ACCT50115: Business Economics and Accounting

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• To develop skills in the application of economic analysis in business decision-making and planning
• To provide students with a critical understanding of key economic aspects of the business environment and the impact of changes in that environment at national and international level
• To provide students with an understanding of accounting information; its forms, purpose and the needs of its users

• Markets, information and transaction costs
• Organisations, costs and the profit motive
• Competition and welfare
• Strategic behaviour by firms
• Global business and the macroeconomic environment
• Performance and business decisions
• Corporate financial statements and their interpretation
• The role of management accounting information

Subject-specific Knowledge:

• Have a specialist knowledge and understanding of: the importance of, and interaction between demand, costs and prices at the level of the firm and the market; the interrelationship between the competitive environment, government policy and business decisions.
• Have a critical understanding and appreciation of the complex nature of the economic business environment.
• Have a critical knowledge and understanding of the use of financial data within organisations.
• Have an appreciation of the management accounting function and its role within an organisation.
• Have a specialist knowledge and understanding of corporate financial statements and their analysis.

Subject-specific Skills:

• Be able to apply economic understanding in the analysis of business decisions.
• Be able to apply management accounting techniques.
• Be able to evaluate corporate performance and position through analysis of financial statements.

Key Skills:

• Written communication; planning, organising and time management; problem solving and analysis; using initiative; computer literacy.

• The learning outcomes will be met through a combination of lectures, guided reading, individual exercises and group discussion of case studies.
• The summative assessment will be in two parts. The takeaway assessment will test students knowledge and understanding of the Economics subject-matter, and will be issued only a short time (i.e. several days) before the submission date. The examination will test students understanding and appreciation of accounting information and its uses.

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