EBSC4120 : Business Economics for the Creative Industries


University for the creative arts


Business Economics for the Creative Industries

Module Code

EBSC4120 : Business Economics for the Creative Industries

Economics is not something that should be restricted to the realm of professional economists
or academics, it affects almost everything we do. It not only has relevance at work or at the
shops, but also at home to when we elect our governments. It influences how well we; look
after the environment, care for the poor and disadvantaged, can allocate resources for us and
others to enjoy, and what we leave for future generations.
This unit is designed to equip you with the toolkit and give you the practice in applying this
toolkit so that you can discover just how useful economics really is. At the outset, the unit will
introduce you to the central issues of scarcity and choice, and the extent of government
involvement in decision-making. The unit outlines economic reasoning and discusses how
our understanding is advanced by the interaction between theories and practical application
with particular context of the creative industries.
As the creative economy advances simultaneously with technological development and
increased globalisation; the study of economics has evolved to respond to modern threats
and opportunities. In this unit you will be introduced to the fundamental and dominant
economic theory, alongside exploration of contemporary and emerging economic concepts
and modelling,

• Economic theories & histories

Page 3 of 12

Page 5 of 13
• Economic models (traditional and modern)
• Creative economy
• Macroeconomics
• Microeconomics
The aims of this unit are:
A1. Introduce you to the main theoretical concepts and ideas in economics so that
you can relate economic theory to the real-world creative economy.
A2. Equip you with the tools necessary to analyse current economic issues and
develop your appreciation of the extent to which modern economic concepts
can be applied to problem-solving for the creative industries
A3. Provide you with insight into the workings of the creative economy and the
potential impact of policy on the participants such as consumers, workers and
Learning outcomes
On successful completion of this unit, you will be able to:
LO1. Demonstrate sound knowledge of the basic theories, concepts and ideas and
how they relate to the real-world creative economy.
LO2. Communicate structured coherent arguments and debate modern economic
concepts and how they can applied to problem-solving for the creative
LO3. Develop new skills and insights into the workings of creative economics and the
potential impact of policy on the participants such as consumers, workers and
Teaching and learning
This will comprise:
Lectures, presentations, seminars, workshops, tutorials, group feedback, individual,
progress tutorials, peer reviews, independent study, set tasks and activities.
Assessment strategy
Table A1- Assessment Components
Typical Indicative
Assessment tasks

Assessment Type Word

Page 6 of 13

List all

Where the
comprises more
than one
assessment task

For each component
double click in the box
to see options.
The options equate to
the assessment types
in table A2


Report 50% Report
assessment &

50% Oral assessment &
presentation via
prerecorded video

Table A3 – Summary of Assessment
Assessment Category Total % for Unit
Coursework 50%
Practical 50%
Table A4 – Assessment Criteria
There should be at least one criterion against each learning
outcome for the unit


Knowledge of:
Basic theories, concepts and ideas in relation to economics
applied to the creative industries.


Understanding through the application of:
Interpretation and communication of discussion, debate and
problem solving for economic concepts for the creative


Technical and applied skills through:
Simulations and case studies in the creative industries


Important Assessment Procedures & Regulations
Mitigating Circumstances:
UCA has a system for helping students who need extra time to do their learning on a project
due to illness or another circumstance outside their control which occurs suddenly during a
Unit’s teaching and couldn’t be predicted or avoided by the student.
To apply for extra time using this system go to the myA-Z on myUCA. Go to the ‘M’ section.
Read the instructions about mitigating circumstances and download the form (this works
best in Chrome). Fill it in and email it to [email protected] where it will be
read by the Business School administrators.

Page 7 of 13

Please note: You MUST apply for mitigating circumstances before the assessment
Academic Misconduct Regulations:
UCA has academic misconduct regulations which apply to all students’ submissions. You
may read these regulations in full in the A section of the myA-Z on myUCA.
Here are some important aspects to consider:
The University has a public duty to ensure that the highest standards are maintained in the
conduct of assessment. This is essential to safeguard the legitimate interests of its students
and the University’s academic standards and reputation. Academic misconduct is taken very
seriously. The University will take action against any student who contravenes these
regulations through negligence, carelessness, ignorance or by deliberate intent. The
University considers that an act of academic misconduct is committed irrespective of
whether the student intended to commit the act, e.g., plagiarism may be committed
regardless of whether the student intended to deceive the assessors.
Plagiarism (including self-plagiarism)
2.2.1 This is where a student either:
i) presents work for assessment which contains the unacknowledged published or
unpublished words, thoughts, judgements, ideas, structures or images of another person or
persons. This includes material downloaded from digital sources, and material obtained
from a third party; or ii) presents work for assessment which that student has previously
submitted for assessment as part of the same or another unit or course, or at another
institution. This is known as selfplagiarism and relates to the principle that a student may not
receive credit for the same piece of work more than once unless specifically required to
resubmit work (e.g., as part of a Resit task.)
2.2.2 It is not an offence for a student to draw upon the work or ideas of another person
where this is appropriately acknowledged. Plagiarism can be avoided by the accurate use of
quotation marks, detailed references and a full bibliography.
Further information, including guidance on how to avoid plagiarism, can be found on the
Academic Integrity section of the myA-Z on myUCA. Students who have any doubts about
what constitutes correct referencing can also look up the Harvard Referencing Guide on
the UCA website at the following link:
Assessment briefing
You will participate in group discussions and find solutions to the problems presented
in the Workshops. These feedback discussions involve the integration of grounded
theory and learning from extended reading and Workshop Attendance. In addition to
reading,the workshops greatly contribute to your knowoedge base.

Page 8 of 13

The summative assessment comprises two components: the
1. Report 2. Oral presentation
Report Weighting = 50 %
You are required to choose an organisation of your choice associated with the
Creative arts industry or operating in that sector. Your report should consider the
macro-economic environment considering some of the key factors that may have an
impact on the organisation. Factors are likely to include aspects of monetary policy,
consumer supply and demand and other areas you have researched. The report
should not be more than 1,000 words +/- 10 per cent.
Pre-recorded video Presentation Weighting 50%
The oral presentation comprises a 5-minute pre-recorded video with evidence that it
is the student with ID card. You are required to discuss the contents of the report
highlighting the key issues, the challenges and your recommendations’. The
prerecorded video should be embedded into the PPT.
Please note, both components must be completed for the unit to be assessed.

Reading list (Indicative)
Mankiw/Taylor Economics, second edition, Cengage 2011
Parkin, M. (2017) Economics. Melanie Powell & Kent Matthews (eds).
Parkin, M. (2014) Economics [print and electronic book] / Michael Parkin, Melanie Powell,
Kent Matthews. 9th ed.; European edition. Kent. Matthews (ed.). [Online].
Harlow: Pearson Education Limited.
Michael Parkin 1939- (2012) Economics / by Michael Parkin, Melanie Powell, Kent
Matthews. 8th edition; European edition. Melanie Powell & Kent Matthews (eds.).
Harlow, Addison-Wesley.
Knut Sydsæter author. (2016) Essential mathematics for economic analysis / Knut Sydsæter
and Peter Hammond. Fifth edition. Peter J. Hammond 1945- author. (ed.).
Harlow, United Kingdom: Pearson Education.
Bradley, T. (2013) Essential mathematics for economics and business / Teresa Bradley.
4th ed. Chichester [England]; Malden, Mass., Wiley-Blackwell.
Carl P. Simon 1945- author (2006) Mathematics for economists / Carl P. Simon,
Lawrence Blume. Viva-Norton Student Edition. Lawrence Blume author (ed.). New Delhi,
India: Vinod Vasishtha for Viva Books
Core Reading for this unit? (if essential)
• Parkin (2018). “Economics, Global Edition”; 13th edition; Paperback Pearson;
ISBN-10 : 9781292255460; ISBN-13 : 978-1292255460

Page 9 of 13
link to myUCA unit area Reading List (compulsory)
Reading List Link

Reading List on Talis (compulsory)


Glossary and useful terminology for this unit
[extract from