BA (Hons) Economics for Business
Why choose this course?
Exciting and dynamic, our BA (Hons) Economics for Business is a modern degree where you will focus on applying economics to the real world.
- Develop all the professional attributes expected of an economist in business or organisational consultancy
- Gain vital hands-on experience in our brand new Bloomberg Financial Markets Lab
- Apply latest economic theories to businesses, markets, industries and countries using up-to-the-minute data and information services
- Work on consultancy projects where you can solve real problems for real businesses
- Take an optional placement year or summer internship to raise your professional profile
- Learn from inspirational experts at the forefront of the profession
- Build a broad portfolio of business, research and analytical skills to enhance your career prospects
- Gain the ideal platform to join graduate management and financial training schemes or to progress to postgraduate studies
UCAS code: L346
Start date: September
Course length: Full-time: three years (four years with a placement year). Part-time: up to six years
Campus: Kedleston Road site, Derby Campus
College: College of Business, Law and Social Sciences
This course is available to international students
About this course
We’re committed to nurturing forward-thinking economists with the skills, vision and analytical thinking to shape any organisation’s success. Our BA (Hons) Economics for Business programme equips you to handle economic data, undertake research and analysis, and reach the high standards of professional practice you will need as an applied economist.
At the cutting edge of economics
Our exciting new Bloomberg Financial Markets Lab is the ideal setting for you to gain hands-on experience, working with the same information and technology used by financial professionals all over the world.
You will gain vital insights into trading floor activities and financial market analysis, harnessing software used in financial markets worldwide and dealing with up-to-the-minute data. It will give you a whole new perspective on what it is like to work in this fast-paced arena.
We are one of only a few universities to have invested in such exceptional learning facilities in partnership with Bloomberg, the global business and financial information leader. It puts a wealth of data at your fingertips, including company and director profiles plus analysis of current affairs from Bloomberg Intelligence.
You will receive training from Bloomberg specialists, have access to their helpdesk and can even work towards the Bloomberg Market Concepts Certificate alongside your degree to boost your professional profile.
Economics with a difference
We specialise in applied economics, which will set you apart from graduates of more traditional economics degrees. The focus is on giving you a solid grounding in economic theory but then using that theory to address real-world challenges.
Your learning experience will be dynamic and stimulating, full of practical scenarios in which to hone your skills. You could find yourself creating an investment portfolio, taking part in business panel debates and broadcast interviews, presenting your economic analysis at conferences, or creating videos to bring your research findings to life.
Because our emphasis is on economics for business, you will engage with employers throughout your studies. The Applied Economics Project gives you the chance to draw on the full toolkit which a professional economist uses by solving a real problem for a real business.
We also encourage and support you to take an optional year-long work placement or summer internship to deepen your insights into how effective economic analysis can improve organisational practice.
Add substance to your CV
We offer you an exciting opportunity to gain an additional award to showcase your versatility and professionalism to potential employers. The Futures Award has been developed specifically for our Economics students and gives recognition to any extra-curricular activities you undertake to improve your employability and career development, build your experience of networking and advance your leadership and consultancy skills.
Your work towards the Futures Award could entail attending workshops on CV design and improvement; developing techniques for interviews, assessment centres or psychometric tests; taking part in networking events; or leading a small project within a student society or voluntary role.
As part of your studies, you could showcase your know-how and raise your professional profile in prestigious competitions. In December 2016, our students scooped two major awards in the University Trading Challenge, pitting their wits against fellow undergraduates and postgraduate students from leading institutions countrywide.
The competition comprised a simulated trading market which tested the students’ abilities to strategise, analyse and present their ideas to a panel of traders and bankers in the City of London. This was the fourth year running that our University teams returned from this event with coveted awards.
An expert team to inspire you
Our industry experienced and research active teaching team will support and motivate you to achieve at a high level. They are undertaking influential research on some of the most pressing economic issues facing society, from behavioural economics to public policy, the green economy to the economics of innovation and technological change. They publish widely, including one of the main economics textbooks used in universities.
The team’s extensive links with the business community – as well as experts at the forefront of the profession – enhance the practical focus and currency of the degree. There are numerous opportunities for you to meet and interact with businesses and industry experts. You’ll hear about latest developments in the City from high-profile figures such as our visiting professor, Lloyds Chief Economist Trevor Williams. Our students have also attended major events addressed by the likes of Dr Ben Broadbent, Deputy Governor - Monetary Policy for the Bank of England or have become active members of our Business and Entrepreneurial Society and our Network of Entrepreneurs.
What you will cover
To complete the BA (Hons) Economics for Business, you'll study modules such as:
Markets, Prices and Strategy
Go behind the business news headlines to develop your skills in analysing markets, pricing and business strategies. We will build your understanding of the economic information found in news reports and how it influences business decisions. Drawing on up-to-date case studies from around the world, we introduce you to microeconomic models and how these can be applied in a real context.
Introductory Mathematics for Economics
Delivered via a mixture of lectures and problem-solving seminars, this module combines basic economic theory with mathematical techniques. You’ll develop both your quantitative skills and your abilities to analyse data so that you are well equipped to make business decisions affecting everything from supply and demand to revenue, cost and profit schedules. We use real-world data, accessed via Bloomberg and other sources.
Academic Skills for Accounting and Economics
We equip you with research, reflective thinking and communication skills which will serve you well in your future academic and professional career. Centred on a series of individual research tasks, this module focuses on how to source relevant contemporary information and how to present arguments coherently for different audiences and in different circumstances. We cover research strategy and methodology, the use of referencing systems, and research ethics in economics and accounting.
Market Failure Analysis
You’ll gain a broad understanding of the economic theory of market failure and the way it can be used to analyse consumer choice, business activity, market activity, industrial development and the impact of government policy. You will apply the theory to latest case studies, using real time data on firms and markets from the Bloomberg database. We help you develop your skills through a problem-solving approach and a mix of analytical exercises.
Introduction to Macroeconomic Concepts and Data
Building your knowledge of how the economy of a country works as a whole, this module looks at some of the ‘big issues’ in macroeconomics – economic growth, inflation, unemployment, debt and deficit. We analyse the ups and downs of the economy, including government monetary and fiscal policies, how interest rates are set and how taxation levels are determined. There is also the chance to engage with local businesses to discuss how macroeconomics affects their performance and productivity.
Finance and Business Performance
You’ll learn how to prepare accounts for small businesses and then apply that knowledge to larger organisations, examining accounting statements to assess just how well a business is performing. The aim is to hone your skills in interpreting situations and diagnosing problems so that you can improve business performance. This module covers areas such as double entry bookkeeping, sole trader accounts, basic company accounts, evaluating sources of finance and business costs, and how to use budgets as a form of control.
Applied Intermediate Macroeconomics
You will focus your efforts on applying economic theory to real-world data, policies and current events so that you can make sense of the economic world around us and develop informed opinions about the issues of the day. We take an applied approach to macroeconomic topics such as economic growth, inflation, unemployment, financial markets, interest rates, investment, and policy making in an open economy. You’ll learn how to work with and present economic data in ways which are essential for business economists operating in today’s globalised world.
To become a good analyst, you need strong practical skills allied with an understanding of why, how and when different techniques are appropriate and the ability to interpret and communicate results to others. Through practical classes in computer labs, this module will develop your capacity to use Excel and SPSS software for economic analysis for business. We cover primary data generation, sampling, data extraction, manipulation and presentation as well as parametric and non-parametric tests.
We provide you with vital insights into pricing strategies, market concentration, market performance, and the organisation of firms including multinational enterprises. There is the chance to meet with business leaders to discuss how industrial structure and industrial policies affect their productivity. As part of the module, you will undertake in-depth analysis of the structure, conduct and performance of a selected industry.
Public and Third Sector Economics
This module will help you become a better-informed and engaged citizen as you explore topics which directly impact your everyday life, from the taxes you pay to the public transport you take. We examine issues such as the economics of democratic elections and voting; the power and control of bureaucracies; and the way traditional public sector administration is being reshaped to emphasise citizen participation and the involvement of the third sector such as non-profit organisations and charities. As part of the module, you will complete a 15-minute video on a topical issue relating to public and/or third sector economies.
Current Debates in Applied Economic Theory
From austerity to national debt, privatisation to inequality, this module enables you to delve into latest political debates and to apply economic thinking to a range of real-life contemporary issues. We adopt a historical perspective to build your understanding of economic theory and give you the chance to evaluate government responses to current issues. To complete the module, you will deliver a broadcast interview presenting your arguments on a topical theme, supported by written work applying economic analysis to the issues you discuss in your interview.
You’ll also choose one of the following options:
Logistics – looking at all the stages involved in the creation and sale of a product, from the sourcing of materials for the manufacturer through to final delivery to the end user.
Marketing Communication – considering different elements of the marketing mix and how brand values are used to establish competitive advantage.
You can choose to take an optional placement year between stages two and three.
International Business Economics
For this module we will discuss major global economic shifts and latest theories on the globalisation of business. You will deepen your understanding of international trade and foreign direct investment, examining the importance of government and institutions in controlling and regulating international business behaviour. You will also gain insights into the workings of the international financial system and the challenges faced by multinational companies when dealing with foreign exchange and interest rates.
Economics of Sustainable Business Growth
Culminating in a mini-conference to which you will contribute a poster presentation, this module focuses on how businesses can and should respond to sustainability issues. Using numerous real-life case studies and analysing the UN Global Compact, you will explore the ways in which businesses and governments can better integrate the needs of the environment, people and profits in the short and long term. You will develop your own ideas and propose potential solutions to the challenges of sustainable growth that face businesses at local, regional, national and international levels today.
Applied Economics Project
Drawing on your knowledge of economic perspectives, statistics, data collection and analysis, you will undertake a small-scale economic research project and develop skills which are critical for any economist working in business consultancy. You will be introduced to the work of professional economic analysts and engage with local organisations to identify what type of economic analysis would help their business. Your small-scale project analysis will be presented in the form of a final report, judged by a panel of economists and, where appropriate, business consultants.
You will also choose two from the following options:
Financial Risk Management – looking at the methods that organisations can use to manage the risks of trading in global markets, and equipping you with the practical skills to build risk management strategies.
Marketing Across Cultures – introducing you toa range of issues and concepts encountered by international marketers, whether they are seeking to establish operations abroad, facing greater global competition or dealing with foreign suppliers.
International Purchasing and Supply Chain Management – exploring how the sourcing and outsourcing of materials, and the engagement of service providers, are taking on an international perspective which has brought dramatic change to the role of purchasing.
Investing and Financial Markets – where youwill build and track your own portfolio of investments and analyse its effectiveness and performance, drawing on major themes from economics, finance and psychology.
International Banking – examining the special role played by the banking system in the world economy and looking at banks both as providers of services to international businesses and as international businesses themselves.
The way UCAS Tariffs are calculated is changing in 2017. The entry requirement below reflects this change. Read more about these changes.
September 2017 typical entry requirements UCAS points 104 (up to 16 from AS-levels) Specific requirements at A-level N/A Specific requirements at GCSE Five GCSEs at Grade C or above, including Maths and English Interview / Audition N/A Portfolio N/A
Use our UniPoints app as a guide to calculate your UCAS Tariff points, search for courses and check entry requirements for 2017 and beyond.
Our entry requirements for this course should be read together with the University's general entry requirements, which details subjects we accept, alternative qualifications and what we're looking for at Derby.
How to apply
- Full-time students applying in September should apply for this course through UCAS
- Part-time students should apply directly to the University
- Students applying in September should apply for this course through UCAS.
Information for international applicants
Fees and finance
Full-time Part-time UK/EU
£9,250 per year
£1,155 per module
£11,750 per year
Fees for 2018/19 entry are still being decided, so please check back later in the year for more information.
How you will learn
How you will learn
Real world learning is at the heart of this programme. The focus is on solving genuine business and organisational problems.
We use a compelling combination of interactive lectures, expert speakers, problem-solving seminars, group work, group discussion, workshops, case study analysis, computer lab work and practical analysis. Throughout your studies, you will also engage with businesses and external experts to discuss various economic issues and concepts.
At the start of the course you will benefit from substantial direction from our teaching team. As your studies progress, you are expected to work more independently, taking greater responsibility for your own learning – but always with the support and advice of your tutors.
How you are assessed
You will be assessed in a number of ways, from computer-based assessment and business reports to applied economics projects which showcase your analytical and quantitative skills. You are expected to develop professional analysis experience through data retrieval and quantitative analytics using Bloomberg and appropriate computer-based analysis harnessing Excel and SPSS.
Your research and consultancy skills are assessed via a mixture of poster presentation and reports, including the Applied Economics Project where you could have the opportunity to undertake a live project involving a business.
Who you will meet
At Derby you’ll discover a friendly and supportive learning community, with small classes where you will receive plenty of one-to-one advice.
You will be taught by an enthusiastic team who are experienced in all aspects of economics and whose research will enrich your learning. They are supported by industry experts, including our Visiting Professor of Banking, Professor Trevor Williams who is Chief Economist at Lloyds Bank PLC.
The teaching team includes:
Programme Leader for the BA (Hons) Economics for Business, Nicola is also Head of the Economics and Finance Division at Derby Business School. An applied economist researching on public policy issues, she has particular interests in areas such as the impact of business networks at micro and macro levels and the development of industrial, enterprise and economic policies. She is currently leading a research project which involves an economic impact study of the Buxton Festival. Nicola is dedicated to providing a learning environment where students can develop academically and personally, with a strong emphasis on teaching economics in an applied manner.
As well as teaching on this course, Melanie leads our MSc International Business and Finance and our MSc International Business and HRM. She is widely published and the joint author of a leading Economics textbook, published by Pearson Education and used extensively in universities. Her research focuses on applied economics, behavioural economics and financial market behaviour. As a teacher, she is committed to giving students a new way of looking at the world which nurtures their confidence, decision-making skills and a lifelong fascination with economics. She is the co-author of the University’s monthly Economic Bulletin.
Eugene leads our suite of International Business programmes at both undergraduate and postgraduate levels. His focus is on encouraging students to apply economic reasoning and critical thinking. His academic interests are centred on behavioural economics and their implications for personal financial wellbeing (particularly pensions) and the application of behavioural insights to macroeconomic and business policymaking. He is the co-author of the University’s monthly Economic Bulletin.
Senior Lecturer inEconomics and Finance, Weiwei teaches various modules on the course. Her research interests lie in areas such as banking efficiency, market competition, corporate governance and corporate social responsibility. Her teaching philosophy is to inspire students to move from passive to active learning.
Senior Lecturer in Economics and Business, Daphne has research interests which span applied economics, public economics, corruption, business performance, management practices and e-government. She gained valuable consulting and research experience at the World Bank and the European Bank for Reconstruction and Development.
Lecturer in Economics, Sayantan conducts research into areas such as international trade, economic development and public policy. He has published on various aspects of trade, economic growth and public expenditure in India.
Like most universities, we operate extended teaching hours at the University of Derby, so contact time with your lecturers and tutors could be anytime between 9am and 9pm. Your timetable will be communicated after enrolment on your course.
Careers and employability
An Economics degree adds real kudos to your CV. If you’re aiming for one of the UK’s highest paying graduate jobs, Economics is among the top ten subjects to take. (The Independent, September 2015). It could be your stepping stone to a lucrative graduate training scheme or a well rewarded financial consultancy role.
Our focus on problem-solving and practical economic analysis extends your career scope further still, opening doors to a much broader range of opportunities than with a more traditional economics degree.
Economics graduates with knowledge of business and leadership – who can shape policy and drive change – are in great demand today. Your skills will be valued across the public, private and voluntary sectors anywhere in the world. Alongside roles in international business, consultancy and finance, you could pursue opportunities in government departments, development agencies, charities and not-for-profit organisations.
While the majority of graduates enter business and finance professions, others follow careers in areas such as HR, marketing, PR and sales.
To enhance your future prospects and potential, our course features specialist career sessions for economists. These help you to build an impressive CV and social profile to assist in applications for placements, internships and jobs.
Many Economics graduates also decide to take their studies to the next level. You can consider progressing to any of the exciting masters programmes offered by Derby Management School – such as the MSc International Business and Finance, MBA Global Finance, MSc International Business, MSc International Business and HRM or MSc International Business and Marketing – and get a 10% alumni discount on your fees.
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