ECO702 (66133) Economics and the Business Environment Module Handbook S2 2024/25

Published: 30 Aug, 2025
Category Assignment Subject Economics
University Ulster University Module Title ECO702 Economics and the Business Environment

ECO702 Handbook 2025

ECO702 Handbook 2025

Module Details

Module Title

Economics and the Business Environment

Module Code

ECO702

Module Level

7

Credit points

15

Module Status

Core Core

Semester

 2

Location

Belfast, Birmingham, Manchester, London

Delivery Mode

Face-to-face

Contact Details and Communication Methods

Module Leader

Emmanuel Agboola (See cover sheet above for contact details)

Teaching Staff Contact Details

Akin Sharimakin (Akinsehinwa.Sharimakin@qa.com) Birmingham Campus

Dalene Matthew (Dalene.Matthews@qa.com) London Campus

Abu Mahmud (Abu.Mahmud@qa.com) Manchester Campus  

General Information, Queries and Consultations

If you require advice on any aspect of the module, please read the guidance provided here, in the Module Handbook.

For General Queries, please utilise the class Discussion Board. For Specific Queries or studies advice, you can avail of the ‘Virtual Office Hours.’ Please contact Dr. Emmanuel Agboola if you have questions relating to the module or wish to schedule an appointment. Please note, we aim to respond to emails within 48 hours during the working week.

Module Announcements

Key announcements will be presented during tutor-led activities.

Out of class communication including notifications, reminders, etc will be distributed via the Blackboard Announcement tool. You will receive a duplication of the announcement direct to your student email inbox. It is essential that you check your emails regularly.

It also advisable that you download the ‘Blackboard’ App as an alternative to access these announcements, notifications, and reminders as well as content.

1. Module Overview and Communication

2. Sustainable Development Goals (SDGs) and Graduate Attributes (GAs) in your module

Sustainable Development Goals (SDGs)

The UN SDGs are a comprehensive set of global goals to end poverty, protect our planet, and improve living conditions of the Global Population. You are encouraged to think critically and reflect on SDGs in the context of this module.

The following SDGs are relevant in the context of this module: 

ECO702 Economics and the Business Environment

Graduate Attributes (GAs)

ECO702 Economics and the Business Environment

3. Aim and Learning Outcomes

Module Rationale

This module examines the internal and external environments within which firms must operate and helps managers to audit their business environment to establish a strategic approach to their business activity.

Overall Aim of the Module 

To introduce managers to the principles of economics as they apply to the business environment. The aim is to enhance mangers' understanding of, and ability to adapt to, changes in the environments in which they operate.
To develop systematic analytical techniques based on rigorous economic principles.

  • To focus on the application of economic methodology to solving practical problems.
  • To integrate economics to the business environment. 

Learning Outcomes

What you should be able to do by the end of this module?

Successful participants will be able to:

  1. Describe fundamental concepts in Economics, and understand the key elements of the economic environment, micro, macro and international, within which businesses operate.
  2. Analyze and assess developments that shape the business environment and the impact of these on managerial decision making.
  3. Appreciate and understand the economics underlying the decisions that business managers make and the effects of business decisions on a number of key stakeholders
  4. Apply economic reasoning to a range of business decisions and contemporary economic issues/problems.

4. Assessment and Feedback 

What you need to do to demonstrate achievement of learning?

Summary Assessment Information

This module will be assessed via two items of assessment

Type / Element

Assessment method

Submission date, time and submission method

Percentage (%) and word count equivalent

Feedback due date

Element 1

Coursework 1

2–Hours constrained time assessment takes place during class time in Week 8, W/C 28th July 2025. This will be delivered during the usual time-tabled session in Week 8.

In-class Open Book Test. 

50%

(1500 words equivalent)

20 working days post submission date (via Blackboard Ultra)

Element 2

Coursework 2 

Written assignment, to be submitted by noon on Friday 29th August 2025.

 

50%

(1500 words equivalent)

20 working days post submission date (via Blackboard Ultra)

Assessment Guidance

  1. Word count includes the title page, contents page, in-text references and citations but excludes tables, reference list and appendices.
  2. Your work should include references to relevant journal articles and other good quality information sources and should be properly laid out using the Harvard system of referencing. More detailed guidance is available in the Subject Guides. We encourage you to make good use of all the support services offered by your Campus Librarian, further details are in the Learning Support Services Section. 
  3. You should refer to the assessment criteria to provide fuller details of the marking criteria for each classification band.
  4. In addition, you should refer to the standard assessment guidelines as presented in your Course Handbook/Support Area, this includes guidance and policies on referencing style, plagiarism, etc.
  5. We recommend the use of Studiosity which offers constructive feedback on draft written submissions within 24 hrs.  
  6. Coursework must be submitted by the dates specified. Coursework submitted after the deadline, without prior approval, is not normally accepted. For further guidance on the late submission of coursework, please see the course handbook.
  7. Assessments must be submitted as per the assessment brief. 

Please note: Words in excess of +10% of the word count will not be marked.

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Coursework 1

Assessment Task

Coursework 1 – BRIEF

a)The assignment may take the form of an individual:
i)Written in-class test
b)Detailed assessment guidance will be made available in your Blackboard Module Assessment Folder.
c)Completed assignments must be submitted in class following the summary assessment information provided above. 
d)All submitted assignments should have the file name:
i)"SurnameFirstNameBNumber" 
ii)e.g. BrownJohnB00001234_AssignmentOne.

Coursework 1 – FEEDBACK

Feedback on the assessment will be provided via Blackboard and inclass in Week 9. 

Coursework 1 – ASSESSMENT RUBRIC/MARKING PROFORMA

% Range

Analysis and Synthesis of Content (30%)

Application of Economic Theory and Models (30%)

Evidence of Reading and Referencing (15%)

Academic and Professional Skills: (15%)

70-100

Distinction

Critical insightful evaluation and synthesis of complex issues. Demonstrating exceptional knowledge and a high level of originality and reflection.

Extensive evidence of advanced applications and empirical results.

Extensive evidence of integrating supplementary sources. Outstanding referencing.

Outstanding, well-directed presentation, logically and coherently structured, using correct grammar, spelling and citation.

60-69

Commendation

Critical evaluation and synthesis of complex issues.  Demonstrating wide knowledge of material which includes an original and reflective approach.

Clear evidence of advanced applications and empirical results.

Good evidence of integrating supplementary sources. Comprehensive referencing.

Excellent presentation, logically structured, using correct grammar, spelling and citation.

50-59

Pass

Some critical evaluation and synthesis of complex issues and material.  Demonstrating appropriate knowledge of material and key issues.

Evidence of advanced applications and empirical results.

Evidence of reading appropriate supplementary sources. Adequate referencing.

Orderly presentation, clear structure, using acceptable grammar, spelling and citation.

45-50

Marginal Fail

Limited evaluation and synthesis of issues and material. Limited of superficial knowledge.

Limited evidence of advanced applications and empirical results.

Limited evidence of reading appropriate supplementary sources. Inadequate referencing.

Weak presentation, structure, grammar, spelling and citation.

<45

Fail

Little or no evidence of relevant knowledge.

Little or no evidence of applications and empirical results.

Little evidence of reading appropriate supplementary sources.

Poor presentation, structure, grammar, spelling and citation.

Coursework 2

Assessment Task

Essay Questions

Coursework 2 – BRIEF

a)The assignment may take the form of an individual:
i)word-processed report.
b)Detailed assessment guidance will be given during seminars.
c)Completed assignments must be submitted in Word format via the Turnitin Dropbox in your Blackboard Course Area by the specified date and time outlined in the Key Assessment Information Table above. 
d)All submitted assignments should have the file name:
i)"SurnameFirstNameBNumber" 
ii)e.g. BrownJohnB00001234_AssignmentOne.

Coursework 2 – FEEDBACK

Written feedback on the assessment will be provided via Blackboard. 

Coursework 2 – ASSESSMENT RUBRIC/MARKING PROFORMA

% Range

Analysis and Synthesis of Content (30%)

Application of Economic Theory and Models (30%)

Evidence of Reading and Referencing (15%)

Academic and Professional Skills: (15%)

70-100

Distinction

Critical insightful evaluation and synthesis of complex issues. Demonstrating exceptional knowledge and a high level of originality and reflection.

Extensive evidence of advanced applications and empirical results.

Extensive evidence of integrating supplementary sources. Outstanding referencing.

Outstanding, well-directed presentation, logically and coherently structured, using correct grammar, spelling and citation.

60-69

Commendation

Critical evaluation and synthesis of complex issues.  Demonstrating wide knowledge of material which includes an original and reflective approach.

Clear evidence of advanced applications and empirical results.

Good evidence of integrating supplementary sources. Comprehensive referencing.

Excellent presentation, logically structured, using correct grammar, spelling and citation.

50-59

Pass

Some critical evaluation and synthesis of complex issues and material.  Demonstrating appropriate knowledge of material and key issues.

Evidence of advanced applications and empirical results.

Evidence of reading appropriate supplementary sources. Adequate referencing.

Orderly presentation, clear structure, using acceptable grammar, spelling and citation.

45-50

Marginal Fail

Limited evaluation and synthesis of issues and material. Limited of superficial knowledge.

Limited evidence of advanced applications and empirical results.

Limited evidence of reading appropriate supplementary sources. Inadequate referencing.

Weak presentation, structure, grammar, spelling and citation.

<45

Fail

Little or no evidence of relevant knowledge.

Little or no evidence of applications and empirical results.

Little evidence of reading appropriate supplementary sources.

Poor presentation, structure, grammar, spelling and citation.

Teaching and Learning Plan

The teaching plan/order of weekly topics is subject to change. The list below provides an outline summary of weekly activities and further information is available on BBL in the relevant week’s folder. Students will be expected to engage in all prescribed activities that contribute towards final assessment.

Week/L&T Methods

Curriculum Content/Topic Title

Independent/Directed Study, includes: Required Reading, Seminar Preparation, and/or Assessment Preparation and due dates

Week 1 Lecture

 

 

Module Welcome: Economics for Business Leaders & The Theory of Demand

Introductions and Student Voice – Expectations of the module

Overview of Module Handbook

Overview of the Blackboard Area

Content: Economics for business leaders. Understanding the demand side of the market and consumer choices.

Reading: 

Begg & Ward: 1. Economics for business; 2. Consumers in the marketplace;

Week 1 Seminar

Seminar Topic/Task: Introduction to Economics

N/A

Week 2 Lecture

 

Lecture Title: Supply

Content: Understanding the supply side of the market. Theory of production and cost

Reading: 

Begg & Ward: 3. Firms in the marketplace.

Week 2 Seminar

Seminar Topic/Task: Consumer behaviour

Worksheet 1: Demand and Elasticity

Week 3 Lecture

 

Lecture Title: Market Equilibrium

Content: Understanding markets in action. Price controls.

Reading:

Begg and Ward: 4. Markets in action

Week 3 Seminar

Seminar Topic/Task: Firm costs and behaviour

Worksheet 2: Supply and firm costs

Week 4 Lecture

 

Lecture Title: Market structure and firm decision making

Content: The theory of profit maximisation, perfect competition and monopoly

Reading: 

Begg & Ward: 5. Market structure and firm performance.

Week 4 Seminar

Seminar Topic/Task: Markets in action

Worksheet 3: Market equilibrium

Week 5 Lecture

 

Learning Objectives: Strategic rivalry

Content: Oligopoly and game theory

Reading: 

Begg & Ward: 6. Strategic rivalry

Week 5 Seminar

Seminar Topic/Task: Competition and monopoly

Worksheet 4: Markets and firms

Week 6 Lecture

 

Lecture Title: Firm growth and the economic role of the government

Content: Firm growth and market failure

Reading: 

Begg & Ward: 7. Growth strategies; 8. Governing business.

 

Week 6 Seminar

Seminar Topic/Task: Strategic rivalry

Worksheet 5: Strategic rivalry

 

Week 7 Lecture

 

Lecture Title: Introduction to macroeconomics

Content: Key concepts, national accounts

Reading: 

Begg & Ward: 9. Introduction to the macroeconomy; 10. Measuring macroeconomic variables and policy issues.

Week 7 Seminar

Seminar Topic/Task: Coursework preparation surgery

Worksheet 6: Week 1-6 Review

DEADLINE DATE

ASSESSMENT SUBMISSION DUE – Week 8 W/C 28th July 2025

Week 8 Lecture

 

Assessment Task

 

Week 8 Seminar

Assessment debrief

N/A

Week 9 Lecture

 

Lecture Title: Determination of macroeconomic equilibrium and stabilisation policy 

Content: Consumption investment and the government sector

Reading: 

Begg & Ward: 13. Expenditure and fiscal policy.

Week 9 Seminar

Seminar Topic/Task: Macroeconomic basics

Worksheet 7: Introductory macroeconomic concepts

Week 10 Lecture

 

Lecture Title: Inflation and Unemployment Trade-offs

Content: The determinants of inflation and unemployment

Reading:

Begg & Ward: 15. Inflation, output and economic policy; 16. Supply side policies and economic growth

Week 10 Seminar

Seminar Topic/Task: The Keynesian model

Worksheet: The Keynesian model

Week 11 Lecture

 

Lecture Title: Open economy macroeconomics

Content: Globalisation and the determination of exchange rates

Reading: 

Begg & Ward:11. Exchange rates and the balance of payments; 12. Globalization

Week 11 Seminar

Seminar Topic/Task: The aggregate demand and aggregate supply model 

Worksheet 8: Demand side policies

Week 12 Lecture

 

Lecture Title: Module review

Content: Retrospect and prospect

 

Reading: 

Review textbook readings

Week 12 Seminar

Seminar Topic/Task: Assessment 2 Surgery

Course review

Week 13

Revision Week

 

Week 14-15

Assessment Period

DEADLINE DATE

ASSESSMENT SUBMISSION DUE – Friday August 29th 2025 [Week 13]

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