Economic Environment in Business Analysis

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Questions and Answers

What is an essential skill developed through understanding economic frameworks?

Human resources management

Creative problem-solving

Technological proficiency in data analysis

Critical evaluation of economic strategies (correct)

What is expected from students regarding attendance?

Only attend if assignments are due

Attend at least half of the seminar sessions

Attendance is optional for non-assessment activities

Attend all seminar sessions (correct)

What must students do in case of an absence?

Communicate the absence via email before the seminar (correct)

Inform a classmate to relay the message

Assume the seminar will be recorded

Make up the session independently later

What does formative assessment provide to students?

Ongoing, feedforward guidance on assessment Signup and view all the answers

What is a characteristic of professional behavior expected in classes?

Behaving in a way that does not disrupt others' learning Signup and view all the answers

What percentage of the total module grade is Assessment 1 worth?

50% Signup and view all the answers

Which learning outcomes are assessed in Assessment 1?

LO1, LO2, LO4 Signup and view all the answers

What is the main topic for Assessment 2?

Economic analysis of Covid-19 impact on a selected business industry Signup and view all the answers

How many weeks after submission will feedback for Assessment 1 be provided?

15 working days Signup and view all the answers

What percentage of the written report in Assessment 2 is dedicated to the Economic Analysis - Employment section?

25% Signup and view all the answers

When is the mock exam scheduled in the assessment support schedule?

Week 7 Signup and view all the answers

What is the word count requirement for Assessment 2?

1500 words (+-10%) Signup and view all the answers

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

Market competition analysis Signup and view all the answers

What is one consequence of failing to uphold academic integrity?

Potential penalties under the Academic Offences Regulations Signup and view all the answers

Which service allows students to submit coursework up to 10 calendar days late without penalty?

Extension Signup and view all the answers

Which of the following is considered a form of academic misconduct?

Using AI-generated content without acknowledgment Signup and view all the answers

What resource provides unlimited access to over 1 million books for students?

Perlego platform Signup and view all the answers

Which of the following best describes the mission statement of Oxford Business College?

To deliver the most positive learning experience for each learner Signup and view all the answers

What does self-certification allow students to do?

Submit three assessments without evidence annually Signup and view all the answers

Who among the following is NOT part of the academic support team?

Welfare Officers Signup and view all the answers

What type of personalized support does Oxford Business College offer to students?

Individualized personal tutorials Signup and view all the answers

Which of the following statements about plagiarism is accurate?

It entails submitting work that is not your own without proper acknowledgment. Signup and view all the answers

Which service is part of the welfare services provided by Oxford Business College?

Counselling for mental health issues Signup and view all the answers

How does Oxford Business College ensure the privacy of students' personal data?

Retaining data solely for mitigation or extension purposes Signup and view all the answers

What type of development opportunities does Oxford Business College provide to its students?

Academic and Professional Development support Signup and view all the answers

What is one resource available to students for academic support at Oxford Business College?

Perlego for unlimited access to books Signup and view all the answers

Study Notes

Module Aims

Develop awareness of the economic environment in which businesses operate at local, national and international levels.
Gain transferable knowledge and key skills in economic analysis.
Learn about the methodologies used to analyze information and synthesize data about the economic environment.
Understand the role of international institutions and national governments in the global business arena.

Learning Outcomes

Analyze and critically evaluate economic frameworks and their role in developing business strategies.
Define and apply analytical tools for business opportunity identification and development.
Critically evaluate a government’s role in the economic arena.
Assess the significance of economic data within the business environment.
Communicate complex economic and political issues effectively.

Module Topics

Business Environment: Examines the complex environment surrounding businesses including competition, regulations, and market trends.
Economics and Organisations: Examines the relationship between economics and how organizations operate including decision-making and resource allocation.
Main Market Structures: Discusses various market structures, including perfect competition, monopoly, and oligopoly, and their impact on businesses.
Demand Supply and Equilibrium: Examines the concepts of demand and supply, including how they interact to establish market equilibrium.
Price Elasticity and Income Elasticity: Explores price and income elasticity, measuring how changes in price and income affect demand.
Costs and Profit Maximisation: Delves into the calculation and management of costs, aiming to maximize profit through cost-benefit analysis and efficiency.
Flow of Income and Balance of Payment: Analyzes the flow of income within an economy and the balance of payments, tracking a country's transactions with the rest of the world.
Money and Securitisation: Introduces money's role in an economy, including the process of securitization, transforming assets into marketable securities.

Expectations of Tutors

Communicate relevant information about the module via email.
Make lecture materials and seminar activities available on UWLFlex before scheduled seminar time.
Provide assessment marks and relevant feedback on submitted work within 15 working days after submission.

Expectations of Students

Attend all seminar sessions.
Participate and prepare for all seminar activities as instructed.
Engage in group presentations and collaborative activities.
Communicate any absence via email before a scheduled seminar time.

Student Conduct

Behave professionally in class and avoid disrupting the learning experience of others.
Attempt and submit all assessments within the deadline with consideration for any exceptional circumstances.

Assessment Overview

Formative Assessment: Designed to provide feedback and support during the course.
Summative Assessment 1: Online multiple-choice question test covering learning outcomes 1, 2, and 4.
Summative Assessment 2: Written report that focuses on the economic analysis of the Covid-19 impact on a selected business industry, assessing learning outcomes 1, 2, 4, and 5.

Summative Assessment: Preparation

Formative Feedback: Ongoing feedback and guidance will be provided on assessment topics discussed in class.
Assessment Support: General revision sessions and mock exams will be provided to help students prepare.
Feedback on Drafts: Formative feedback will be provided on draft submissions for Assessment 2 during seminars.

Assessment 1: Multiple-Choice Question Test

Format: Online In-class Test
Timing: Week 8 / 9 (during the seminar time)
Learning Outcomes Assessed: LO1, LO 2, LO4
Weighting: 50% of total module grade
Feedback: Within 15 working days after submission

Assessment 2: Written Report

Topic: Economic analysis of Covid-19 impact on a selected business industry.
Focus Areas: Employment, technology, and relevance for international trade.
Learning Outcomes Assessed: LO1, LO 2, LO4, and LO5.
Weighting: 50% of total module grade.
Submission: Week 14 via Online Submission (Turnitin).
Format: 1500 words (+-10%) written report.

Assessment 2: Report Structure

Executive Summary (5%): Brief overview of the report's key findings.
Introduction (10%): Context and background of the chosen industry.
Economic Analysis - Employment (25%): Impact of Covid-19 on employment patterns in the industry.
Economic Analysis - Technology (25%): Technological adaptations in response to Covid-19.
Industry Expansion and International Trade (20%): Possibilities for growth and relevance to global markets.
Conclusion and Recommendation (10%): Summary of findings and suggested strategies.
Overall Structure and Presentation (5%): Including proper referencing and academic writing.

Assessment Support Schedule:

Week 6: General Revision: No prior preparation needed.
Week 7: Mock Exam: Follow revision guide.
Week 11: General Revision: No prior preparation needed.
Week 12: Formative Feedback: Submit draft of Assessment 2.

Learning Materials:

Reading Lists: Available on Blackboard in the module area and online by searching “reading lists.”
Subject Guides: Available to help find relevant information for assignments and provide contact details for the Subject Librarian.
Online Library - Perlego: Access to over 1 million books.
Campus Libraries and IT Labs: Physical resources available for student use on campus.

Academic Integrity:

Definition: Academic Integrity means avoiding plagiarism and cheating and owning your own work.
Plagiarism: Submitting work that is not completely your own without acknowledging the author or properly referencing the original source.
Essay Mills and AI Content: Using essay mills and AI content is also considered academic misconduct.
Consequences: Penalties, including a failing grade, may be applied for academic misconduct.

Meeting Deadlines:

On-Time Submission: Always submit work on time.
Extension: Allows submission of coursework up to 10 calendar days late without penalty.
Mitigation: Allows a further attempt without penalty if you fail an assessment or do not submit it.
Self-Certification: You can self-certify three assessments per academic year without providing evidence.

Getting Support:

Academic Support: Personal Tutors, Module Leaders, Subject Librarians, and Course Leaders.
Student Support: Counselling services, Welfare officers, and Mental health support.
Additional Resources: UWLSU & OBC Advice Service, Online support resources, Student Hub.

Oxford Business College Support:

Personalized Approach: Takes pride in providing individualised support to students.
Comprehensive Support: Staff are committed to providing a positive learning experience from inquiry to course completion.
Development Opportunities: Offers academic and professional development (APD) support, incluyendo personal tutorials, a mentor system, and pastoral care.
Welfare Services: Counselling and welfare services are available for personal, mental health or other issues affecting studies and wellbeing.

Data Protection:

Personal Data Use: Personal data collected on forms will be used for considering mitigation and extension and will be retained on file.
Support Identification: Information may be used to identify support or services that would be beneficial.
Information Sharing: Information provided will not be shared beyond those processing mitigation or extension request.
Privacy Notice: For further information, review the Privacy notice for students available at uwl.ac.uk/about-us/policies-andregulations/privacy-and-data-protection.

Additional Resources:

Reading Lists: Access module-specific reading lists on Blackboard.
Online Library: Use Perlego for unlimited access to over 1 million books.
Campus Facilities: Utilize campus libraries and IT labs for studies.
Support Services: Access various support services for academic and personal guidance.

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Description

This quiz explores the multidimensional economic environment in which businesses operate, focusing on local, national, and international levels. It covers economic frameworks, analytical tools, and the influence of government and international institutions on business strategies. Enhance your understanding of how economic data shapes decision-making in the business world.