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The module 'Economics and Finance' sets the strategic management of projects into the prevailing economic context and how important the role of finance is to major and strategic projects. Using a combination of formal lectures, case studies and the involvement of practitioners, this module will demonstrate how important it is for a strategic manager of projects to understand some of the basic principles and tenets of economics and finance. The module will focus more on the macro and meso level of economics as these will set the scene for the project at different points in time, in different geographical locations and in different sectors.

Module Aims:

• To develop an approach to major projects and their management that includes appreciation of the role of economics and finance;
• ÌýExplore the relationship between macroeconomic policies, financial and funding sources and major projects;
• Use case-based learning to appreciate how projects are shaped and affected by economic pressures and forces Understand how financing and financial modelling relates to projects and their management.

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Issues that the module may tackle:

The module considers projects as a form of production and addresses:

• Characteristics of major projects with high strategic value;
• ÌýThe role of data gathering and analysis in decision-making;
• How finance and economic conditions shape project shaping, now increasingly influenced by the transition to a low carbon economy;
• The economic context of projects with long economic lives.ÌýÌý

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Intended learning outcome:

• Apply concepts and approaches relevant to projects and project management from various branches of economics and finance;
• Explain how macroeconomic policy and financial structuring affect major projects;
• Appreciate that circumstances relating to economics and finance can change and this may require change from the project and those managing it.Ìý