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Level 1: Business Environment

Module Description

This module aims to:

1. Identify how a market economy functions and the role of government within it;
2. Examine the economic environment within which businesses operate in the United Kingdom;
3. Explain why countries benefit from trade with each other; and
4. Make students aware of the growing impact of the European Union on British business.

Module Content

The Economic Context

• The nature of the economic problem and identification of the different types of economic systems.
• Mixed and market economic systems and the move towards more market orientation of business.
• Deregulation and the implications for British Business of changes in business organisations.
• Changes in UK economic structure. The causes and consequences of structural change.
• Macro-economic objectives of Government economic policy. Analysis of key macro economic problems, theories, policies and solutions.

The International Context

• Why do countries trade with each other? (theory of international trade)
• The development of international economic integration theories with particular reference to customs unions, common markets and full economic union.
• European integration issues for the U.K.

Intended Learning Outcomes

On completion of this module, students will be able to:

• Understand the economic environment of business
• Examine the nature of economic activity in the business market
• Identify and understand the main reasons why countries benefit from engaging in international trade with each other
• Recognise the importance of the European single market for British business.

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