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.

Module Description

This module aims to:

Identify how a market economy functions and the role of government within it;
Examine the economic environment within which businesses operate in the United Kingdom;
Explain why countries benefit from trade with each other; and
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.

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