Economics and Financial Literacy
10 Credits (ECTS)
Economics and Financial Literacy
Get 70% back via Tax Credit
Module Description
This module introduces both microeconomics and macroeconomics with practical relevance to business decision-making.
Through this module, students also acquire foundational financial literacy skills needed for understanding organisational sustainability and financial planning.
Entry Requirements
Candidates who apply for this course (which does not lead to a regulated profession) will possess:
- A qualification at MQF Level 4 (one ‘A’ Level or equivalent in any subject) and a pass in English Language* and Mathematics at MQF Level 3 (‘O’ Level or equivalent).
- In the case of students who do not possess all the formal required academic qualifications, then the Recognition of Prior Learning (RPL) process could be applied such that if evidence of equivalent learning is found then the applicant could still be accepted on the course. Such RPL process will subject applicants to an interview held with a board of experts within the field, chosen specifically by IDEA College, so as to verify their experiences and prior learning.
*Students whose first language is not English and do not possess an ‘O’ level pass in English Language will be required to demonstrate English language capability through certifications such as IELTS certificate with a score of 6.0 or OET with a minimum score of B in speaking and at least C+ in listening, reading and writing.
Target Audience
- Individuals aspiring to build fundamental knowledge and skills in Management as part of a first-cycle (undergraduate) degree.
- Individuals aiming to pursue diverse career paths in areas such as business administration, marketing, human resource management, operations, entrepreneurship, and project management.
- Individuals seeking employment or career progression in sectors including private enterprise, public administration, non-governmental organisations (NGOs), retail, finance, hospitality, and emerging industries.
- Individuals interested in developing transferable skills such as leadership, communication, problem-solving, and strategic thinking, which are applicable across multiple professional contexts.
Career Paths
This programme does not lead directly to a regulated profession. However, it equips graduates with the academic background and practical competencies required to pursue professional development opportunities.
The possible positions for which this programme aims to prepare, are middle-management to senior posts such as: Manager / Senior Manager / Head of Department / Director etc., of any organisation both in the private and public sector.
The programme also provides a foundation for further studies at postgraduate level in management or related disciplines.
How you’ll be assessed
The course comprises:
- Evening classes for part-time courses.
- Classes held throughout the day for full-time courses.
- Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
- Self-study hours comprising research, reading and assignment work.
Assessment
Assessment is carried out via two mandatory components:
- Modular Assessment
- Summative Assessment
The programme includes different forms of assessment which allow for and promote students’ critical engagement. The formative and summative assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.
Learning Outcomes
Competences:
At the end of the module/unit the learner will have acquired the responsibility and autonomy to:
- Understand the fundamentals of microeconomics.
- Examine key macroeconomic indicators and policies.
- Develop foundational financial literacy skills.
- Apply economic reasoning and financial decision-making skills to manage personal or business-related financial activities effectively.
Knowledge:
At the end of the module/unit the learner will have been exposed to the following:
- Understand the fundamentals of microeconomics.
- Examine key macroeconomic indicators and policies.
- Develop foundational financial literacy skills.
- Apply economic reasoning and financial decision-making skills to manage personal or business-related financial activities effectively.
Skills:
At the end of the module/unit the learner will have acquired the following skills:
- Interpret economic indicators such as inflation, GDP, and unemployment, and assess their implications for business decisions.
- Apply fundamental financial literacy concepts (e.g., budgeting, interest rates, investment returns) in personal and organisational contexts.
- Use numerical data effectively to analyse, explain, and justify business scenarios and outcomes.
- Communicate economic and financial information clearly and appropriately to non-specialist audiences.
- Exercise sound financial judgment and problem-solving skills in varied and unpredictable contexts.
Module-Specific Learner Skills:
The learner will be able to:
- Interpret basic economic indicators and apply them to business scenarios.
- Demonstrate understanding of financial concepts in real-world contexts.
- Use numerical data to support arguments and decisions.
- Present own discussion and developments in a logical and organised manner through approaches of critical feedback and self-reflection.
- Engage with peers and/or team members to share and reflect on own development.
Module-Specific Digital Skills and Competences:
The learner will be able to:
- Navigate through the online learning platform to benefit from assignments, discussion boards, literature, tutorials etc.