BSc (Hons) Management with Economics

This module will introduce you to key theories, insights and methods within Organisational Studies. In particular, it will critically examine different organisational forms, processes and contexts.

The module places an important emphasis on the meaning and content of organisational strategies. It will help you develop the tools you need to analyse an organisation’s positioning within the marketplace, and think/plan strategically in order to make it more competitive.

You'll gain an understanding of strategic management and appreciate the interrelated dynamics of both strategic and organisational research and practice.

This module introduces students to microeconomics, macroeconomics and the context of economic analysis. Students will get a good grounding in microeconomic theory and will understand the principles used in mainstream rational choice and perfect competition theory.

The course will cover preference theory, demand and supply, income and substitution effects, cost and revenue curves, perfect competition and partial equilibrium theory. The focus here is the internal consistency of neoclassical microeconomics as exemplified in rational choice theory and competitive markets, and its use of logic. Arguments showing the context and limited nature of neoclassical economic tools in explaining the economic and social reality will be discussed throughout these weeks. 

Then students will be taught topics of macroeconomics. In this section, the focus will be on the following specific concepts: national accounting, inflation, unemployment and business cycles. The analysis of these concepts will be through the use of contemporary schools of economic thought (New Classical, New Keynesian, Post Keynesian, and Monetarist) and their analytical frameworks. By viewing these concepts through these different frameworks, the student is introduced into open-ended discussions on these topics as different answers are equally valid as long as students can clearly identify the theoretical frameworks that he/she is using.

Finally, students then will learn about the social, political and business context of economic theory through the discussion of case studies and real-world examples.

• Learn about why entrepreneurship is important and how it impacts on individuals, communities and nations
• Examine different forms of entrepreneurship from business start-ups to corporate entrepreneurship, to family businesses and growth-oriented businesses
• Understand entrepreneurial processes from opportunity identification to resource acquisition and innovation and why some people become entrepreneurs while others do not
• Examine different groups of entrepreneurs including female and ethnic minority entrepreneurs and the cultural and contextual factors that shape their development

This module is an introduction to marketing. By the end of the module you will have a knowledge of the role of marketing within organisations and within society, and of the principles of marketing management.

Conceptually, the module is divided in two sections. The focus of the first section is to understand what marketing and its role within society. In the first five weeks, you will be introduced to the definition of marketing, the role of marketing within organisations, the value of marketing within organisations and society, the history of marketing, the role of marketing in constructing the consumer society, and the relationship that marketing has with society (i.e. marketing ethics, and sustainability).

We will study both traditional and critical/interpretativist theories of marketing.

In the second half of the module, you will be introduced to foundational topics in marketing management. You will also be introduced to marketing strategy through an brief overview of the 4Ps of marketing - Product, Place, Promotion and Price.

This module is organised around the idea development process, particularly as it relates to generating business ideas, recognising and evaluating business opportunities, and relationships between these concepts. Students will reflect critically on the different definitions, theories and empirical work on business ideas and opportunities, where they come from (e.g., sources of change, trends) and how they are shaped. They will learn how to generate and identify their own business ideas and opportunities using different approaches (e.g., problem or human-centered). Students will also learn how to evaluate these ideas/opportunities, applying both business-focused and person-focused criteria. Using business focused criteria, they will be required to carry out an in-depth feasibility analysis which necessitates research across several areas that are central to the business idea – e.g., the product/service, industry-target market (customer needs), the organization/management and finance. Person-focused criteria will take in to consideration the experience of the student/entrepreneur, the entrepreneurial mindset, background factors and other characteristics.

This module covers the core concepts of both finance and accounting. It will introduce students to the important financial and managerial accounting principles that are necessary when running any type of organisation- whether it is manufacturing, merchandising, service, non-profit, or government. It will give students an understanding of how management accounting information is used by managers in their planning and control activities and, is designed to prepare graduates for a variety of professional managerial roles in both the public and private sectors. It covers topics such as financial accounting and reporting, foundation and tools for management accounting, strategy development and using costs in decision making, costing systems and activity-based costing, managing customers, processes and life cycle costs, and using budgets for planning, coordination and control. In the financial component of the module, students will look at the three traditional accounting statements, balance sheet, income statement, and cash flow statement. The module has two distinct elements: managerial finance with a focus on understanding financial statements, and management accounting with an emphasis on costing, budget and control. The lectures in the module will be supplemented by several assignments designed to develop and enhance practical skills.

This module aims at providing a good understanding of core marketing management principles applied in consumers, industrial services and organisation both from a theoretical and a practical standpoint. It seeks to explain the value of a marketing focus to both customer and supplier, and analyses what marketing can do and does contribute to both individual and organisational users.

This module will cover all the topics needed for marketing management and planning. The module will start analysing strategic tools for marketing strategy definition such as segmentation, targeting and positioning. It will then analyse the marketing process through a review of the marketing mix principles i.e. the 4Ps (Product, Place, Promotion, and Price). It will then explore in detail each one of these tactics. Specifically, students will learn about the strategic role of the product within marketing strategy looking at product management practices and the product innovation process. Students will then analyse the elements of the augmented product model with a focus on the role of branding within marketing management and they will be exposed on how to build brand equity within the company. Finally, students will look into differences between the definition of product and services, and they will be introduced to service marketing practices.

The module will then move to analyse other tactics of the marketing mix. Specifically, students will look into pricing strategies as tools for maximising the profitability of the company and as a promotional tool for reaching consumers. The module will then focus on the Promotion tactics. Students will analyse the topic of Integrated Marketing Communications in order to understand how the different promotional practices used by the company do not happen in isolation, but they are the result of an integrated strategies in order to reach the objectives of the company. The module will then investigate the elements of Integrated Marketing Communication (or Marketing Communication Mix) with a particular focus on advertising, digital advertising and PR (from a management perspective). Furthermore, the module will look at the relationship between sales promotion and sales management, with a particular focus on how Integrated Marketing Communications influence the sales of the company.

Finally, the module will investigate the Place tactics looking into distribution strategies. This section will explore both on B2B and B2C distribution tactics. However, the focus will be mostly on retailing practices within the company. The theories presented so far will be complemented with real life examples and exercises. Students will also be exposed to case studies analysis to apply the theory into practice.

This module will introduce you to the psychological theories and research on how organisational, team-level and individual characteristics affect productivity and mental health. This module will also consider the limitations of our understanding of these issues and how occupational psychology theory and research is trying to overcome them. 

This module provides a broad appreciation of management and entrepreneurship research frameworks. It will introduce students to the fundamentals of research design and methodology with an eye towards conducting research in the fields of entrepreneurship, organisational behavior, and management. We will explore data collection efforts and data analysis from a quantative, qualitative and mixed-methods approach, while also considering ethical implications. The module will also focus on how to craft a research question, engage in a literature review and how to structure a research proposal. The module will culminate in a final research proposal.

This module introduces the mathematical methods used in the analysis of modern economics. This module does not require an A Level in Mathematics (or equivalent) and is suitable for students both with and without an A Level in Mathematics as it teaches the use of mathematics in relation to economic theory and application.

Students will revise and apply basic concepts of mathematics to relevant economic problems. Furthermore, they will learn partial derivatives and second partial derivatives of functions of two or more independent variables, constrained and unconstrained optimisation. These mathematical tools will be taught with special emphasis on how they are used in economic applications and real life examples.

This module introduces students to economic reasoning and basic issues in economic methodology.

The module starts off with a concise introduction to key questions in the philosophy of science, such as explanation, laws, inductive and deductive reasoning, verification and falsification, scientific paradigms, and theories and models. These tools are then used to discuss the epistemological status of economics.

The following two weeks are devoted to what economics studies, and how. Competing definitions are presented, with a special focus on production and exchange paradigms, and the types of reasoning associated with them (economic change and systemic coherence vs. equilibrium and optimal allocation).

The next two weeks focus on levels of analysis (micro, macro, and intermediate) and methodological issues associated with them, such as individualism vs. holism.

The fourth part of the module addresses the dichotomy, which has divided economic analysis since the Methodenstreit, between general principles and historical contingency. It discusses the divide between economic theory and economic history, as well as possible ways ahead.

The last two weeks are devoted to rationality. They cover classical rationality, forms of bounded rationality, the problem of determination and freedom, and possible ways to overcome existing dichotomies and limitations.

This module builds on the first year module, Introductory Economics, by discussing, in depth, key theoretical insights from alternative schools of economic thought. This objective is achieved by focusing on a canon of key texts in the history of the subject, and tracing the evolution of the ideas emanating from, or strongly related to these texts, through time. The five main texts analysed are: Adam Smith’s Wealth of Nations, David Ricardo’s Principles of Political Economy and Taxation, Alfred Marshall’s Principles of Economics, Wicksell’s Interest and Prices and John Maynard Keynes’ The General Theory of Employment, Interest and Money. Each text is used as a starting point for a discussion on the evolution of the following economic concepts: specialisation and gains from trade, distribution theory, theory of the firm, theory of money, and the theory of aggregate macroeconomic relationships. Finally, the module discusses the link between past and contemporary economic thought, contextualising it within a broader perspective that includes points of view such as those of feminist economics and from geographically diverse traditions, and the use of these theoretical structures in analysing contemporary economic problems.

• Understand key concepts relating to international business, describe the key players in international business, and discuss the advantages and disadvantages of globalization 
• Examine the international business environment and the different dimensions (political, legal, technological and cultural) that affect the operations of international businesses
• Understand the international monetary and financial environment
• Examine different strategies for entering in to foreign markets and analyse organizational design, control and structure in international business contexts

The module aims to provide a good understanding of the key areas of macroeconomics, through the analytical tools of different schools of thought.

This module covers the evolution of macroeconomic analysis through a succession of key models, including Keynesian, Monetarist, New Classical, Real Business Cycle, New Keynesian, and Post Keynesian approaches. It studies the analytical details, the underlying economic assumptions, and the historical context in which they emerged. It also provides an introduction to structural theories of business cycles. You study economic growth and economic development, explaining the differences between the two and using historical examples. Classical, Keynesian, and neoclassical theories, as well as structural dynamics are discussed.

The final two weeks are devoted to the political economy of economic policy, from the viewpoint of different schools of thought: controversies on the effectiveness of fiscal and monetary policy, individual rationality applied to policy decisions, economic and political disagreements, models of voting on macro-policy, and recent developments.

This module builds on the first year Introductory Economics module and the Mathematics and Statistics for Economics and Business module to give a more in depth perspective of microeconomic theory and its technical apparatus.

The first six weeks give an overview of the technical and theoretical analysis that forms the core of the neoclassical theory of consumption, production and market interaction. It introduces the following topics: choice under uncertainty, inter-temporal choice, incomplete and asymmetric information, principal-agent problem, basic game theory, dynamic and static oligopoly, price differentiation, markup pricing and market concentration.

In contrast, the rest of the module focuses on aspects of microeconomic behavior that do not conform to rational choice theory as developed in traditional neoclassical economics. Each week will explore a different alternative approach, icluding: Simon’s Bounded Rationality, Sen’s Capability Approach, Behavioural Economics.

This module combines resources from three fields of economic theory: macroeconomic analysis, history of economic thought and economic history.

The first seven weeks focus on six episodes in economic history, ending with the current (post 2007) crisis. The writings of different schools of economic thought are used and contrasted in order to see how different theorists understood and analyzed the crises and the types of solutions they offered to solve them. Discourses from outside economics (from psychology or/and sociology or/and anthropology) will also be utilized as competing interpretations that explain different aspects of these crises not captured by economic analysis.

Finally, the last three weeks will focus on the general concept of economic crises, and related concepts of risk and uncertainty, and discuss how these events alter our understanding of the workings of the market economy.

This module compares and contrasts the behaviour of individuals and institutions. It provides a more detailed understanding of the various levels of analysis that you have encountered throughout the degree and provides an applied discussion of the issues surrounding methodological individualism, including the social construction of the individual from different geographical and disciplinary traditions.

The first eight weeks of the module cover four levels: i) the individual; ii) firms and organisations; iii) the state; and iv) the supranational and international level.

The last two weeks are devoted to how individuals and institutions cope with uncertainty. The view of uncertainty as risk is integrated and contrasted with theories of strong and fundamental uncertainty, as well as perspectives from other social sciences.

This module gives you an understanding of the international economy that integrates the real and monetary sides, and the economic and the political spheres. Different traditions of economic analysis will be used to shed lights on three main issues: the European Union and the Eurozone, China’s trade policy, and the international monetary system since Bretton Woods.

The first five weeks concentrate on trade. They cover the standard tools (comparative advantage, neoclassical trade theory, and new economic geography) as well as analytical and historical perspectives on international competition. It focuses on different insights concerning economic analysis and policy, as well as the integration with the political dimension.

The last five weeks focus on the international monetary system. By combining the standard tools of international macroeconomics with historical and analytical perspectives, the aim is to understand the evolution of the international monetary system since Bretton Woods, and its effects on national economies. Special attention is given to currency areas, especially the Eurozone, and to the connection between monetary arrangements and real and political aspects.

This module builds on Mathematics for Economics and Business and introduces students to more complex mathematics operations that are necessary for the 3rd year compulsory courses in mathematical economics and econometrics for the BSc Economics with Econometrics.

Topics include: first and higher order derivatives, partial derivatives, constrained and unconstrained optimisation, exponential and logarithmic functions, basic statistical concepts (summation operation, measures of central tendency and measures of dispersion) and matrix algebra.

These topics will be presented in relation to their economic applications, so that students will learn about marginal utility, profit maximisation and cost minimisation, short run and long run profits in different market structures, and utility maximisation given a budget constraint.

This module develops an understanding of economic theory in a real world policy context. Students are introduced to some key theories of economic policy that deal with the complex relation between the state and the market in a variety of real world situations.

The first few weeks discuss broad theoretical approaches that conceptualize the interaction between the private and public sectors. These range from theories that see the two sectors antagonistically (for example government action as constraining market activity) to theories that see them as complementary or/and collaborative and even symbiotic (for example the state as an entrepreneurial entity that works with the private sector).

After this initial presentation of theories of state/market interaction, we see how these alternative paradigms inform policy design. These different approaches are used to discuss a variety of real world policy issues. These include the following topics: environmental issues, industrial policy, provisioning for sectors of the population (healthcare and aging support provision, housing, etc), labor relations, and national and supranational political economy.

Lectures are complemented by seminars which teach the students basic techniques of compiling policy briefs and other relevant forms of policy documents widely used in government.

This module expands on the topic of macroeconomics and focuses on the nature of money and credit in the modern economy. It covers the different public and private institutions that govern behavior in the modern financial economy, and their historical evolution in different parts of the world.

For example, it discusses the central banks of US, UK, Japan and the Eurozone, as their decision making structures, capacities and occasionally objectives, are partly determined by their different histories.

Furthermore, the module covers the theoretical analysis underpinning the modern operation of central, commercial and investment banks. It covers topics of exchange rates, the supply of money, interest rate setting, and the evolving institutional political economy that banks operate in.

It introduces students to central bank balance sheet analysis in relation to liquidity and capital assets. Finally it presents key aspects of the recent literature on regulation that has substantially altered operations in the financial sector since the 2008 crisis.

Digital technologies allow for the creation and storage of an unprecedented amount of data. The advent of the Internet of Things will further accelerate the growth of digital data, as more and more devices and physical objects will connect to the internet. The ‘digital universe’ is expected to grow from 4.4 trillion gigabytes today to around 44 trillion gigabytes by 2020. This deluge of data presents an immense opportunity for marketing, yet seizing this opportunity requires specific market research skills.This module will introduce students to the rapidly growing field of data science and will familiarise them with its basic principles and general mindset. Students will learn concepts, techniques, and tools that are used to deal with various facets of large data sets. It is essential to develop a deep understanding of the complex ecosystem of tools and platforms, as well as the communication skills necessary to explain advanced analytics. This course will provide an overview of the wide area of data science and the tools available to analyse large amounts of data. The module will also highlight limitations of big data analytics. Specifically, big data analytics assist in improving and developing existing product portfolios, yet their ability to derive insights that may inform the creation of radical innovations and new markets is limited. Potential approaches to address this limitation will be discussed (e.g., combinations with qualitative/netnographic research methods).

In summary, this module aims to provide students with the skills needed to work in data-driven marketing environments.