Principles of Economics
In a nutshell
A programme that gets to the heart of many of the most significant challenges faced by governments and organisations across the globe, Business and Economics equips you with highly employable skills and prepares you for a career in a variety of industries.
Economics is a consistently central topic of media discussion and, throughout the programme, you will study real examples and examine the implications of the theories explored in the real-world of economics. With a curriculum that is career-focused and industry-informed, you’ll learn how to translate insights from economic models into business strategies and economic policies.
Studying these complementary subjects together provides an excellent introduction to business and economics and gives you the knowledge required to succeed in high-level and rewarding employment.
Our academic and professional services teams are here to support you throughout your degree and prepare you for your future career. In 2019, 100% of students asked agreed that the course provided them with opportunities to apply what they learnt and that they have been able to contact staff when they needed to (NSS 2019).
- Develop advanced theoretical knowledge and transferable skills
- Gain practical experience of our Bloomberg Trading Suite
- Explore contemporary economic issues
- Receive support from an academic team that achieved 94.74% overall satisfaction (NSS 2019)
This is for you if..
You want to learn how economics plays a vital role in business
You are interested in the issues facing governments and global organisations
You want to learn from looking at real-world examples
All about the course
At Salford Business School, we place employability at our core. This means that the modules on the Business and Economics programme are designed to reflect the current needs of employers. Between your second and third years, you’ll have the opportunity to take part in an additional work placement to put your skills and knowledge into practice and enhance your CV. You will not pay university fees during this year and will earn a salary for the work you do.
You will start the programme by studying a number of core modules that will provide you with an understanding of key business and economic concepts. Following your first year, you’ll continue to develop your skills and ultimately undertake more specialised modules that reflect your interests or chosen career path.
During certain modules you will have the chance to make use of Salford Business School’s Bloomberg Trading Suite. The Bloomberg terminals help to bridge the gap between theory and practice: using the latest technology, they improve your analytical skills and allow you to practice decision-making using the latest global economic data.
Taking part in a professional experience year gives you the opportunity to gain industry insight, put learning into practice and boost your employability.
This module introduces you to the key concepts of modern economics, including how markets function as the foundation of contemporary economies
Principles of Accounting
This module gives you a theoretical and practical introduction to the basics of accounting, including how to prepare financial statements.
Principles of Human Resource Management
You will learn about the important contribution of Human Resource Management policy and practice to employee and organisational success in the UK and internationally.
Principles of Marketing
You will receive an introduction to the theory and practice of marketing - an essential service to the long-term prosperity of organisations and businesses - and apply these principles to real life situations.
Digital and Business Skills
Digital and Business Skills offers an introduction to the fundamental skills you need for high level careers in a range of organisations. Communications, presentation and professional profile tools will be used to develop your knowledge and employability.
In your first semester, you will follow the Inspiring Digital Enterprise Award (iDEA) which helps you to develop your digital skills through a series of online challenges and events. This looks great on the CV too!
Data Analysis for Business
In Data Analysis for Business, you will develop an understanding of the concepts required for the use and interpretation of the quantitative methods used to analyse business data. You will practice your essential Excel skills and learn to use Minitab, a statistical software package used by companies to spot trends, solve problems and use data to gain insight.
This module prepares you for entry to more advanced studies dealing with quantitative analysis in business and economics.
This module enables you to study the application of microeconomic theory to issues and problems, including the decision-making of individuals, households and firms, strategic behaviour, and market failures.
This module provides you with analytical skills and an ability to develop simplifying frameworks for studying macroeconomics. It explores the economic principles used to design, guide and interpret commercial, economic, social, and environmental policy.
This module will enable you to plan and carry out appropriate professional development activities to increase your employability and performance. These include self-presentation, professional networking, project planning and implementation, team working, influencing and multimedia communication. You will gain all the necessary experience required to take advantage of global employment opportunities.
This innovative module has been nominated for the Course and Curriculum Design award in the 2018 Guardian University Awards. One participant commented “It was thanks to this module that I gained a much better understanding of what employers are looking for and where I stand in comparison to that from the marks and feedback received… This proves to me I do have the experience and competencies sought after by employers. Realising this has really boosted my confidence.”
Legal Aspects of Business
This module introduces you to the operation of global legal systems and the areas of law that underpin the practice of effective business management. You will develop a working knowledge of law relating to contracts and their effective negotiation in different business environments.
In the Project Management module, you’ll develop a critical understanding of effective project management within a global business context. The module facilitates an understanding of project management skills, techniques, methods and tools and their applications and limitations.
Financial Markets and Institutions
In this module, you will develop your knowledge of financial markets and institutions and learn how to apply financial theories under a practical context. You will analyse the role of regulation within financial markets and evaluate academic literature that is related to them.
Through the Econometric Analysis module, you will form an understanding of essential econometric concepts and learn how to identify different types of econometric datasets and make effective forecasts using business and economic data.
International Business Strategies
Through the International Business Strategies module, you will evaluate the key issues that impact international business in relation to varying corporate strategies. You will also examine the main strategic and international methodologies employed in the global marketplace and explore the components for formulating and implementing successful strategies.
Professional Experience Year
All of our BSc students can apply for a one year professional placement, which takes place between your second and last years of study.
This is an excellent opportunity to take advantage of and over the last five years, 90% of Salford Business School undergraduates taking a one year placement secured a 2:1 or 1st class Honours degree.
We will help you find out about vacancies and make the right connections with high profile employers through regular events and presentations.
Here is just a small selection of the companies our students have enjoyed placements with so far: NatWest, Barclays and the Cooperative Bank; BP, Esso and Shell; IBM, Hewlett Packard and Compaq; Ford, Vauxhall, Jaguar and Nissan; Marks & Spencer, Selfridges and Sainsbury’s; Eli Lilly, Glaxo and ICI; Fujitsu, Marriott and Virgin.
International Monetary Economics
This module critically reviews the major concepts, relationships and models in monetary economics. It analyses and assesses the links between money, national economies and central banks. You will learn how to appraise the role of money in the international economy and critically assess the performance of alternative international monetary regimes.
Business Ethics and Sustainability
This module equips you with an appreciation and in-depth understanding of the implications of Business Ethics, Corporate Social Responsibility (CSR) and Sustainability within national and international organisations. This module will also develop your knowledge with respect to the importance of the balance between shareholders, stakeholders and the purpose and values of the organisation. It will explore the roles of social and technological innovation in global ethical organisations in order to prepare you for future employability.
You will acquire an organisation-wide perspective by exploring strategy techniques and processes operating in the global environment. This module prepares you for a career in business and management.
Applied Game Theory
You will critically appraise the economic concept of uncertainty and explore the methodology of game theory to integrate uncertainty into economic analysis. You will also analyse real-world conflict situations and explore their resolution in diagrammatic and mathematical formats.
Economics of Industrial Organisation
This module develops your knowledge of the core economic principles relevant to the analysis of competition and competition policy. You will analyse and critically evaluate models of competitive markets and apply economic principles to problems and policy issues related to competition.
Investment Management introduces you to the theoretical framework of modern investment and portfolio management. Through the module you will empirically test the validity of models that rely on risk-reward relationships and gain an understanding of the nature and risk of modern financial instruments.
Economics of Sustainable Development
Through this module, you will lean to apply economic analysis to key topics in environmental sustainability and economic development. You will critically explore the trade-offs between economic growth, social equity and environmental sustainability.
Brand Marketing aims to help you develop an understanding of the theories, principles and practice of branding. Through the module, you will explore the enduring importance of branding, receive an introduction to brand management and practice making brand related recommendations in the context of real-life international brands.
Please note that it may not be possible to deliver the full list of options every year as this will depend on factors such as how many students choose a particular option. Exact modules may also vary in order to keep content current. When accepting your offer of a place to study on this programme, you should be aware that not all optional modules will be running each year. Your tutor will be able to advise you as to the available options on or before the start of the programme. Whilst the University tries to ensure that you are able to undertake your preferred options, it cannot guarantee this.
What will I be doing?
Our teaching is industry-led, inspired by contemporary practice and developed in partnership with business leaders. Our academics are experts in their field and work closely with industry to ensure that our courses reflect the needs of business and provides you with that extra edge when it comes to securing a job.
Teaching is delivered through a combination of lectures, seminars and tutorials using a wide range of learning activities. You will experience small group tutorials during your First and Second year module studies. This ensures you will be highly skilled in time for your placements, year abroad experience and final year studies.
In certain modules, our Bloomberg Trading Suites will be used to bridge the gap between practice and theory. By using the terminals, you gain exposure to technology used widely across the financial sector as well as live global economic data.
Over the duration of your course a range of assessment techniques will be used. Types of assessment include:
- Multiple choice tests
- Online tests
- Group reports
- Portfolio work
The weighting between exams and coursework varies between modules and years, but exams still play a major role.
Salford Business School
Salford Business School aims to be the most business-informed, industry-relevant business school in the UK. Industry shapes everything we do, from informing our students’ learning to providing work placements, driving our research and influencing our academic staff.
We want you to gain the best academic and personal experience possible. As a student here, you’ll have access to a range of experiences and opportunities, including internships and work placements in the UK or internationally so you graduate with much more than a degree.
Salford Business School is located at the heart of the University’s Peel Park campus and just minutes from Manchester city centre. Teaching facilities include Lady Hale and Chapman buildings, which offer stylish modern spaces with lecture theatres equipped with the very latest technology and large screen displays. A dedicated Employability team will help you with work placements and access to work skills.
In our Bloomberg Trading Suite in Maxwell building, you can develop your trading experience, improve your analytical skills and practise financial decision-making using the latest global economic data.
Throughout campus, there is a choice of individual study areas, communal learning and breakout spaces, plus a selection of food outlets.
What about after uni?
Our comprehensive range of business and management undergraduate degree course are highly respected by leading employers and have been designed to maximise your opportunities for embarking on a career with organisations seeking high calibre business graduates.
On the business and economics programme, you will gain valuable new skills which prepare you for work, graduate entry into management training programmes, or further study.
Our graduates go on to enjoy careers in insurance, corporate planning, applied research, systems analysis, banking and wealth management with organisations such as NatWest, PricewaterhouseCoopers and KPMG.
The University of Salford grew out of the institutes of the late 19th century that provided a talented, technically proficient and professional workforce to support the UK’s rapidly growing industries. In the 21st century, this still holds strong. Whilst industry has changed significantly, the need industry-focussed education is equally relevant today.
We teach the skills that employers need and as a result, our graduates enjoy excellent international career prospects.
The curriculum across our undergraduate courses balances academic teaching and professional experience, allowing you to apply theory in practice in a way that has been proven to produce highly employable, articulate business professionals who have forged the contacts that will help develop their future careers.
What you need to know
This course offers excellent scope for any student wanting to start a career in management, finance, marketing and a variety of other different business areas. Knowledge and expertise in economics and business are highly sought after by employers across a wide variety of sectors. This course will appeal to a range of applicants and there is no need to have studied these subjects before to be successful.
ENGLISH LANGUAGE REQUIREMENTS
Applicants will be required to show a proficiency in English. An IELTS score of 6.0, with no element below 5.5, is proof of this.
English Language and Maths at grade C/level 4 or above (or equivalent).
You must fulfil our GCSE entry requirements as well as one of the requirements listed below
UCAS Tariff Points
BBB with a minimum of two A2 passes
BTEC National Diploma
Access to HE
112 Points – Pass with a minimum of 45 credits at Level 3 and 15 at Level 2
120 points from a minimum of two Advanced Highers
Irish Leaving Certificate
120 points from a minimum of two Higher Level Subjects
Indicatively 31 points for International Baccalaureate Diploma
Pass Diploma with 60% or above
Salford Alternative Entry Scheme (SAES)
We welcome applications from students who may not meet the stated entry criteria but who can demonstrate their ability to pursue the course successfully. Once we have received your application we will assess it and recommend it for SAES if you are an eligible candidate.
There are two different routes through the Salford Alternative Entry Scheme and applicants will be directed to the one appropriate for their course. Assessment will either be through a review of prior learning or through a formal test.
|Type of study||Year||Fees|
|Full-time home/EU||2019/20||£9,250per year|
|Full-time international||2019/20||£13,740per year|
You should also consider further costs which may include books, stationery, printing, binding and general subsistence on trips and visits.
All set? Let's apply
Course ID N1LC