BA Business Management (Economics)

How do global markets work and how do they affect the way companies respond to competition? What is behind the big economic decisions of governments and businesses? In this specialized track available in the BA in Economics, you will develop an interdisciplinary perspective on the management of business organizations and build specialized knowledge and skills [...]

How do global markets work and how do they affect the way companies respond to competition? What is behind the big economic decisions of governments and businesses? In this specialized track available in the BA in Economics, you will develop an interdisciplinary perspective on the management of business organizations and build specialized knowledge and skills in economic theories and practices. Upon completion of your degree, you will be equipped with the skills to use and apply economic principles and theories in the workplace and global environments, and you will acquire a wide range of transferable management skills.

Key features of the course

  • Develops your ability to apply and evaluate theories and techniques in economics
  • Explores and analyses the interdisciplinary nature of business management, and the role of economics in shaping business and global decisions
  • Helps you relate your studies to your own experience
  • Equips you for a wide range of employment opportunities across all sectors

The first stage 120 Credits

1
Make your learning important

This innovative and flexible ISC level 1 module allows you to count different types of learning towards a formal ISC qualification. The type of study you can count includes courses from the ISC’s profisional learning platform, other open educational resources (or learning programmes you may have undertaken through work or elsewhere. Through a series of topics and assessment tasks, you will explore what you have learnt whilst developing the skills you need to be a successful student. The courses that you choose to study is up to you, making this learning experience an entirely personal one. Your tutor will help you plan your study and identify what you are hoping to achieve through this module and your future study plans.

What you will study

Open & Virtual educational resources provide a valuable platform for learning about a wide variety of topics and subjects. This module allows you to take what you have learnt and use it towards the ISC qualifications outlined above. You will have a tutor to offer help and advice, and fellow students with whom you can share ideas.

These assessment tasks will help you develop your study skills over the course of the module. These will focus on developing the ability to plan and reflect on your learning. This will be done by supporting you to decide on the courses you will study and when. You will learn how to communicate your learning through a variety of tools, and then develop an appreciation of multi and interdisciplinary study. You will be able to look at other students’ work and comment on it, and develop the ability to learn about how assessment can consolidate your learning. All this will be carried out while you have a very wide choice of materials to give you a taste of a variety of topics and disciplines. 

The final assessment task provides you with an opportunity to consolidate your learning as you approach the completion of this module. 

You will learn

The module will help you explore what happens when you bring different knowledge, skills and learning experiences together. You will discover the richness that comes from thinking about a topic from a variety of angles. This new insight may confirm that your learning goals are exactly as you had originally planned, or it may open a whole new world of possibilities.

2
Introducing statistics

Today, more than ever, statistics is part of our lives. From this key introductory module you will learn how to use basic statistical tools and quantitative methods that are useful in business, government, industry, medicine, the economy, and most academic subjects. Topics covered include: summarising data; examining relationships; randomness and sampling distributions; probability; testing hypotheses; and estimation. Using data from a range of applications, you’ll learn practical statistical techniques and fundamental principles, as well as using software and a calculator to analyse data. The skills introduced will be ideal if you plan to study more mathematics modules or if you encounter data in another subject or your daily life.

What you will study

This key introductory statistics module is designed for people who have not studied statistics before. It focuses on the application of statistics, adopting the attitude that statistics is about solving problems. The module is data driven. We collect relevant data and we analyse them to answer the problems. The methods that are covered are not specific to one field of application alone, but apply to all areas in which statistics is used.

The text contains many exercises that you should work through to help you learn and to monitor your own progress. Most exercises involve calculations that you will do by hand (or by calculator), but some you will do by computer, using the software package Minitab, which you will be taught to use and which is supplied with the module. You will be encouraged to develop skills in interpreting and communicating your results and this will be assessed in assignment questions.

Providing you have the appropriate background knowledge (see Entry Requirements) you should expect to study for about nine hours a week. Many of the topics covered in the module depend on your understanding of topics in earlier units. So, if you have not adequately understood earlier material, you may find later material difficult and time consuming.

You will learn

Successful study of this module should begin to develop your statistical skills and enable you to analyse common forms of data so as to address practical problems.

You will learn about:

key ideas in statistics

statistical vocabulary and notation introduced in the module

selection and use of statistical techniques for exploring data

interpretation of results in the context of real life questions

communication of results

use of statistical software

use of relevant ICT tools for learning.

The module contains many data from real world situations based around three themes: economics, education and health.


3
Discovering mathematics

This key introductory ISC level 1 module provides a gentle start to the study of mathematics. It will help you to integrate mathematical ideas into your everyday thinking and build your confidence in using and learning mathematics. You’ll cover statistical, graphical, algebraic, trigonometric and numerical concepts and techniques, and be introduced to mathematical modelling. Formal calculus is not included and you are not expected to have any previous knowledge of algebra. The skills introduced are required for successful study in many subject areas, such as in computing, economics, science, technology, social science, humanities, business and education. And they’re needed if you plan to study further mathematics modules, such as Essential mathematics 1 .

What you will study

In order to study this module successfully you should expect to be actively doing mathematics, rather than just reading it. You will also be encouraged to develop skills in interpreting and explaining mathematics, and this aspect will be assessed in some of the assignment questions.

Providing you have the appropriate background knowledge, you should expect to study for about eight hours a week. Many of the topics covered in the module depend on your understanding of topics in earlier units. So, if you have not fully understood earlier material, you may find later material more difficult and time consuming. This is particularly true of graphs, formulas and algebra. Naturally, the study time required for the module tends to increase before an assignment deadline.

You will learn

Successful study of this module should begin to develop your skills in working with mathematical concepts and using them to solve problems.

You will learn about:

  • key ideas in mathematics, including some statistics, algebra, geometry and trigonometry
  • mathematical vocabulary and notation introduced and developed in the module
  • selection and use of mathematical techniques for solving problems
  • interpretation of results in the context of real life situations
  • simple mathematical arguments
  • how to explain mathematical ideas from the module in writing
  • development of skills in learning mathematics
  • use of relevant ICT tools for learning and for working on mathematical problems
  • describing problems mathematically
  • analysing mathematical reasoning.

The module contains many real world contexts such as journey planning, glaciers, supply and demand, depreciation, poverty levels, chance events, and medical conditions (such as cancer), to help illustrate mathematical topics.


4
Communication skills for business and management

This multi-award-winning ISC level 1 module will develop your language and skills for communicating effectively in the world of business and management. You will learn to write successful business assignments and a range of workplace documents; develop strategies to read complex texts on business topics; be able to give effective presentations and take part in business negotiations and academic discussions. The module materials use a blend of texts, audios, videos and interactive online activities to help you develop both your written and spoken business communication skills.

What you will study

This module enhances your language and communication skills needed in the world of business and management through the application of key business concepts and frameworks to real business case studies from various organisations. The activities you carry out will also raise awareness of your own use of language in business communication. 

The module has three courses as described below: 

In Course 1: Analysing and Reporting, you will develop your communication skills through reading, analysing, writing and speaking about business case studies. You will learn to summarise business cases and you will learn to use frameworks such as SWOT and STEEPLE to analyse cases and make recommendations. You will develop your formal business language to write reports which propose solutions to business problems and you will learn how to search for information and support your ideas with evidence. 

In Course 2: Influencing, you will develop your communication skills for the purposes of persuasion, negotiation and discussion in business contexts. You will have the opportunity to listen to and engage in spoken interactions such as meetings and discussions. You will also develop the skills and language to write persuasive and influential workplace documents. You will develop your critical thinking skills for the purposes of discussion, business presentations and defending your viewpoint.

In Course 3: Collaborating, you will use case studies and workplace scenarios to develop your team working skills and consolidate the learning from the previous course. You will focus on the language of human resource management, marketing and finance and you will work as a team to create a presentation. You will develop the skills to present yourself effectively for a job interview and an understanding of the recruitment process. You will learn about training and professional development needs in the workplace and reflect on your own experience in a systematic way.

Throughout the module you will develop your skills of reflection through writing or speaking about your learning process. You will study this module mainly online. In addition, there are two printed resource books which contain case studies, useful tips on business communication skills and other reading texts. 


5
Fundamentals of accounting

This module provides a broad introduction to accounting study at university level. It covers the fundamentals of financial and management accounting as well as the essential skills, knowledge and ethics required to be a professional accountant. The module will also be suitable if you are in a general management position as the accounting material covers measuring management performance and improving financial planning, control and decision-making. You'll gain an understanding of financial reports through their preparation, based on the double-entry bookkeeping system, which is essential for the management of any organisation. 

What you will study

Proper accounting is crucial for the prosperity and survival of any organisation. Our complex economic system depends on accurate, trustworthy and relevant financial records and reports. While this module focuses on the accounting required for a sole trader, the skills and knowledge you'll learn are of central importance for accounting, and managing in any organisation, whether for-profit, not-for-profit or governmental.

Course 1: Introduction to accounting

You'll begin by being introduced to the scope and structure of the module and the purpose of bookkeeping and accounting, as well as the skills, knowledge and ethics required for accounting.

Course 2: Essentials of double-entry bookkeeping

You'll be introduced to the key principles of the double-entry bookkeeping system, which is based on the accounting equation.

Course 3: Accruals accounting explored

You'll develop an understanding of recording a wide range of transactions through ledger accounts. 

Course 4: Control over the ledgers  

This introduces the books of original entry that underpin ledger accounts as well as the different ways that ledger accounts are monitored, controlled and corrected. 

Course 5: Preparing financial statements

You'll revisit end-of-period adjustments and how they are used to prepare financial statements. You'll learn how to derive useful information from incomplete records, and how to prepare manufacturing accounts.

Course 6: Essentials of cost and management accounting  

You'll be introduced to the basic concepts and principles of management accounting, including cost analysis, accounting control systems and cost bookkeeping. You'll also cover the differences between manual and computerised accounting systems.

Course 7: Management accounting applications

You'll consider some important management accounting applications, applying the concepts and principles of management accounting introduced in Course 6.

Course 8: Preparing for the exam

The final Course is designed to help you revise the module teaching materials and prepare for the end-of-module examination.

There will also be a tutorial on incomplete records and you’ll have access to video tutorials on suspense accounts, bank reconciliations and control account reconciliations.

You will learn

You will learn the fundamental concepts and techniques of financial and management accounting as well as a range of relevant skills. These include double-entry bookkeeping, advanced numeracy, reading and analysing relevant case studies, using information and communication technologies, preparing appropriate reports and using and manipulating spreadsheets.


6
An introduction to business and management

This key introductory ISC level 1 module provides an accessible and comprehensive introduction to business and management in a globalised world. Through readings and international case studies you’ll explore a wide range of topics in contemporary business and management: what motivates people to work; how to assess financial soundness of a business; what attracts customers; how economic crises affect businesses; and ethical challenges in business and management. Using a blend of text, audio video and interactive online activities, you’ll develop vital skills for study and for work in business, public or voluntary sector organisations.

What you will study

Businesses make up a hugely significant aspect of global society and provide both goods and services for people to use and employment for a large proportion of the population. This introduction to the fascinating world of business consists of seven Coursees of materials that cover a wide range of topics in contemporary business. Each Course consists of a Readings book in addition to an online study planner and interactive online activities. A wide variety of case studies are used to enhance your learning through application to real world situations. Two large case studies of real, international companies - one of them in video form – will help you understand the complexities of business and management and how different aspects of a business work together.

In Course 1 you'll learn what a business is and what distinguishes it from other types of organisations in the public and voluntary sector. You will gain a first insight into a business’s external environment and its main business functions, as well as into the nature of organisational structures, cultures and values.

In Courses 2, 3 and 4 you'll learn about three of the main business functions: human resources management, accounting and finance and marketing.

Course 2 looks at the people at work. You'll explore what motivates people to work, and how organisations select, train and evaluate employees. Throughout the Course you'll learn about both the techniques that organisations use to manage their employees and how these human resource management techniques are perceived by and impact on the people working in the organisation.

Course 3 gives you an accessible introduction to financial information for business. In this Course you'll learn how to read and interpret the main financial statements produced in a business, a crucial skill for any student of business and management.

Course 4 focuses on marketing, its importance in a business and how a marketing plan is put together. This includes collecting marketing research, understanding customer behaviour and tailoring products and services to meet customer requirements. You'll also learn about the significant role that marketing plays in contemporary consumer society.

In Coursees 5, 6 and 7 you'll explore the way in which business is embedded in its external environment.

Course 5 is about the economic and political context in which businesses and other organisations operate. You'll learn about topics such as supply and demand, the economic system, the role of central banks, and about the role of governments in making economic policy and regulating businesses.

Course 6 introduces you to the subject of business ethics. Businesses regularly face difficult ethical challenges, such as whether to use sweatshops to produce more cheaply or how to balance environmental concerns with the desire for growth. In this Course you'll explore some ethical theories that can help you to think through these issues.

Course 7 concludes the module with a look at the global context in which businesses operate. No matter how small a business may be, it will be influenced by globalisation. You'll learn what globalisation actually means, what drives it and how it impacts upon businesses. The Course concludes with a look at some of the key challenges posed by globalisation.

In summary, this module offers a broad and engaging introduction to the fundamentals of business and management in its global context.

What's provided

You’ll be provided with seven printed module books, each covering one block of study, and have access to a module website, which includes:

a week-by-week study planner

course-specific module materials including interactive online activities

audio and video content

assignment details and submission section

online tutorial access.


7
You and your money

This innovative module sets personal finance against its wider social, economic and political background. You'll be provided with a gentle introduction to aspects of economics, while also gaining practical tools and ideas on how to manage your own money effectively. The module is structured around four themes: the changing economic, political and social context; individuals, households and other relationships; economics and the real world; and the life course and financial planning. You'll study income, expenditure, debt, savings and investments, housing, insurance, pensions and caring, critically appraising the balance between personal and social responsibility for financial well-being.

What you will study

This module has three primary aims to:

  • give you the knowledge, skills, tools and confidence to manage your own money well
  • provide an introduction to the social sciences, especially economics, relating them to the real world in which we live
  • gently build and practise your study skills and employability skills as a strong foundation for your further studies at the OU and life beyond.

The study weeks are arranged in pairs with each pair devoted to a different topic. In the first week of each pair, you’ll read a chapter in the module textbook. This textbook has been specially written for this module and includes lots of activities to help reflect on the material, test your understanding and apply the ideas to your own finances. In the second week, you’ll consolidate your learning through a rich mixture of video, audio clips, slideshows, activities and interactive tools.

You can use the interactive tools to understand your own finances. For example, how tax affects your earnings, how much you’d need to save to reach a goal, what the repayments would be on a loan or mortgage, and your options for building up enough pension savings.

Throughout the module, you’ll share in the lives of 12 households, two each from the UK, USA, Germany, Sweden, Brazil and India, so you can compare financial experiences from across the globe and the factors that influence them.

Here is a taste of what you’ll study in each pair of weeks:

  • Setting the context. An introduction to the module themes. This includes some major world trends, such as ageing populations and the march of technology which are changing the demands on our money. You’ll look at the behavioural traits we all have that influence the way we interact with our finances, firms and each other.
  • Income. What influences pay, including worker power and gender issues. How the tax and benefits system affects your income and can be used to relieve poverty and reduce inequality. The way income flows between the different sectors of the economy.
  • Expenditure. Why we spend on what we do from rational choices about meeting our needs to the social factors and marketing influences that work on our more subtle desires for belonging or displaying our worth. In small teams with your fellow students, you’ll explore the world of symbolic advertising. Using cash-flow and budgeting to control your household’s spending.
  • Debt. Understanding the good as well as dark side of debt. How to identify the best ways to borrow and be aware of hidden costs. Using a household balance sheet to check whether you are vulnerable to debt problems. How household debt contributes to economic growth but perversely can bring down economies.
  • Savings and investments. Why low-risk products promising amazing returns simply don’t exist. Choosing the right products for different types of goals. Navigating the risk-return trade-off, with strategies for managing stock-market risk. Why saving matters to the economy.
  • Housing. How, in many countries, homes are more than just a place to live and may be driving a wedge between younger and older generations. Using the economic model of supply and demand, you’ll explore what influences house prices and analyse different solutions to making homes affordable.
  • Insurance. The role of insurance in building your financial resilience – your ability to withstand and recover from shocks and life events. The principle of risk-sharing and how it is being undermined by Big Data and other technological changes.
  • Pensions. The implications for you personally and society as a whole of saving for a pension and the ageing population. How saving for the long-term means battling our behavioural traits. The way different pensions work and what that means for the choices you make and the risks you run.
  • Caring and sharing. The short-term and long-term consequences of decisions about having a family and the social norms that surround unpaid work. The choices households and society face about caring for the elderly.
  • Personal finance in context. What does it mean to be ‘financially capable’? What are the options for society if all individuals and households are to enjoy at least a minimum level of well-being? 
What's included

You will be provided with a textbook that is written especially for this module and accounts for 50% of the study. The rest of the study uses the module website which includes:

a welcome forum at the start of the module 

a week-by-week study planner

module materials

cluster forum where you can communicate with your tutor 

10 interactive tools used in your study and can help manage your money

audio and video content

assessment guide

online tutorials and forums.

8
Economics in context

Why are markets so powerful in most economies today? What is the role of the government in different economies, and how does this role shape opportunities of different people and firms? What explains global inequalities? Why is economic growth such a key economic goal in most countries today? Are there other goals economies could pursue? You'll unravel these and similar questions using insights from recent history, key economic thinkers, and drawing on economic perspectives and examples. This module is a building block towards a critical perspective on economics and economic choices for our daily lives.

What you will study

This module primarily aims to:

provide you with foundations of economics and an initial set of skills and tools economists use

provide an insight into how economics and the economies have evolved over time

engage you with a large number of perspectives within and around the discipline of economics, and to embed standard economics in context.

There are three blocks of study as follows: 

Section 1

This provides a detailed historical analysis of how the UK economy, and its interactions with other economies, has changed since the 1700s. You'll look at some of the reasons why the Industrial Revolution occurred in the UK at that time. It also explores the themes of the module: change, agents and success, navigating through events in economic history, and in economics as a discipline.

Section 2

In this block you'll explore the market and the role of markets in societies. The view of economics that looks at economic agents and their motives in isolation is the foundation to thinking about markets as the interactions between these agents, and their measures of success; and also how markets operate within economies that have organised themselves, and their main economic activities, in particular ways. You'll look at the competitive model of the market and as economists often analyse formal models using diagrams – a key skill in the economist’s toolkit – extensive use of demand and supply diagrams is made to explain how the model works.

Section 3

This third block looks at economies in a more holistic way, critically reflecting on the best way of organising economic activities, and striking a balance between market activity and government intervention. The key areas that are explored are employment, industry and trade. You'll return to discussions of economics across time and place to explore the experiences and evolution of markets under different types of economic systems. This block will also give you the chance to measure and explain success through the use and collection of data sources, which is another important skill in the economist’s toolkit.

What's included

The module is delivered through a textbook, written especially for the module, and the module website which includes: 

a week-by-week study planner, your starting point every week

an online version of the textbook

module materials and activities

audio and video content

assignment details and submission section

online tutorial access.

The second stage 120 Credits

1
Shaping business opportunities

This module provides you with a broad grounding in business and management practice and study. You will explore how organisations work by looking at their internal functions (operations, finance and marketing). You'll also learn about the external environment and how the economic and political context helps shape how businesses respond to global challenges. Using a blend of text, audio, video and interactive online activities, you’ll develop vital skills for study and for work in business, public or voluntary sector organisations. Particular attention is paid to developing your critical thinking skills. You will also be introduced to mind mapping as a technique to help you express your ideas and creativity.

What you will study

This module is divided into five sections. These comprise an introduction and conclusion (both emphasising skills development), and three substantive courses each with a crucial theme that integrates the internal functions and external environment. 

Introduction

This introduces the rationale for the module and covers skills development around critical thinking, a skills audit, and mind mapping. We believe that developing your critical thinking skills fosters intellectual self-improvement, leads to a more creative mind-set, and allows you to become a better team player. You'll also be introduced to mind mapping as a potential technique to help you express ideas and creativity.

Course 1: Big ideas in organisations

No matter the sector, innovation is a key feature of the contemporary business context. This course explores why new products and services are imperative to contemporary business practice and why investing in their development is crucial to business growth and profitability. This course will provide you with a broader understanding of how innovation infuses the current business world and how internal business functions integrate to facilitate this.

Course 2: Competing in a global context

This course examines the significance of context for organisational innovation and the implications of globalisation for internal business functions. The course will then explore the consequences of the global vs local dynamic for a range of functional areas as well as point out the need for organisations and those who work for them to adapt these internationalising trends to local situations and contexts.

Course 3: Building long-term success

This course introduces you to the concept of fostering long-term value creation. Whilst Course 2 focused primarily on issues of geography and context, just as essential for successful organisational innovation is the impact of time. In essence, how can an innovative idea be effective in the long term as well as the short term? Key themes recurring throughout this course focus on ‘nurturing long-term value creation’, ‘understanding the sustainability of innovations’, ‘adapting to incremental and radical change’.

Conclusion

This final course draws together the diverse themes from the preceding courses and encourages you to reflect on what you have learned. In particular, it will make connections between the skills, knowledge and understanding that you have developed in different parts of the module and help you to reflect on how you can harness these for your personal and professional development; as well as prepare you for the end-of-module assessment (EMA).


2
Running the economy

This module responds to the need to understand the problems of running national and global economies in the wake of a major economic crisis. You'll start with macroeconomics, looking at how economies work from global and integrated perspectives, before moving on to microeconomics, drilling down into the behaviour of people, firms and governments. This combined analysis allows you to start exploring how policy affects, and is affected by, the economy and its constituent members. Using a simulator, you'll apply what you have learned, taking on the role of an economic analyst to make or advise on policy choices.

What you will study

You'll begin by developing an understanding of the sources and nature of the economic crisis in 2008 and the economic theories and policy vehicles for dealing with it. Your journey through the module will tackle key issues including:

the economic debates about the role of demand stimulus vs. fiscal constraint as the routes to recovery, monetary policy and the scope for supply side restructuring and growth

the challenge of international competition for policy makers in different parts of the globe, including low cost Asian suppliers, problems of European export competitiveness and the sources and location of innovation

the problems engendered by global imbalances in balance of payments (deficits and surpluses), credit and debt, rising inequality and the need for ‘rebalancing’ economies.

In the latter part of the module you’ll cover the microeconomic tools open to governments in trying to tackle some of these issues; regulation and privatisation/nationalisation; trade restriction and promotion; welfare state policies including health and education; international collaborations and harmonisation of policies.

Throughout the module you'll make extensive use of simulators, interviews, case studies and data to provoke reflection, analysis and deeper learning.

This module will be of interest to anyone who wants, at an introductory level, to:

learn how to think as an economist

understand the tools used by economists

construct and understand informed opinions about policy choices and the state of economies.

You will learn

You will emerge with a good grasp of some fundamentals of economic theory – both macro- and microeconomic – including the Keynesian aggregate demand model, the theory behind central bank inflation targeting and the application of basic game theory. In addition, you will gain an understanding of some key theoretical and policy debates in economics, as well as confidence in applying these theories and concepts to major economic policy challenges.

This module has a student-centred approach in developing and applying economic theories and debates to serious worldwide economic problems and the critical assessment of proposed solutions. The transferable and vocational skills you’ll gain include the ability to:

interpret, manipulate and critique economic evidence, including interpreting numerical data and basic statistical skills

compare and contrast the most prominent economic traditions and theories from the 1930s to the present day, widely used in public debate

build and support arguments in discussion and written forms

use and present modelling and simulation as methods of analysis of economic problems, including simulating the macroeconomy under different policy scenarios

engage in debates with other students, substantiating your arguments with economic theory and evidence.

What's included

You’ll be provided with a module textbook and have access to a module website, which includes:

a week-by-week study planner

module materials

interactive online activities

audio and video content

assessment guide

online tutorials and forums


The thrid stage 120 Credits

1
Strategic management

Are you ready to discover how strategic management can help to explain our dynamic world? In this module you’ll learn how to apply strategic management models and frameworks to real cases — from entrepreneurial companies to large multinationals and see how companies succeed in competition or how corporations expand internationally. You'll become able to make sense of the strategies of the organisations around you and strategic decision making. This module will also show how you can have an active role in the analysis of strategic contexts and in shaping and implementing strategy.

What you will study

In an ever-changing world, organisations must make strategic choices based on solid analyses and decision making processes. This module adopts an innovative teaching approach to illustrate how strategic management theories and models can be applied in different contexts and how they inform decision making. You will develop a skill-set founded on strategic management theory that will allow you to become an active actor in the strategy process that organisations deploy to ensure their long-term success.

The module is relevant to anyone interested in understanding how organisations can be managed strategically and sustainably. You will be exposed to the key theoretical frameworks that inform the understanding and practice of strategy, with particular attention paid to competitive and corporate strategy domains. You will apply strategic management models to real cases from different contexts and critically assess their implications for organisations and stakeholders at large.

You'll hear from managers and consultants and learn from their experiences in a wide range of examples and cases from several industries at national and international levels. The selection of cases ranges from traditional production companies to innovative businesses. You will also benefit from the experience of an international module team who has designed the module for practical application and use of strategic models and frameworks. A key feature of your learning will be a collaborative role play activity in the final phase of the module, where you will work as a consultant in a small team with other students to offer advice to a company and prepare a professional presentation.

Course 1

You’ll be introduced to key concepts in strategy and strategic management. There is much debate on what strategy is and you’ll learn different definitions and develop a clear understanding of what comprises strategic choices for organisations. You’ll also explore the core concepts of vision, mission, values, and goals. As strategic management is strongly connected with performance, you’ll learn how to evaluate a firm’s performance in financial and non-financial terms. There is also a section on corporate social responsibility to enhance your appreciation of performance indicators beyond financial performance. While engaging with these sections, you’ll develop your study and professional skills, starting with a skills audit, and with sessions on professional writing and on how to build an argument.

Course 2

You’ll examine the implications of the external and internal environments for strategy. The external analysis considers how external forces and competition in industry influence organisations and their strategic choices. The internal analysis looks at how resources and capabilities shape the strategies of organisations. The analytical frameworks from this Course will be complemented with an in-depth explanation of several core concepts and demonstrations of how you can apply them to real cases. 

Course 3

In this Course, attention turns to examining business and competitive strategies and how they influence how organisations conduct their business. Key considerations in the Course will be developing your understanding of the types of competitive advantage, focusing on cost leadership and differentiation. Special attention is given to explaining how companies adopt different business models and types, and how they can create value. You’ll be engaged in defining the value proposition of a new business as part of a role play in order to understand how several dimensions are interconnected.

Course 4

You’ll look at strategy at a corporate level and covers where strategic decision making takes place. Some of the most important considerations here will touch on vertical integration, diversification and internationalisation (drivers, location, speed, and outcomes). You will learn how organisations grow and expand following different strategies such as new greenfield operations, mergers and acquisitions, alliances and joint ventures. You will learn about emerging markets and how multinationals can operate in those increasingly important areas by leveraging their political capabilities.

Course 5

You’ll identify and assess the challenges and barriers in implementing strategies as you learn how to put strategy into practice by aligning its formulation and implementation. Core elements that influence implementation will be examined, including organisational structure, management systems, organisational culture and people management. In this final part, you’ll join a small group of other learners for a collaborative activity that feeds into your individual reflection for the end of module assessment.


2
Doing economics “people, markets and policy”

This module teaches economic theories that explain the behaviour of people in households, firms, markets and governments. You'll be presented with alternative economic explanations, enabling you to make your own critical judgements of which theory serves which purpose best. You'll also gain the research skills to conduct your own project on a topic you want to know more about. At the end of the module, you should have developed a more critical view of the socio-economic world in which you live.

What you will study

The module will equip you with the theoretical tools necessary to investigate recent developments in the global economy. A pluralist view of economic theory is adopted, enabling you to appreciate the debates between different approaches.

The module begins by teaching intermediate microeconomics with an emphasis on both economic theory and its applications. It is made up of the following three Courses plus an introduction to the methods used by economists to test the relevance of their models using data. 

Course 1: People and Households

You'll learn about the economic theories that apply to decisions taken in various contexts, such as consumption, labour market participation, savings, investment in education and training. You'll also look at how households, as well as individuals, can make decisions.

Course 2: Firms and Industries

This Course is about efficiency and productivity in the production of goods and services. It covers issues about choice of technology, entrepreneurship, innovation, employment relations, outsourcing and competition policy.

Course 3: Markets and Welfare

The final Course covers the overall organisation of the economy. It investigates the strengths and weaknesses of markets and governments in the organisation of economic activities, explores issues concerning the environment and ethics, and looks at economic theory that underpins government behaviour.

The second part of the module is project-based and divided into Course 4 and 5, plus some weeks to carry out your project; you will be able to specialise in an area of your choice and carry out your own research project. 

Course 4: Options

This Course teaches further economic theory and the various applications. You'll choose one theoretical strand to focus on from environmental economics, business and innovation, economics and society, or finance. You'll also start the journey towards your research project, by learning the main components of the project and how to carry out a literature review.

Course 5: Research methods

In this Course, you'll choose which research methods you plan to use for your project and learn more about those methods. You can choose between qualitative methods – which include interviewing and case studies – and quantitative methods, which involve analysis of economic data.

Project Work

In the last weeks of the module, you'll work towards completing a project of your choice which will be your end-of-module assessment.

What's included

You’ll be provided with printed module books, each covering one Course of study, and have access to a module website, which includes:

a week-by-week study planner

module materials

audio and video content

assessment guide

online tutorials and forums.


The tuition fee is £50 per credit • Students are allowed to register a maximum of 40 credits each semester and a minimum of 14 credits. • The student pays a one-time enrollment fee of 200 pounds when registering with the ISC • The student pays 100 sterling pounds per semester as the registration fee for courses. • The creditd = four actual hours.
The academic year is divided into three semesters. In each semester, the student is allowed to register for a maximum of 6 courses and two courses as a minimum. Classes are distributed as follows: • The first semester begins at the beginning of the third week of October. In the first and second academic week, students register the courses they wish to study during the semester, and students who are late in registration can join the class during this period. The seventh week of the semester is dedicated to conducting midterm exams. The twelfth and last week of the semester is a week dedicated to the final exam. The general average and grades are issued within the week following the final exams. • The second semester begins in the last week of January. In the first and second academic week, students register the courses they wish to study during the semester, and students who are late in registration can join the class. The seventh week of the semester is dedicated to conducting midterm exams. The twelfth and last week of the semester is a week dedicated to the final exam. The general average and grades are issued within the week following the final exams. • The third semester begins in the second week of May. In the first and second academic week, students register the courses they wish to study during the semester, and students who are late in registration can join the class. The seventh week of the semester is dedicated to conducting midterm exams. The twelfth and last week of the semester is a week dedicated to the final exam. The general average and grades are issued within the week following the final exams. • The mid-term vacation begins at the beginning of August and continues for the third week of October. • After the end of each semester, a two-week vacation is scheduled. The rate is calculated as follows: • 50% for the final exam • 50% to be distributed by the course teacher for the midterm exams and the classroom activities that the student performs. • The student is considered to have passed the course if he/she achieves an average of 60%. • The student is considered conditionally successful if he achieves a grade between 50 and 60% and has an overall GPA of no less than 2.5 out of 4.0. • The student obtains a bachelor's degree after successfully completing 48 courses of 360 credit hours.
Study duration The ISC provides study commensurate with the student's capabilities, especially in line with the student's absorption and the time allocated to study daily, given that the student may be able to study full-time and may have work that forces him to study part-time. We expect full-time students to be able to finish their undergraduate studies within 3-4 years. We expect our part-time students to be able to finish their Bachelor's degree in 5-8 years.
To study a bachelor's degree at ISC, applicants must have successfully completed a high school diploma, or its equivalent, from 12 years of schooling. At ISC, we believe that education should be accessible to all, which is why we offer a quality university education to anyone who desires to realize their ambitions and realize their potential.
30-Day Money-Back Guarantee

Includes

Full lifetime access
Access on mobile and TV