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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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