Business Economics with a Professional Placement Year (BSc)

Each module is taught by active researchers in your field of study. This not only means that your lecturers are subject experts, but also that the module content is informed by the latest developments in the field. You will see state-of-the-art thinking and techniques, combined with contemporary examples drawn from across the globe that bring the theory to life.

Most modules adopt a blended approach, providing two hours of lectures or example sessions each week alongside weekly or fortnightly small group tutorials. These are complemented by a host of online, independent study activities (videos, assignments, discussion boards, reading etc). You will be required to attend all in-person elements and are expected to manage your time effectively to complete all assigned work. Technology is also brought into the classroom, with online polls and other forms of interaction common even in large lectures.

Some learning activities will take place in computer labs, as you get to grips with widely used software like Excel (which employers consistently place a high premium on) and more technical coding-based packages like R.

Students who have completed a work placement year will have the option to undertake a 20-credit research project in final year. This acknowledges the unique expertise and greater independence you will have developed during your time in industry, enabling you to apply empirical economics techniques to address an important question facing the sector you worked in.

How will I be supported?

All students are assigned a personal tutor, who is available for pastoral support and to signpost you to the numerous specialist support teams within the Business School and University. These range from counselling or financial advice to disability support or help with visas. You will also meet your programme director during induction – a member of academic staff with overall responsibility for the BSc Business Economic degree – who is always available to answer your queries.

The Business School has several on-site specialist teams. Our student support officer can help you with a range of issues, from queries about fees and student loans to emotional support. Our Opportunities Zone is home to our award-winning careers and placements teams, who are on hand to offer specialist advice to help you land your dream job.

The programme places a strong emphasis on supporting your studies. Weekly or fortnightly small group tutorials are designed to be interactive, providing ample opportunity to discuss your work with your class tutor and peers. All module lecturers also host weekly office hours. During this time, you can visit their office without an appointment to get one-to-one guidance and advice.

Throughout your time with us, you will be given the opportunity to submit your assignment answers for feedback through our virtual learning environment: Learning Central. Feedback will always be aligned to the module marking criteria and learning outcomes, emphasising how you can improve your work in the future and providing helpful advice as you prepare to submit formal coursework or to undertake exams.

The Professional Placement Year is year 3 of this four-year programme. You will be responsible for sourcing your own work placement, but advice and guidance will be provided by the School’s Placements Team and Careers Team. All work placements must be approved by the Cardiff Business School work Placement team.  During the work placement you will receive regular check-ins from the Placements Team. You will also receive academic support and guidance for the completion of your placement-based assessments through online sessions.

You may conduct your work placement in English or Welsh.

Throughout the year of work placement you continue to be a student of Cardiff University and will have access to all the student support, library and information services.

If you are unable to secure a work placement you may transfer to the three-year equivalent non-placement degree.

How will I be assessed?

The BSc Business Economics programme employs a diverse range of assessment. All modules have an element of coursework, enabling you to investigate aspects of the module content in more depth. Many of the courseworks reflect the types of activities economics graduates undertake in their professional life. Some modules will ask you to produce short policy briefs with deadlines of 24- or 48-hours, reflecting what happens when an urgent request comes in from a client or the CEO. Others will have longer-term projects, with elements of group work, computer coding, trading simulations, presentations and/or final reports. Some modules will enable you to show off your creativity, producing concise videos that are common in fields like financial journalism. More traditional forms of assessment, such as exams and academic essays are also utilised where appropriate.

We understand that doing well in assessments is important to our students. For this reason, we have developed a marking criteria menu that is employed across all modules and provided to you on day one. Designed to be transparent and simple to follow, each assessment will choose several elements of from the menu to indicate exactly what your assessor will be looking for.

We think this has several advantages. First, all modules employ a consistent approach, ensuring that marking is always transparent and fair. Second, and more importantly, by aligning the feedback you receive with the marking criteria, you will be able to immediately transfer its lessons to other modules where the same criterion is used.

The Placement Year is assessed through written reflective reports and an individual presentation. Students who have completed the Professional Placement Year will have the option in their final year to undertake a 20-credit research project based on the sector they worked in.

What skills will I practise and develop?

The Learning Outcomes for this Programme describe what you will achieve by the end of your programme at Cardiff University and identify the knowledge and skills that you will develop. They will also help you to understand what is expected of you.

On successful completion of your Programme you will be able to:

Knowledge & Understanding:

• Demonstrate systematic knowledge and understanding of economic theory and how it relates to the business environment.
• Demonstrate a critical understanding of how economic reasoning, data and methods can be applied to business decisions.

Intellectual Skills:

• Evaluate the relative merits of alternative economic arguments, theories and evidence. 
• Use economic principles and tools to explain and inform business and government policy decision making. 
• Assess the social, economic and environmental constraints facing business. 
• Evaluate changes and the determinants of change in businesses through comparative statics and empirical investigation. 
• Explain the results of an economic analysis by combining verbal argument with mathematical, econometric and graphical representation.

Professional Practical Skills:

• Assess the quality and relevance of different evidence when addressing an economic problem. 
• Produce economic analyses and reports by employing relevant methods and software to support business and institutional decision making. 
• Contribute economic insights to an interdisciplinary team within a business environment. 
• Evaluate business and institutional decisions using cost-benefit and related analyses. 
• Communicate the results of an economic analysis to both specialist and non-specialist audiences in an impactful way. 
• Apply appropriate economic reasoning to assist decision-making in a professional and/or business context. 
• Understand the nature and operations of a professional environment.
• Operate in the workplace confidently and professionally
• Develop, enhance, and demonstrate work-related skills, knowledge and experience, in areas including professionalism, ethics, health and safety.
• Be able to identify and adapt to working and related practices in an employment setting and reflect critically on them.

Transferable/Key Skills:

• Solve broadly defined problems in collaboration with others. 
• Work independently to solve business problems. 
• Analyse and reflect on personal management skills, identifying ways to improve through personal development planning.
• Develop work-based skills and experience, building on confidence and professionalism.

Other information

Our Trading Room is used as part of some economics and accounting courses but is open to all Business School students. This facility is supervised by trained PhD students who will help you become familiar with the software and modelling techniques used in real-life trading rooms.