BA Joint Hons Economics & Marketing

The ICE Pathway - “Innovation, Commercialisation & Entrepreneurship”, where you'll learn about the Foundations of 'What is Business’.  Alongside:

• Personal & Professional Development: Who am I? How Do I learn? How do I lead & work in a team?
• Knowledge & Practice: What is a business/organisation? Why does this matter? How does this affect society?
• Experiential Learning: Real-world cases & clients; team-based and student-centred Learning approaches

This module includes two thematic parts which run in parallel across the semester. One part, Introduction to Tourism Studies, introduces tourism management as both, international business and as a global cultural phenomenon.

It provides insights into key concepts and theories to understand the intricacy of this industry in commercial, cultural and environmental terms. The other part, Managing People, focuses on the contemporary and practical issues of how people are organised and managed in the workplace and examines different theoretical perspectives which help our understanding of the complex relationship between the employer and the employee in the contemporary business environment.

The module will provide you with a balanced introduction to economics which will be based on a programme of systematic directed reading, supplemented by experiments and exercises undertaken in tutorials. 

The module uses the innovative CORE (Curriculum Open-Access Resources in Economics) Econ resources, which provides a complete introduction to economics and the economy. CORE Econ teaches about the economy and economics by starting from a question or a problem about the economy - why the advent of capitalism is associated with a sharp increase in average living standards, for example - and then teach the tools of economics that contribute to an answer. This innovative approach ensures that students understand how the tools of economics can help us understand the modern economy. 

The second half of the module is the study of how analytical thinking, scientific method and associated tools can be used to help decision making. This Business Analysis element of the module will provide an overview of where methods and tools are widely used across a large range of industries including the manufacturing, retail, healthcare, financial services, travel, and electronics industries, as well as in local and national government. 

Examples of where Business Analysis is put into practice are: 

• the management of new building projects
• the design of efficient transport systems and plant layouts
• personnel scheduling
• allocation of resources and financial modelling and forecasting

This area of expertise can help to reduce costs, increase revenues, improve customer service, increase efficiency and can even save lives. 

The aim of this module is to provide you with a solid foundation and understanding of the theories and principles underlying marketing and entrepreneurship. A combination of the subjects will be taught to enhance understanding of the way the two disciplines address issues related to both the macro and micro-environment contexts of markets and entrepreneurship.

Marketing is everywhere in contemporary society. It plays a central role in business as it is concerned with the creation and retention of customers. The module is designed to give you a foundational understanding of marketing and a critical introduction to the topic of marketing in both theory and practice through a series of lectures and workshops.

In your first-year class you will explore the core concepts of value and exchange. You will learn what marketing is and its core principles such as analysing the marketing environment, developing a marketing strategy, and dealing with the marketing mix i.e., product, price, place, and promotion. You will learn how organisations develop a customer centric approach to marketing and how that can create a competitive advantage in a dynamic business environment.

The assessment for this module will involve individual coursework.

In this module, you will be exposed to concepts and ideas from economics, sociology, psychology, geography and other social sciences, all in the context of the competitive business environment.

Entrepreneurship too is a complex process involving many different skills and activities, though it is based upon a 'mindset and process by which an individual or group identifies and successfully exploits a new idea or opportunity. For this part of the module, you'll be working in teams to learn about the ideation process, which forms the foundations of new venture creation, in our Creative Challenge.

This module will provide you with an introduction to finance and accounting, covering the basic concepts and practicalities of corporate finance, the principles of valuation, financial management and business investment, the role and purpose of company accounts and their usefulness, security analysis, risk and returns from investments, and personal finance.

At all times the module content will be linked with financial behaviour and events in the real world.

This module introduces learners to the field and practice of international business and management.

Drawing on classical and recent debates in theory and practice including, but not limited to commercial concerns, learners will be equipped with an understanding of the foundational principles and developments of the subject.

In the module, we consider how international business and management is researched, and facilitate a critical understanding based on real-life case studies in international contexts. This module gives learners the capacity to look at the past, present and future in organisations and provides the foundations for intellectual progression in the subject, and broadly, for year two and beyond.  

This class aims to support you in developing key skills that are important to both your academic and future career. These include skills associated with:

• research
• data analysis
• critical writing
• team working
• communication

Topics

Semester 1 topics include:

• Working in Business Organisations
• Working Business Research & Consultancy
• Working Internationally
• Working in the Third Sector
• Rhetorics & Oratory

Semester 2 is about developing the proposal of Management Development Programme 3; with a presentation and a final report.

Class description

The second year concentrates on developing understanding through industry-specific contextualisation. Sessions are weekly and three hours in length.

The sessions are thematically linked to the pathways for individualised experience in third year whilst also drawing on the theoretical knowledge developed in Management Development Programme 1. In order to develop understanding, organisations will deliver a half-day session. This consists of a one hour plenary introduction where the company and case study are introduced. This is followed by the group sessions where you undertake activities in relation to the case study set by the company.

This is the core Microeconomics class in Year 2. It aims to develop your understanding of: the concepts of consumer choice; the motives of the firm and profit maximisation; the market and its role in achieving equilibrium prices and quantities; and the implications of market power. It introduces you to mathematical techniques commonplace in Economics, giving you the ability to apply these in a wider economic context.   

The class builds upon the macroeconomic foundations established in the first year Economics class and both extends and deepens analysis. This class will develop your ability to use key macroeconomic models and will also provide an introduction to the analysis of economic data. 

Many of the fundamental concepts of marketing are based on an ability to understand consumers and how these concepts can be implemented more effectively when adequate information about the market and potential consumer behaviour is available.

In this module you will explore factors that influence consumer behaviour and shape consumption practices. The module will draw upon psychological theories to examine how memory, social influence, personality, attitudes and learning influences consumers. You will develop an understanding of consumer behaviour from both managers and consumers perspectives.

The module will also introduce you to key concepts and techniques in market research and how market research can be used to understand consumers changing behaviours. The module will provide you with an in depth understanding of qualitative and quantitative research methods and prepare you for practical market research projects.

You will also gain an opportunity to acquire an industry recognised qualification from the Market Research Society.

The assessment for this module is a combination of individual and group coursework.

The service sector is large and a growing feature of the UK economy. In addition, most manufacturing, and product-based organisations (e.g., IBM) encompass extensive service functions as well as product operations. As consumers, we purchase services everyday- be it retail banking, shopping at a supermarket, going to a restaurant, visiting the hairdresser, using transportation services, or engaging with experiential services such as tourism, sports, theatre. Therefore, it is important to understand the problems and challenges in designing and delivering high quality services for customers and businesses.

This module will encourage you to explore and reflect on real world services. The module will help you understand the unique characteristics of services and how service organisations require a distinct approach to marketing strategy both in its development and in its execution. You will draw upon your foundational learning knowledge of marketing in Year 1 such as the marketing mix and further learn about the extended marketing mix.

The module will also provide you with insight into service retailers. You will learn about key elements of service retailers that influence the development of retail strategies and the interaction between consumers and retailers at both in-store and online operational levels. You will also develop an understanding of the dynamic nature of supply chains and innovative distribution channels. You will explore different retail contexts and the supply chain relationships required to create value alongside strategies for sustainable practices.

The assessment for this module is a combination of individual and group coursework.

The third year of centres on individualised experience in an organisational context through one of the following pathways:

• Internship/Charities - gain practical experience in a private or third sector organisation. You need to negotiate and locate your own organisation and experience – this is one of the key learning points of the pathway.
• Research and consultancy - a facility for local small businesses to gain from the experience and expertise of those within Strathclyde Business School. You work on two live business consultancy projects (one in each semester) and, as a team of six, develop solutions and strategic initiatives for the local SME economy.
• International experience – only available for students who are undertaking an international exchange for either one semester or full year.
• Vertically Integrated Projects - working on a cross-faculty basis to research longitudinal projects (including the ‘Bill Gates Toilet Challenge, Solar Panels for Gambia and Enterprise in Schools) you work with a team of students from all levels of study (first year undergraduate to final year PhD) to further the work of the project.

In addition, you’re required to undertake a social responsibility element (this accounts for one quarter of the overall workload).

These have been designed to provide support to the Curriculum for Excellence and the Widening Access to Higher Education programme. There are no formal classes for Management Development Programme 3 although there is pathway support with the pathway leads and tutor support.

Adam Smith's hidden hand - markets result in efficient outcomes - doesn't always work. We seek to understand why by using the tool of game theory to analyse how agents interact and discuss market power and externalities.  We then consider other issues in public economics including cost-benefit analysis, fiscal federalism, taxation and crime.  You will also learn more about how to analyse microeconomic data.

This class builds on the Macroeconomics you studied in second year by covering four topics in detail:

• models of economic growth
• the effects of macroeconomic policy in an open economy
• the interrelationships between money growth, output, unemployment and inflation
• the implications of high government debt. 

You will also learn more about how to analyse macroeconomic data. 

Every business, organisation and media outlet relies on traditional and digital communications to communicate their products and services to consumers and businesses. As the change and consumption of different media continues to increase, there is a demand for graduates to embrace new technologies and engage in innovative content creation for traditional and digital marketing communications.

In this module you will explore the various forms of traditional and digital marketing communications. You will gain an understanding of the strategic role of marketing communications and the integration of both traditional and digital communications to develop a marketing communications plan. You will further explore the role of social media marketing and mobile marketing in the digital world and learn how to develop a digital marketing campaign using a range of digital tools such as SEO, PPC, Google AdWords etc.

The assessment for this module is a combination of individual and group coursework.

The module aims to equip you for a career in strategic marketing in various industries. It is important for marketers to obtain a good understanding of various perspectives on marketing strategy and to develop the ability to evaluate, design and implement a sustainable and profitable marketing strategy. 

In this module you will learn strategy formulation and planning aspects associated with strategic marketing in domestic and international contexts. The module will further stimulate your thinking around questions such as:

1. Why some products or services succeed and why others fail?
2. What are the challenges involved in designing and implementing a profitable and sustainable marketing strategy?

The assessment for this module is a combination of individual and group coursework.

The dissertation is an important part of the fourth year programme. Single Honours Economics BA students are required to submit a dissertation in Economics while Joint Honours BA students may submit a dissertation in Economics or in their other Honours subject. 

Information Economics, the topic of this class, considers market failure resulting from uncertainty and information asymmetry. The course looks at two specific examples of market failures: moral hazard and adverse selection. We will discuss policy solutions to reduce the negative impacts of these market failures on society. We will also apply uncertainty to game theory and learn how to find Bayesian Nash Equilibria. Furthermore, we will examine the impact of externalities on social welfare and learn about the optimal provision of public goods.

This class aims to provide you with the required tools to understand current macroeconomic issues, such as the interactions between the banking sector and monetary policy or the policy responses to the global financial crisis.  Throughout the class, the analytical usefulness of the theoretical models taught is illustrated with real-world examples. 

This course investigates the actions that firms in an industry might take to preserve their profit in that industry, and the implications that this has for competition policy and regulation. We take an analytical approach to the issues which will be supported by examining case studies and current events. 

In third year, you will have learned about regression in both a cross-sectional data and time series data context. This class extends that knowledge to two core topics: causal inference and forecasting. Both are highly relevant topics to real-word economics. Understanding the effects of economic policies and decision-making requires careful empirical analysis and understanding of what the data can and cannot tell us. Topics on causal inference build skill in this area. Furthermore, policymakers and economist often want to know something about what to expect, for example of unemployment, given what has happened recently and in the past. Topics in forecasting build skills in this area.

In causal inference, we begin with foundations on how to think about correlation vs. causation and threats to interpreting regression model coefficients as causal effects. We then introduce two methodological approaches. These are instrumental variables and difference-in-differences. Under both we develop the intuition and key assumptions that will allow interpreting statistical results from a regression model as a causal effect from a variable or policy change of interest. We further work with example cases in labs and learn how to implement the methods with data in R, and we use tutorials to think about these methods in action and continue developing the intuition.

In forecasting, we will introduce you to basic tools needed to become a forecaster, such as understanding what a loss function and forecast horizon is. In addition, you will learn various forecasting evaluation techniques to compare competing models.

This class gives a balanced view of the role of finance in promoting long-run economic growth, but also booms and busts. The nature and role of financial intermediaries will be introduced, and, afterwards, formally addressed in a simple aggregate growth model. Empirical evidence will be examined, before turning to the specifics of micro-finance. The importance of financial globalisation will also be investigated. Finally, the rest of the class will be devoted to deciphering the causes and consequences of the current financial crisis.

Behavioural Economics offers alternative theories that merge psychological insights with economic theory and are based on experimental and other evidence, that attempt to provide a better explanation of real-world behaviour.

This class is concerned with exploring these behavioural theories with the aim of providing you with an expanded toolkit with which to approach ‘real-world Economics’ that is based on the burgeoning Behavioural Economics literature that has emerged over the past two or three decades.

After studying this, you should be able to extend much of your previously-learned knowledge in Microeconomics in various directions that take into account more realistic ways of modelling how individuals behave.

The class provides you with an introduction to Natural Resource Economics, Environmental Economics and Energy Economics, establishing connections between the economics and the policy aspects of the class topics. It focuses on the contributions of Economics to understanding environmental, energy and natural resource problems, their causes, and the design of effective public policies to counteract them.

The importance of brands raises significant questions of how to develop brand equity and how to communicate a branding strategy of differentiation, value and identification. The role of the Brand Manager is reviewed along with formulating the necessary communication strategies to build brand equity and secure market share.

More recent approaches in this vein suggest that the traditional Brand Management approach is all too limited, leaving many questions unanswered. Consequently more recent approaches address the co-construction of brand value, through viral branding, using social media, co-branding and brand extensions. In this respect, the principles of branding are now being applied beyond simply new product development, to such strategies as places, communities and countries.

Other key strategies that may be discussed include, luxury branding, nation branding, business-to-business branding and corporate brands.

This course aims to build foundational knowledge of traditional commercial-oriented Marketing, by examining applications of Marketing in a social context. Each year millions of pounds are spent world-wide to combat health and social problems such as HIV/AIDS, smoking, drug and alcohol abuse and rising obesity levels. At the same time excessive consumptions burdens society with building landfills and increasing pollution. Meanwhile there are still people who consume 'too little' and who suffer from hunger.

The class considers recent research in a variety of Social Marketing contexts and material is continuously updated to ensure that students gain an understanding of the most relevant and critical Social Marketing trends.

This class provides students with an understanding of some of the contemporary issues and challenges in understanding consumers. Building on the undergraduate Consumer Behaviour class, this module aims to develop students’ ability to analyse consumer behaviour in a variety of situations and to explore the complexity of 21st century consumption.

The class reviews consumer trends and the significance of consumer culture, and then explores topics that are the focus of recent research attention. Current topics include consumer identity (possessions and body image); consumer vulnerability; postmodern consumers; consumer tribes; consumption spaces; consumers and celebrities and consumers and ethics.

This class examines the theoretical underpinnings which help explain the operations of such enterprises, covering both international business strategy and international business management. This will be achieved by exploring contemporary issues in academic thought and international business practice.

The class will create a learning environment in which students can enhance their knowledge of relevant marketing communications theories and develop the necessary analytical, creative and decision-making skills required to effectively manage IMC in a variety of contexts.

This class provides you with an opportunity to study and apply marketing principles and concepts to a sector that has gained increasing significance in society world-wide. We’ve witnessed the emergence of a sports culture in many countries. This, in turn, has led to the emergence of sport as a global industry.

Sport is one of the most important sectors in the UK in terms of spectator interest, participation and consumer spending. It is also a varied industry consisting of sports products as well as sports services, spectator sports, sports media and sport-related travel.

This class explores sustainability and the role of marketing in society as an agent of change. Marketing as a discipline is often tarnished by the assumption that it focuses on encouraging overconsumption, driving sales for sales sake and is misleading the public. Whilst this is often true, marketing also has a substantial role to play in tackling the biggest challenges in our society, and in particular driving societal discourse and market change towards the attainment of the Sustainable Development Goals (SDGs).

This class builds from a foundation of evidence-based marketing, driven by systems thinking, understanding full product and service life cycles and fact-led decision-making. Ensuring the claims made and communication approaches employed are substantiated, well-designed and targeted at change for good. A number of different techniques are explored to identify and exploit vectors for change through different approaches to understanding market systems, targeting key stakeholders to drive change, and marketing tactics for reshaping market, organisational and consumer behaviour. The class is an advanced marketing class, assuming a sound grounding in areas of consumer behaviour, branding, strategic marketing and marketing research as a foundation on which more advanced concepts can be built.