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Study information

Introduction in Economics and Company Finance - 2023 entry

MODULE TITLEIntroduction in Economics and Company Finance CREDIT VALUE15
MODULE CODEENG2016 MODULE CONVENERUnknown
DURATION: TERM 1 2 3
DURATION: WEEKS 11
Number of Students Taking Module (anticipated) 25
DESCRIPTION - summary of the module content

This module will provide essential knowledge on economics and company finance. A special focus will be on managing high-growth, early-stage enterprises, especially those with innovation-based products and services. You will work in teams to develop skills and approaches necessary to becoming effective entrepreneurial leaders and managers. The topics include understanding business models, analysing key operational metrics, modelling cash flow and capital requirements, evaluating sources of financing, and managing the interplay between ownership and growth. You will learn how to produce standard financial documents such as balance sheets, income statements, cash flow forecasts, and profit and loss statements. You will also learn how to do simple manufacturing and project costing. 

AIMS - intentions of the module
This module is designed to raise your awareness of economics, accounting and finance. This module will equip you with the skills required to make simple financial forecast forms and statements for start-ups and projects, and to operate in the commercial environment.
INTENDED LEARNING OUTCOMES (ILOs) (see assessment section below for how ILOs will be assessed)

ILO #1: Develop an understanding of the economic context of industrial and entrepreneurial activities

ILO #2: Comprehend the basic economic, regulatory and financial issues relating to industrial and entrepreneurial activities

ILO #3: Plan, complete and interpret standard financial documents: Balance Sheet, Profit and Loss account, Cash Flow forecast

ILO #4: Understand and apply costing tools and methods

ILO #5: Demonstrate an awareness of the requirements regarding financial aspects of the company as they apply to professional engineers

ILO #6: Understand and demonstrate familiarity with the processes of risk assessment in finance

ILO #7: Work in teams to analyse problems, find and optimise solutions, and communicate the entire process to audience

ILO #8: Enchance critical thinking, communication, report writing, and organisational skills

ILO #9: Reflect on the personal and other group members contribution to the group work 

BEng AHEP3 ILOs covered on this module:
SM1p-SM3p, D1p, D4p, D6p, ET1p-ET6p, EP1p, EP4p-EP6p, EP8p, EP9p, G1p-G4p
 
MEng AHEP3 ILOs covered on this module:
SM1m-SM3m, D1m, D4m, D6m, ET1m-ET7m, EP1m, EP4m-EP6m, EP8m-EP11m, 
G1m-G4m
 
SYLLABUS PLAN - summary of the structure and academic content of the module

This module is designed to introduce you to the economic environment and how this fits with entrepreneurship and engineering, as well as how tasks are carried out, and some elementary financial tools used by entrepreneurs and engineering managers. The module it will equip you to make simple financial appraisals of business ideas and projects, and to operate in the commercial environment.

The knowledge you gain from this course will be useful for your appreciation of higher level courses, especially in quantitative business analysis.


1: Introduction to the economic environment, market systems, government policy, management objectives, and financial constraints;

2: Introduction to entrepreneurial finance;

3: Company accounts, financial returns for small enterprises, profit and loss, balance sheet;

4: Introduction to costing, cost centres, earned value analysis, forecast vs actual costs;

5: Direct and indirect costs, overhead apportionment;

6: Activity based costing;

7: Break-even analysis;

8: Budgeting and cash-flow, investment appraisal.

LEARNING AND TEACHING
LEARNING ACTIVITIES AND TEACHING METHODS (given in hours of study time)
Scheduled Learning & Teaching Activities 22 Guided Independent Study 128 Placement / Study Abroad
DETAILS OF LEARNING ACTIVITIES AND TEACHING METHODS
Category Hours of study time Description
Lecture 11  
Tutorial 11  
Independent study 128  

 

ASSESSMENT
FORMATIVE ASSESSMENT - for feedback and development purposes; does not count towards module grade
SUMMATIVE ASSESSMENT (% of credit)
Coursework 50 Written Exams 50 Practical Exams
DETAILS OF SUMMATIVE ASSESSMENT
Form of Assessment % of Credit Size of Assessment (e.g. duration/length) ILOs Assessed Feedback Method
Exam - written exam 50 2 hours (Summer) 1, 2, 4, 5, 6, 7 Exam marking
Coursework - financial forecast of a startup - group project 50 20 hours 3, 4, 5, 7, 8 Written feedback
         
         
         

 

DETAILS OF RE-ASSESSMENT (where required by referral or deferral)
Original Form of Assessment Form of Re-assessment ILOs Re-assessed Time Scale for Re-assessment
Exam - written exam
Exam - written exam (2 hours)
1, 2, 4, 5, 6, 7 August Ref/def Period
Coursework - financial forecast of a startup - group project Coursework - financial forecast of a startup - group project 3, 4, 5, 7, 8 August Ref/def Period
       

 

RE-ASSESSMENT NOTES

Reassessment will be by coursework and/or written exam in the failed or deferred element only. For deferred candidates, the module mark will be uncapped. For referred candidates, the module mark will be capped at 40%.

RESOURCES
INDICATIVE LEARNING RESOURCES - The following list is offered as an indication of the type & level of
information that you are expected to consult. Further guidance will be provided by the Module Convener

Reading list for this module:

There are currently no reading list entries found for this module.

CREDIT VALUE 15 ECTS VALUE 30
PRE-REQUISITE MODULES None
CO-REQUISITE MODULES None
NQF LEVEL (FHEQ) 4 AVAILABLE AS DISTANCE LEARNING No
ORIGIN DATE Wednesday 10th July 2019 LAST REVISION DATE Wednesday 18th January 2023
KEY WORDS SEARCH None Defined

Please note that all modules are subject to change, please get in touch if you have any questions about this module.