SHE Level 1
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M1L124359
Module Leader Marissa McDonagh
School Glasgow School for Business and Society
Subject Economics
  • A (September start)
  • B (January start)
  • C (May start)

Pre-Requisite Knowledge


Summary of Content

This module will enable students to identify and analyse the main economic issues affecting the world today. The module will provide a framework of analysis for international economic issues including: allocation of resources; the identification of the main drivers of economic growth, understanding of economic systems; sustainability and environmental challenges; measuring comparative economic performance; international trade; regional integration; theory and policy of managing the economy. The module supports the PRME objects by providing a framework for students to undertake critical analysis of how sustainable economic and societal value is created and managed, and reflect on their own role in the global economy.


World economic problems: scarcity and the allocation of resources. What is economics? Economic theory, terms and analysis. Economic systems: main features and problems. The main determinants of the international economic environment. Measuring and comparing economic activity and performance. Theory and practice of international trade: from comparative to competitive advantage. Exchange rates and international trade. Foreign Direct Investment. Trends and determinants. Regional economic integration. Managing the economy: national and international perspectives.

Learning Outcomes

On successful completion of this module, the student should be able to:1). Identify the main economic challenges facing the world today.2). Understand key aspects of economic theory and terminology.3). Be able to measure economic performance and undertake comparative economic analysis.4). Critically analyse the determinants of economic growth.5). Demonstrate an understanding of the theory and practice of international trade and regional integration.6). Be able to consider issues of sustainability and environmental challenges.7). Understand how the economy is managed at national and international levels.8). Identify and appreciate the main factors which influence and shape the international economic environment.

Teaching / Learning Strategy

The learning and teaching strategy will consist of one hour of issue based lectures and one student-centred seminar per week. The lectures will provide a framework for students to develop their knowledge through self-directed learning. The seminars will focus on relevant real world issues. Blended learning will be used with students working on group blogs, group presentations, individual essay and class tests. The module will be research-led with teaching staff delivering state of the art knowledge on current international economic issues. The assessment strategy will consist of a group presentation and group blog, an individual essay and an unseen examination at the end of the module. GSBS will continue to use the advancement of GCU Learn as a blended learning tool through its teaching and learning as well as through engagement with students. GSBS will ensure that all modules are GCU Learn enabled and with the support of the Learning Technologists at the cutting edge of development of online materials. Academic staff and the Learning Technologists will continue to work together to develop and operate all modules on GCULearn to ensure student support and information sharing. Students are provided with formative and summative feedback via a variety of mechanisms. Feedback on coursework is provided within 3 working weeks of submission.

Indicative Reading

Rugman and S. Collinson; International Business (6th Edition); Prentice Hall 2012 J. Sloman Essentials of Economics (6 th Edition) 2013 S. Wall & S. Minocha & B. Rees International Business (3 rd edition) 2010 Online sources: <> Web page for the Organisation for Economic Cooperation and Development (OECD) links to statistical databases on economic performance in a wide variety of countries <> Directory of international business resources. <> The official EU page on the web. Links to Eurostats and member states. <> Search engine for locating published academic articles on a wide variety of topics. <> Web page of The Economist good source of information and data on countries and international business developments <> Web page of the World Trade Organisation (WTO)

Transferrable Skills

Analytical and critical thought Data analysis skills Problem solving Independent learning and self-management Ability to assess and debate complex concepts and issues Development of academic writing and case study analysis Participate in group work Develop presentation skills

Module Structure

Activity Total Hours
Assessment (FT) 54.00
Lectures (FT) 22.00
Independent Learning (FT) 104.00
Seminars (FT) 20.00

Assessment Methods

Component Duration Weighting Threshold Description
EX1 Exam 01 2.00 40.00 35% Unseen exam
CW1 Course Work 01 n/a 30.00 35% Individual blog entry
CW2 Essay n/a 30.00 35% Individual essay1500 words