Business Economics BSc (Hons)

Develop the skills and knowledge necessary to undertake independent research. In this module, you will be introduced to data analysis using econometrics, with an emphasis on principles and applications of the Classical Linear Regression Model and violations of its underlying assumptions. Using global economic and financial data, this module explores statistical techniques of descriptive analysis, estimation, hypothesis testing and modelling. Emphasis is placed on the understanding and interpretation of quantitative results for economic and financial decision-making.

You will formulate fitting research objectives and select appropriate methodologies to develop your competence in designing and evaluating successful qualitative and quantitative research projects. Through experimentation on diverse data sources, you should elevate your analytical and reflective abilities, preparing you for contemporary data-driven challenges.

Compulsory

The module aims to build upon your understanding of microeconomics. It introduces intermediate level microeconomic concepts and provide examples of their real-world applications. In particular, the module will enable you to define and critically apply various analytical methods to complex problem solving in terms of firms, government, and individual decision-making. By considering the relevance and limitations of intermediate microeconomic theory as applied to labour economics, behavioural economics and industrial organisations, it provides the underpinning for subsequent study in economics.

Compulsory

This module aims to deepen and widen your understanding of macroeconomics at an intermediate level. It provides you with a thorough grounding in intermediate principles of macroeconomics as well as an appreciation of the potential applications of the analytical techniques, their limitations, and critiques.

Compulsory

This module explores managerial economics, focusing on how firms and managers make strategic decisions in a dynamic business environment. Learn the analytical tools and economic principles needed to solve complex business problems and enhance decision-making processes.

Expanding beyond the fundamentals, this module integrates microeconomic theory with real-world business applications, covering topics such as market structures, pricing strategies, risk management and competitive dynamics. It emphasises decision-making under uncertainty, strategic interactions and the role of economic analysis in business strategy and policy formulation.

Examine how managerial economics applies in international markets, addressing challenges such as global competition, regulatory environments and economic fluctuations. Through case studies and applied analysis, develop the skills to evaluate business decisions critically and apply economic reasoning to real-world managerial challenges.

Compulsory

This module² provides you with an opportunity to reflect upon and gain experience for an approved placement undertaken during your programme. A placement should usually be at least 26 weeks or equivalent; however, each placement will be considered on its own merits, having regard to the ability to achieve the learning outcomes.

Optional

This module² provides you with an opportunity to reflect upon and gain experience for an approved international study/work placement undertaken during your programme. A work/study placement should usually be at least 26 weeks or equivalent; however, each placement will be considered on its own merits, having regard to the ability to achieve the learning outcomes.

Optional

Gain advanced knowledge and analytical skills in both microeconomic and macroeconomic theory, preparing you to tackle complex economic challenges.

During the microeconomics component of this module, you will explore game theory and its economic applications, examining strategic interactions, rational decision-making and competitive behaviour among consumers, firms and governments. You will also critically evaluate the role of experimental and behavioural approaches in refining traditional game-theoretic models.

During the macroeconomics component of this module, you should gain an in-depth investigation of modern macroeconomic approaches, grounded in microfoundations and dynamic general equilibrium models. Develop a critical understanding of contemporary macroeconomic theories and their policy implications, particularly in areas such as monetary and fiscal policy, economic fluctuations and long-term growth.

By integrating theoretical insights with real-world applications, this module aims to enhance your quantitative reasoning, problem-solving and policy evaluation skills, preparing you for roles in economic research, policy analysis and financial decision-making.

Compulsory

This module is your chance to apply the knowledge and insights learnt on the course. It aims to develop you into an independent and ethical researcher. You will conduct a research project related to your course to evidence your intellectual, technical and analytical skills. You will receive personalised support and guidance from a supervisor and benefit from critical discussions and cross-fertilisation in group supervision sessions.

Compulsory

Gain an in-depth analysis of the theory of industrial organisation and its critical role in shaping business strategy. Explore the theory of the firm, including the determinants of market structure, pricing strategies, barriers to entry and competitive behaviour. The module covers key business strategy decisions including product differentiation, quality signalling, innovation, mergers and acquisitions, and compatibility strategies.

Additionally, the module analyses the impact of government regulations and competition policy on business decisions. It integrates real-world business case studies from the UK and international markets, helping you to apply economic analysis to contemporary business and policy challenges.

Compulsory

Choose one of the following two:

• AI-Enhanced Further Econometrics – 30 credits
  

  Enhance your understanding of advanced econometric models and artificial intelligence-assisted (AI) data analysis techniques relevant to empirical research and policy evaluation in macroeconomics and microeconomics. Gain the knowledge and technical skills needed to design, implement and critically evaluate empirical work, incorporating AI-driven analytical tools to improve efficiency and accuracy in economic and financial modelling.

  Explore econometric techniques such as time series analysis, panel data models and structural equation modelling while utilising AI-powered tools to enhance data analysis and reporting. This module emphasises practical application and should develop your ability to interpret and communicate quantitative findings for real-world decision-making.

• Labour and Digital Economics – 30 credits
  This module explores labour economics in the digital age, examining how technological advancements, automation and platform economies are reshaping the world of work. It builds on microeconomic and macroeconomic principles, applying them to the labour market while integrating insights from digital economics. You will analyse key labour market issues, including labour supply shortages, wage structures, incentive mechanisms and workplace discrimination. You will also examine how digital transformation, AI, gig economies and remote work impact employment trends, productivity and job security. Through theoretical models, empirical analysis and case studies, develop a critical understanding of the evolving relationship between technology and labour markets, helping to equip you with the skills to assess policy responses and business strategies in a rapidly changing economic landscape.

Optional