Economics of Business 15 credits at SCQF level 11

1. Overview

This module provides you with an ability to critically assess economic principles and theories relevant to the analysis of business behaviour and the economic environment in which business organisations operate.

On completion of this module, you will be able to:

  1. Critically evaluate the alternative theories of microeconomics and their implications for business.
  2. Critically assess concepts and principles underlining business activity.
  3. Apply the appropriate models and techniques for analysing the environment within which business organisations operate.
  4. Evaluate and synthesise the alternative theories and models of business behaviour.

2. What you will study

  • Economic concepts
  • Cost in theory and practice
  • Market demand and supply
  • Market structure
  • Business objectives
  • Pricing
  • Market failure
  • The domestic economic environment
  • International economic environment
  • Labour markets
  • Inflation

3. How you will learn

You will learn through a mix of online lectures, interactive group work and self-guided study.

All modules are credit rated and can be worth 5, 10, 15 or 30 credit points. This equates to the number of study hours required within the module, for example 50 hours for 5 credit points, 300 hours for 30 credit points. The SCQF modules can range from level 7 (undergraduate) through to level 11 (Masters) on the Scottish Credit Qualification Framework (SCQF). You can undertake individual modules or build them up to gain an exit award.

Find out more on progression and the framework on the SCQF website.

4. Entry Requirements

This is an online distance learning module for which we recommend you already have a good honours-level degree in relevant discipline or a minimum three years' professional experience in a relevant area.

All international students, for whom English is not their first language, should have either IELTS 6.5 or its equivalent in TOEFL.  You should note that modules taken through Professional Development@RGU are not eligible for Tier 4 sponsorship.

5. Placements and Accreditations

This module is approved as being an acceptable element of an individual Further Learning plan for Chartered Engineer registration in that it meets the requisite content, academic level and academic rigour expected of an approved Further Learning plan.

6. How to apply

For general enquiries please call 01224 262180 or email

To apply for the course, complete the Professional Development @RGU Application Form

7. Prospects

This module is part of the MSc Management course. After successfully completing this module, you could progress to other modules or apply to join the MBA or MSc Management programme with possible exemptions available for modules you have already completed.

8. Assessment

This module is assessed by a portfolio coursework including contribution to module activities.

9. Fees and payment options

The fee for this course is £950

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15 credits at SCQF level 11

Start Date


Course Length

12 weeks

Mode of Attendance

Online distance learning

Academic School
Aberdeen Business School
More Information:
Professional Development General Enquiries 01224 262209

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Connect Professional Development @ RGU