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Module Title
Business Economics

Economic Concepts, Business Objectives, Market Structure, Pricing, Competitiveness, ,market Failure, International Business

SCQF Points10
ECTS Points5
CreatedMay 2002
ApprovedSeptember 2014
AmendedJune 2011
Version No.6

This Version is No Longer Current
The latest version of this module is available here
Prerequisites for Module

None in addition to course entry requirements or equivalent.

Corequisite Modules


Precluded Modules


Aims of Module

To provide managers with an ability to critically assess economic principles and theories relevant to the analysis of business behaviour and the economic environment in which business organisations operate.

Learning Outcomes for Module

On completion of this module, students are expected to be able to:

1. Critically evaluate the alternative theories of microeconomics and their implications for buisness
2. Critically assess concepts and principles underlining business activity
3. Apply the appropriate models and techniques for analysing the environment within which business organisations operate
4. Evaluate and synthesise the alternative theories and models of business behaviour

Indicative Module Content

The domestic and international economic environment, economic concepts, demand and supply, firms and markets, market structure, business objectives, profit maximisation, managerial and behavioural models, cost in theory and practice, pricing, competitiveness and productivity, market failure.

Indicative Student Workload

Contact Hours

Full TimePart TimeDistance LearningBlended Learning
Online Discussions/Activities

Directed Study

Directed Study

Private Study

Private Study

Mode of Delivery

Taught Mode (T)
The module is delivered in Taught Mode by lectures, workshops, interactive group work, tutorials and directed self-study.
Distance Learning Mode (DL)
The module is delivered in Distance Learning mode by self directed study learning from paper-based or web-based learning materials, supported by on-line support and group work.

Assessment Plan

Learning Outcomes Assessed
Component 1 1,2,3,4

This module is assessed by a portfolio coursework including contribution to module activities.

Indicative Bibliography

1.SLOMAN, J., 2011. Economics and the business environment. 3rd ed. Harlow: Financial Times/Prentice Hall. ebook
2.SLOMAN, J. et al., 2016. Economics for business. 7th ed. Harlow: Pearson.
3.WORTHINGTON, I. and BRITTON, C., 2014. The business environment. 7th ed. Harlow: Financial Times/Prentice Hall.
Applied Economics
Business Economics
Economic Journal
Journal of Economic Perspectives
National Institute Economic Review
Oxford Review of Economic Policy

Robert Gordon University, Garthdee House, Aberdeen, AB10 7QB, Scotland, UK: a Scottish charity, registration No. SC013781