Introduction to Business, Economy and Government

First Year Module

The main aim of this module is to introduce students to the theories on how economies work and the policy response to the perceived problems, to understand the economic and political context within businesses operate. It is an introduction to the role of economic theories in shaping policies and the role they play in shaping economic outcomes.

It will begin by looking at the state of the UK, EU and Global economy to enable students to understand the issues facing the UK and EU. The module will then look at theories explaining the spatial distribution of economic activity; it asks:

  • What is globalisation?
  • What is regionalism?
  • What is meant by agglomeration, Milieux and clusters?
  • Is it ‘one world’ or is the world divided into regional blocs?
  • Is proximity important to businesses for innovation and in achieving competitive advantage?

It then looks at the institutional architecture of the UK, the EU and at international scales before taking a critical overview of three different economic theories which embody a different view on how economies work and on the economic and industrial policies needed to secure the development of businesses, economic growth, competitiveness and prosperity.

Learning Outcomes

By the end of the module students should be able to:

  • Assess the current state of the British, European and international economy
  • Understand why the geography of production matters
  • Demonstrate knowledge of the governance structure of the UK and European Union and to have an awareness of international economic institutions
  • Construct a critical analysis of the relationship between economic theories and government policies for the development of businesses, economic growth and prosperity