Keele University Prospectus Undergraduate | 2016 | Page 62

BUSINESS AND MANAGEMENT

Business Economics
Overview

Business Economics provides a study of the major
functions and techniques relevant to business
decision making. It aims to familiarise you with the
factors affecting economic and financial decision
making within a broader business context that
embraces management and accounting.
You will develop the ability to explain a diverse
range of real world business phenomena in terms of
a small set of unifying core economic principles and
combine theoretical analysis with up-to-date factual
knowledge. You will develop independence and
self-confidence in your work and use professional
software tools for the analysis of real business data.
This programme offers an extensive choice of
options across a range of disciplines, a supportive
and challenging learning environment and a wide
range of career opportunities in business, finance
and government with the opportunity to spend a
semester studying abroad.

Course content

Business Economics is a very flexible programme for
students with an interest in the economic, financial
and business world and provides the opportunity
to study a wide range of business-related topics.
First year
Six core modules cover the basics of economic and
financial decision-making:
Households, Firms and Government introduces
the basic concepts of supply, demand and price,
the principles underlying household and firm decision
making, and the effect of market intervention on
these decisions.
Management in Context looks at the nature of
management and the development of management
thought, planning, decision-making, organising,
staffing, leading and controlling.
Accounting Principles examines the basic concepts
of financial accounting and how these may be used
to construct and interpret the financial statement for
an organisation.
Economics of Financial Markets explores the
connection between the financial system and the
wider economy emphasising how financial markets
operate efficiently to transfer funds from savers
to borrowers through the workings of the money
and capital markets. It also examines how asset
prices are determined by the equilibrium of supply
and demand.

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Quantitative Methods develops knowledge of
basic mathematica l and statistical methods such
as calculus, probability, hypothesis testing and
univariate regression, used extensively in economics
and finance.
Output, Inflation and Employment introduces
concepts of national income, investment and
consumption and theories of their determinants
and issues concerning the management of
the economy.
Electives are also offered in the areas of law,
accounting, management and marketing.
Second year
There are five core modules:
Price Theory covers more advanced analysis of the
consumer and the firm, examining the factors that
underpin demand and supply in markets.
Introduction to Econometrics uses statistical
methods to investigate selected economic and
financial issues such as consumption functions,
household labour supply and asset pricing.
Asset Pricing introduces the relationship between
risk and return in financial markets and the role of
arbitrage in determining asset prices.
Open Economy Macroeconomics examines the role
and capability of government demand management
policies in an open economy.
Portfolio Choice builds upon Asset Pricing and
explores the rationale for holding portfolios and the
advantages this brings as a way of diversifying risk
for private investors and large financial institutions,
such as insurance companies.
You will also choose three electives from economics,
finance, management, human resource management
and marketing.