Business Economics Module Overview 2024-25

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Questions and Answers

What is the main focus of the module in Business Economics?

Understanding marketing strategies

Learning statistical analysis techniques

Exploring investment opportunities

Discussing core business economics concepts (correct)

Who will be leading the session in the first week of the module?

An academic advisor

Assaad Dib (correct)

Dr. Julia Hudson

A guest lecturer

What is one of the learning outcomes of the module?

Describing the course's delivery structure (correct)

Identifying historical economic models

Analyzing consumer behavior

Evaluating the impact of global economies

What is a key component of the module specifications?

Module credits and deadlines Signup and view all the answers

What academic year is the Business Economics module outlined for?

2024-25 Signup and view all the answers

Which of the following is NOT part of the module overview?

Icebreaker activities Signup and view all the answers

What is described as the 'secret to your success' in the module?

Understanding specification details Signup and view all the answers

What is the credit value of the Business Economics module?

20 credits Signup and view all the answers

What type of support does Oxford Business College emphasize for each student?

Personalized approach Signup and view all the answers

What is included in the Academic and Professional Development support at Oxford Business College?

Personal tutorials and mentor system Signup and view all the answers

What is a primary purpose of collecting personal data from students at Oxford Business College?

To consider mitigation or extension requests Signup and view all the answers

Which of the following services is NOT listed as available for students facing personal or mental health issues?

Academic courses on mental health Signup and view all the answers

What resource allows students at Oxford Business College to access over 1 million books?

Perlego Signup and view all the answers

What does price elasticity measure?

The effect of changes in price on demand. Signup and view all the answers

What is the primary goal of cost management in businesses?

To maximize profit through cost-benefit analysis. Signup and view all the answers

What does the balance of payments track?

A country's transactions with the rest of the world. Signup and view all the answers

How is securitization defined?

The conversion of assets into marketable securities. Signup and view all the answers

Which tool is commonly used in fiscal policy?

Government spending and tax policies. Signup and view all the answers

What are common causes of inflation?

Increased demand for goods and services. Signup and view all the answers

What role do exchange rates play in international trade?

They affect the cost of exporting and importing goods. Signup and view all the answers

What expectation is placed on students regarding seminar attendance?

Attend all seminar sessions. Signup and view all the answers

What is a primary aim of the module related to the economic environment?

To develop awareness of the economic environment Signup and view all the answers

Which analytical tool is emphasized for evaluating business opportunities?

Appropriate analytical tools for identifying opportunities Signup and view all the answers

What is the focus of the topic on market structures within the module?

Examining various market structures like monopoly and oligopoly Signup and view all the answers

What does the module aim to teach regarding economic frameworks?

To apply economic frameworks to business strategies Signup and view all the answers

Which aspect is critical when assessing the significance of economic data?

Using appropriate techniques for business strategies Signup and view all the answers

What is required for effective communication of complex economic issues according to the module?

Articulation and effective communication skills Signup and view all the answers

What is the primary topic of the 'Demand Supply and Equilibrium' section?

Concepts of demand and supply and their market equilibrium interactions Signup and view all the answers

What skills does the module aim to develop in the context of economic analysis?

Transferable knowledge and key skills in economic analysis Signup and view all the answers

What is the weight of Summative Assessment 1 towards the total module grade?

50% Signup and view all the answers

What percentage of the written report should be allocated to the Economic Analysis - Employment section?

25% Signup and view all the answers

Which of the following is NOT a focus area for Assessment 2?

Marketing Strategies Signup and view all the answers

When will formative feedback on draft submissions for Assessment 2 be provided?

Week 12 Signup and view all the answers

How long after submission will feedback for Summative Assessment 1 be provided?

Within 15 working days Signup and view all the answers

What is the format of Summative Assessment 2?

A written report Signup and view all the answers

Which learning outcomes are assessed in Summative Assessment 1?

LO1, LO2, LO4 Signup and view all the answers

What type of assessment is the online in-class test classified as?

Summative Assessment Signup and view all the answers

What is included in the overall structure and presentation marking criteria?

Referencing and academic writing Signup and view all the answers

Which week is designated for the mock exam in the assessment support schedule?

Week 7 Signup and view all the answers

Study Notes

Module Overview

Module delivered by Assaad Dib, replacing Dr. Julia Hudson
20 credits, Level 5, Academic Year 2024-25
Oxford Business College

Module Aims

Understand the economic environment of businesses locally, nationally, and globally
Develop transferable knowledge and skills in economic analysis
Apply techniques and methodologies to analyze economic data and information
Recognize the role of international institutions and governments in global business

Module Learning Outcomes

Analyze and evaluate economic frameworks and their role in business
Apply appropriate analytical tools for identifying opportunities
Critically assess government's role in the economic arena
Use economic data in a business context
Communicate information about economic and political issues effectively

Module Topics

Business Environment: Competition, regulations, trends
Economics and Organizations: Relationship between economics and how organizations operate
Main Market Structures: Perfect competition, monopoly, oligopoly, and their business impact
Demand, Supply and Equilibrium: How demand and supply interact to establish market equilibrium
Price and Income Elasticity: The impact of price and income changes on demand
Costs and Profit Maximisation: Cost-benefit analysis and efficiency maximizing profit
Flow of Income and Balance of Payment: Tracking income flow and transactions with the rest of the world
Money and Securitisation: Money's role in an economy and the process of turning assets into securities
Inflation and Unemployment: Causes, effects, and solutions for inflation and unemployment
Monetary and Fiscal Policy: Tools and strategies by governments to influence the economy
International Trade and Exchange Rate: Exchange rate’s role in international trade

Expectations of Tutors

Effective communication through emails
Learning materials available on UWLFlex
Providing assessment marks and feedback within 15 working days

Expectations of Students

Attend all seminar sessions
Participate and prepare for activities
Engage in group presentations and collaborative activities
Communicate about absence via email before a seminar

Student Conduct

Professional behavior in all classes and no disruption
Submit all assessments on time, taking into account exceptional circumstances

Assessment Overview

Formative assessment
Summative Assessment 1: Online in-class test
Summative Assessment 2: Written report

Summative Assessment Details

Ongoing feedback during class discussions
General revision sessions and mock exams
Formative feedback on draft submissions for Assessment 2

Assessment 1: Multiple Choice Question Test

Online in-class test
Week 8 or 9 during seminar time
Assesses Learning Outcomes 1, 2, and 4
50% of total module grade
Feedback within 15 working days

Assessment 2: Written Report

Topic: Economic analysis of Covid-19 impact on a selected business industry
Focus areas: Employment, technology, and international trade
Assesses Learning Outcomes 1, 2, 4, and 5
50% of total module grade
Week 14 submission via Online Submission (Turnitin)
1,500 words (+-10%) report

Assessment 2 Report Structure

Executive Summary (5%): Key findings overview
Introduction (10%): Context and background of chosen industry
Economic Analysis - Employment (25%): Covid-19 impact on employment patterns
Economic Analysis - Technology (25%): Technological adaptations in response to Covid-19
Industry Expansion and International Trade (25%): Growth possibilities and relevance to global markets
Conclusion and Recommendation (10%): Summary of findings and suggested strategies
Overall Structure and Presentation (5%): Referencing and academic writing

Assessment Support Schedule

Week 6: General Revision, no preparation needed
Week 7: Mock exam, follow revision guide
Week 11: General Revision, no preparation needed
Week 12: Submit draft of Assessment 2 for formative feedback

Learning Materials

Reading Lists: Available on Blackboard and online through Oxford Business College reading lists
Online Library: Use Perlego for unlimited access to books (contact Salvena Hussein)
Campus Facilities: Utilize campus libraries and IT labs

Oxford Business College Support

Personalized approach: Every student is an individual
Comprehensive support: Positive learning experience from inquiry to completion
Development Opportunities: Academic and Professional Development (APD) support, including tutorials, mentoring and pastoral care
Welfare Services: Counselling and welfare services available for personal, mental health issues, or any issue affecting studies and wellbeing

Studying That Suits You

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Description

This quiz covers the essential concepts of the Business Economics module by Assaad Dib for the academic year 2024-25. You'll explore the importance of understanding the economic environment at local, national, and global levels, alongside analyzing the role of international institutions. Prepare to apply economic frameworks and critical analysis in a business context.