5B005E - System Error: Rebooting Economics 01 Sep 2026 - 31 Aug 2032 | Version 0
Associated Module Information
| Module Code: | 5B005E | ||
|---|---|---|---|
| Module Title: | System Error: Rebooting Economics | ||
| Faculty: | Faculty of Business and Creative Industries | ||
| Faculty Group: | Business Management | ||
| Faculty Sub Group: | Business Management | ||
| Module Leader: | Mary Hedderman | ||
| Module Team: | Liam Newton | ||
| First Intended Intake: | SEP 2026 | Final Year of Intake: | |
| Date Closed: | |||
| Credit Value: | 30 | Credit Level: | 5 |
| Language: | English | ||
| Percentage of Module Taught in Welsh: | 0 | ||
| Equivalent Module: | |||
| HECOS codes: | 100078 - business and management | ||
| HECOS Code Weighting: | 100 | ||
Document Version Information
| Version | 0 |
|---|---|
| Valid From | 01 Sep 2026 |
| Valid To | 31 Aug 2032 |
Module Aims
To develop students’ awareness of the microeconomic concepts of supply and demand, and how they impact business decision making
To develop students’ awareness of macroeconomics, particularly within a UK context
To consider how economic decisions can impact on social issues, particularly for improving social mobility.
Content Summary
Successful business depends on economics. Whether we consider the impact of supply and demand on an individual business or industry, or the larger societal issues of inflation, employment, or international trade – it is clear not only the importance of understanding economics, but also the dangers involved when these complex and interdependent systems go wrong.
This module links the business concepts already studied so far with both micro and macroeconomics, and more importantly is a chance for students to consider how businesses can reboot economics – benefitting not only their own profitability and success, but also society as a whole.
Learning and Teaching Methods
| Activity Type | Hours |
|---|---|
| Lectures | 6 |
| Practical Classes and Workshops | 50 |
| Groupwork | 50 |
| Guided Study | 114 |
| Formative Assessment | 20 |
| Summative Assessment | 60 |
| Total Hours Selected | 300 |
Learning Outcomes
| # | Learning Outcome |
|---|---|
| LO1 | Apply knowledge of micro- and macro- economics to decision making in the context of a large UK employer |
| LO2 | Understand the implications of business initiatives on both the economic success of the business as well as societal issues such as social mobility. |
Module Requisites
N/A
Assessment Criteria
| Assessment Category | Assessment Type | Description | Duration | Word Count | Weight (%) | Best of? | Pass Mark |
|---|---|---|---|---|---|---|---|
| Asynchronous Assessment | Web page/wiki | Students will need to research their proposed initiative and develop a comprehensive website presenting the initiative and the evidence behind it – structured as a live ‘micro-site’ that the industry partner could use. | 0 | 7500 | 60 | No | 40 |
| Synchronous Onsite Oral Assessment | Practical / Clinical Viva (Onsite) 1 | all students will have a 20 minute individual viva where they need to defend their proposed initiative, particularly focussing on the micro and macro economic implications of their initiative. | 20 | N/A | 40 | No | 39 |
Assessment Matrix
| Assessment Type | Learning Outcomes | ||
|---|---|---|---|
| LO1 | LO2 | ||
| Web page/wiki | ✔ | ✔ | |
| Practical / Clinical Viva (Onsite) 1 | ✔ | ✔ | |