The modern business world is characterised by rapid change from globalisation, technological advancements and increased customer expectations.
More than ever before commercial enterprises need to develop a sound understanding of the competitive environment in which they operate, the resources needed to succeed and where to allocate them to reach their objectives.
This course aims to apply the principles of microeconomics and macroeconomics to business orientated decision making, covering issues such as the impact of firms outsourcing jobs from the UK, the difference in wages between workers and the regulation of business to ensure competition. Recent graduates have found employment in managerial careers at companies such as Vodafone.
As one of the largest Business Schools in Europe, Coventry is rated ‘excellent’ by Eduniversal and the 6th best in the UK for Economics by the Guardian University Guide 2019. You’ll benefit from industry-standard facilities, including the largest academic trading floor in Europe. Our experienced teaching team will share their professional or research expertise, having worked for organisations such as the Financial Service Authority, run national training courses for the Economics Network and published in leading journals, including The International Journal of Economics and Business Research.
The Business Economics degree is one of three pathways we offer in Economics; the others being Economics and Financial Economics.
For greater flexibility, all of our Economics degrees have a common first year. This gives you the chance to experience and achieve a thorough grounding in economic concepts and principles, along with relevant quantitative techniques and skills, before you make your decision about which area you’d like to specialise in, depending on your interests or career aspirations.
In the first year, we will study core subjects including microeconomics, macroeconomics, mathematical techniques for economics and data analysis skills for economics. Then, if you choose to follow the Business Economics pathway, you will have the chance to gain a deeper understanding of the business sector. We will take a more in-depth look at how economics affects individual firms, their environment and the decisions those businesses subsequently have to take. We may examine issues such as the factors that determine the differences in wages between workers, bonus policies for senior managers in failing firms and whether regulators are ensuring fair competition.
Given the importance of human resources within organisations, we place an emphasis on the theoretical and empirical tools developed by economists to analyse the employment relationship. We will have the opportunity to analyse in detail a selected number of human resource issues, such as compensation schemes, performance measures, training, discrimination and the impact of government programmes. Traditional analysis of principal-agent theory will be complemented by evaluating recent developments in behavioural economics that focus on the psychology of incentives, including the effect of bonuses and piece rates on productivity, and what makes a good performance measure.
You also have the choice to take an optional placement or study abroad year after completing your first two years. In the past, our students have gone to work for NBC Universal, Ford Motors and the Government Economic Service (GES). Others have opted to study economics for a year at California State University San Marcos, and Charles III University of Madrid.
Why choose this course?
The ever-changing global economy makes headlines on a daily basis, shaping the world in which we live socially, politically and economically. Consequently, there is a strong demand in businesses throughout the world for economics experts who can contextualise a financial situation, spot opportunities for savings and profit or identify the root of financial problems.
Student satisfaction is consistently high and our track record for graduate employability is exceptional – with 100% of students in work or continuing their studies six months after graduation (DLHE 2014/15). Recent graduates have found careers with PricewaterhouseCoopers (PwC), the Bank of England, Government Economic Service (GES), Vodafone and HSBC, among others.
This course, one of four pathways offered in the field of economics, aims to give you a thorough grounding in economic concepts and principles, along with all the mathematical, computing and statistical tools you will need to make informed financial decisions. We will provide you with the training to help you to think like an economist; you will have the opportunity to become adept in numeracy, IT and the use of statistical methods, developing advanced skills in problem solving and decision making.
A major strength of our course is its practical focus; you’ll have opportunities to participate in skills development workshops with direct involvement from the Government Economic Service (GES), including a mock assessment center specifically designed to familiarise you with the Civil Service Fast Stream application process, ideal for those considering a career in the public sector. We will also provide opportunities to participate in a range of economic experiments based on real-life situations, including a trading floor game, international trading game and the chance to run your own production line.
Through the use of online assessments and research workshops, we aim to ensure you are familiar with the key analytical techniques that economists use in practice, from statistical analysis to theoretical modelling, using bespoke economics tools like WinEcon, which was developed in conjunction with Coventry University.
You also have the opportunity to apply for a work placement, which in the past has seen students working for a wide range of organisations and companies, including the GES, PricewaterhouseCoopers (PwC), Barclays and the Bank of England (subject to application and availability).
International experience opportunities
If you opt to take a sandwich year, it is possible to spend a year studying or working abroad as part of your studies. Our overseas partner network continues to expand, especially in China, India and the USA. You will have the opportunity to apply for a work placement or study abroad for a further year in Europe through the Erasmus Socrates scheme and there will be staff on hand who can help you do this.
We can also support you in finding an internship both here in the UK or abroad. Past students have gone to work in countries as far afield as China to teach English as a foreign language and Belgium to work for Toyota.
A key advantage of this degree is that, as well as providing highly sought after skills in economic analysis, it aims to give you extensive exposure to how businesses and other organisations operate in widely different international markets.
Through interaction with students from different countries and regular input from current professionals, you’ll already have made a start in building your professional network of peers from across the globe; one of the many reasons why 95% of Economics graduates were in work or further study after six months (DLHE 2014/15).
Students can benefit from our long-established links with HM Treasury and other government departments, which regularly offer a number of internships, as well as a unique mentoring programme for our students. Each academic year at least 10 second year students are paired with employees of different departments and can explore a variety of tasks and career opportunities, receiving assistance in the design of their curriculum vitae with a view to future employment.
On successful graduation, you should possess an in-depth knowledge of economic theories and models, with strong analytical and problem-solving skills and mathematical ability. You should also be able to demonstrate a wide range of desirable professional skills, including: team working; critical evaluation; self-directed learning; problem-solving; action planning and organising; written and oral communication; questioning and listening. The following personal qualities will also be addressed in each of the skills modules: achievement orientation; initiative and creativity; self-confidence; decisiveness; reflectiveness; adaptability and flexibility.
On successful completion, you should be well placed to pursue a wide variety of careers in investment banking, accountancy, tax consultancy, the public sector, auditing, derivatives trading, management consultancy, mergers and acquisitions, and many more. Recent graduates have found employment in a wide variety of careers at managerial level with prestigious employers including PricewaterhouseCoopers (PwC), Bank of England, Government Economic Service (GES), Vodafone and HSBC. A number have also gone on to postgraduate study and professional training such as teaching.
Coventry University is committed to preparing you for your future career and giving you a competitive edge in the graduate job market. The University’s Careers and Employability team provide a wide range of support services to help you plan and prepare for your career.