include the internal and external Business environment, the operation of markets, sources of finance and the introduction to financial statements and simple accounting transactions.
Key areas include the internal and external Business environment, the operation of markets, sources of finance and the introduction to financial statements and simple accounting transactions.
Content
Content will be delivered through a mix of lectures focused on theory and application as well as more practical sessions using case study examples.
Content will cover:
Introduction to Microeconomics
- Markets and their role in Society
- Demand, Supply and market equilibrium
- Market structure: Perfect Competition, Monopoly,
- Oligopoly
- Income distribution, inequality, poverty and government policy
Introduction to Macroeconomics
- The circular flow of income
- Measuring National Income and Output
- Open Economy and Trade
Accounting
- Introduction to Accounting
- UK business organisations
- Measuring and reporting financial position of a company (Income statements and balance sheets)
Introduction to Finance
- Introduction to Financial Management
- Business Finance Environment
- Sources of Finance
Content will cover:
Introduction to Microeconomics
- Markets and their role in Society
- Demand, Supply and market equilibrium
- Market structure: Perfect Competition, Monopoly,
- Oligopoly
- Income distribution, inequality, poverty and government policy
Introduction to Macroeconomics
- The circular flow of income
- Measuring National Income and Output
- Open Economy and Trade
Accounting
- Introduction to Accounting
- UK business organisations
- Measuring and reporting financial position of a company (Income statements and balance sheets)
Introduction to Finance
- Introduction to Financial Management
- Business Finance Environment
- Sources of Finance
Module Skills
| Skills Type | Skills details |
|---|---|
| Application of Number | Analysis of company reports and other numerical data. |
| Communication | Develop communications skills including discussion and listening skills. Improve literacy skills by reading and writing about marketing. |
| Improving own Learning and Performance | Devise and apply realistic self-learning strategies, review and monitor overall performance, be aware of time management techniques. |
| Information Technology | Use a range of commonly used software packages. Present information and data. Use email /internet appropriately and effectively. |
| Personal Development and Career planning | Students will be able to use the skills learnt in this module to enhance their career opportunities. They will also be aware of the importance of organizing and managing sources of knowledge. |
| Problem solving | Identify problems. Identify factors which might influence potential solutions. Develop creative thinking approaches to problem solving. Evaluate advantages and disadvantages of potential solutions. Construct a rational proposal in response to problem. |
| Research skills | Carry out research into current thinking in the areas of marketing. Identify relevant source material and journal articles for assignments. |
| Subject Specific Skills | Students will be aware of the importance of organizing and managing sources of knowledge and keeping up to date with the latest developments in management and marketing. |
| Team work | Understand the concept of group dynamics, contribute effectively and participate in group discussions and group presentation. |
Notes
This module is at CQFW Level 3