Department of Business, Management, and Entrepreneurship

COURSE GUIDE

Course Title Economics, Business and Entrepreneurship

Course Code GEME 411
Credit Points 3 Credits
Prerequisite None
Course(s)
Course This course introduces students to entrepreneurship, basic economics and
description engineering economic analysis. Students will be provided with underpinning
knowledge necessary to explain the nature and role of entrepreneurial activities in
Botswana, explain reasons why individuals engage in entrepreneurship, and
identify the benefits of engaging in entrepreneurial activities for an individual and
the country. Furthermore, students will also be exposed to the reasons for the
success and failure of small businesses in Botswana. Students will also be
introduced to the basic economic concepts and principles in which they should be
able to distinguish between macroeconomics and microeconomics, describe the
economic problem and use the production possibility frontier to explain the
concepts of scarcity, choice and opportunity cost. The principles of demand,
supply, and price setting will be explored. Engineering economic analysis
examines the money spent at the design and building stages of a project, and the
revenues and benefits generated during and after project completion. Students will
be equipped with skills to determine the economic feasibility of engineering
projects.

Course Dr James Juana

Lecturers Email address: juanaj@biust.ac.bw
Office No: 26, Block 2
Office telephone number: 4931166

Dr Mapeto Bomani
Email address: bomanim@biust.ac.bw
Office No: 5, Block 2
Office telephone number: 4931172

Mr Sakarea Kenewang
Email address: kenewangs@biust.ac.bw
Office No: 7, Block 2
Office telephone number: 4931168

Consultation Times: TBA

Teaching Add your names and contacts

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 Assistants
Course This course seeks to address the following objectives:
Objectives 1. To equip with basic economics, business, and finance skills needed
for decision-making in engineering business entities.
2. To enable students to make economic decisions towards minimising
costs and maximising benefits to business organisations.
3. To assist students in appraising projects using various engineering
economic tools
4. To expose students to an introductory background of the concepts and
principles of entrepreneurship
5. To enable students to explain the different entrepreneurial profiles

Learning At the end of the module students should be able to:

Outcomes i. Explain the economic problem
ii. Describe how the market price is determined
iii. Identify and measure the major economic goals of a country
iv. Explain economic policies related to these goals that frequently appear in
local and foreign print and broadcast media such as newspapers, the radio,
television and internet
v. Demonstrate the ability to apply a variety of investment appraisal
methods to assess engineering projects
vi. Explain some concepts and principles of entrepreneurship
vii. Identify and describe the types the entrepreneurial profiles.

Course schedule

#week/ date Topics Readings Details Lecturer/

Instructor
1. (21-25 Introduction to Slides - What is economics Dr J. Juana
Sept) economics - The economic
problem
- Scarcity, choice
and opportunity
costs
- PPF
2. (28 Sept – Introduction to Slides - Demand and supply Dr J. Juana
Oct 2) economics - Price elasticities
and application
- Inflation and
employment
3. (Oct 5 -9) Methods of Slides - Equity Vs Debt Dr J. Juana
financing Projects financing
4 and 5 (Oct Understanding the Park: 3, 4 - Engineering Dr J Juana
12- 16 and Time Value of economic decision-
Oct 19-23) Money, Interest making
Rates, and Interest - The time value of
Formulae for
money.
Investment
Decision-Making
- Simple and
compound interest.
- Equivalence
calculations with

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 nominal and effective
interest rates.
TEST 1 THURSDAY OCTOBER 21 : 18:00 -20:00
COVERAGE: TOPICS 1, 2, 3 &4
6 (Oct 26-30) Present Worth Park: 5, 6, 7 - Present Worth, PW Dr M. Bomani
Method - Future Worth, FW
Comparing the - Internal Rate of
worthiness of Return, IRR.
projects:
1. Future Worth
Method
2. Rate of Return
Method
L7 PROBLEM SET Mid Semester Break November 2 -6
7 (Nov9-13) Present Worth Park: 5, 6, 7 Present Worth, PW Dr M Bomani
Method Future Worth, FW
Comparing the - Internal Rate of
worthiness of Return, IRR.
projects: - Equivalence
1. Future Worth Method of
Method comparing project
2. Rate of Return alternatives
Method
8 and 9 (Nov Benefit-Cost Park: 16.3 and 16.4 - General cost Dr M Bomani
16 -20 and 23- Analysis and its concepts including
27) Implication for the classification of
Public Sector costs / types of
Projects costs.
- Why Benefit-Cost
Analysis (BCA) is
used in Public
Sector Projects.
- Valuation of
Benefits and Costs.
- Definition of
Benefit-Cost Ratio
(BCR).
- Calculation of BCR.
NOV 25 TEST 2 18:00 – 20:00
11 and 12 Break-Even Park: 12.1 -meaning of breaking Mr S
Analysis, and -12.3 analysis Kenewang
Sensitivity Analysis Pannerselvam - Calculation of break-
: 16.3.3 even point
-Calculation of break-
even units
-deciding through
calculations whether to
use a particular
production process or
buy a product
-meaning of sensitivity

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 analysis
-construction of a
sensitivity graph
-Use of cashflow
statements in
conducting sensitivity
analysis

IN CLASS QUIZ
13. Introduction to Venter, Urban and -Definition of Terms. Mr Kenewang
entrepreneurship Rwigema (Part 1, -Entrepreneurial
Chapters 1 and 2) motivations
-Characteristics
associated
with the entrepreneurial
mindset.
-Role of small
businesses in the
economy.
-Pitfalls of small
business ownership.
-Entrepreneurial
profiles (co-preneurs,
family-owned
businesses, home-based
businesses)

14. STUDY WEEK

15 Final Examinations

Resources 1. Contemporary Engineering Economics by Chan Park, 2016 Edition, Pearson.

ISBN 13: 978-1-292-10909-1 (Main Textbook)
2. Engineering Economic Analysis: Ninth Edition by Donald G. Newman, Ted G.
Eschenbach & Jerome P. Lavelle, ISBN 0-19-516807-0
3. Entrepreneurship theory and practice: by Venter, Urban and Rwigema (2 nd
Edition), 2008, Oxford University Press, ISBN 9780195983548. (Main
Textbook)
4. Engineering Economics by Pannerselvam, (2nd Edition), 2016, PHI Learning
Private Limited, ISBN-978-81-203-4837-0.

Delivery mode will mainly be formal lectures, discussions, presentations, tutorials, assignments, and
other means as may be deemed appropriate. The formalised schedule will be as follows:

Lectures: 1 per week (2 hours)

Tutorials: 1 per week (1 hour)

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TEACHING TIMETABLE

Day Venue Time Group

Monday 122: 001-002 09:00 -11:00 Chem, Civil,
Mechantronics,
Comp & T
Wednesday 124: 003-004 08:00 -10:00 Electrical,
Geological,
Mechantronics
Friday 125: 001-002 08:00 -10:00 Industrial, Materials,
Mining

TUTORIAL TIMETABLE

Day Venue Time Group

Tuesday 124: 001-002 1000- 1100 Chem, Civil, Comp & Tel
Friday 114: 001-002 1500 - 1600 Ind, Materials Mining
Friday 114: 001-002 1000 - 1100 Geological, Electrical, Mechantronics

CONTINUOUS ASSESSMENT

2 Tests 30%
1: FINANCIAL CALCULATOR 20%
1 Quiz (In class) 10%
Final Exam 40%

Important Dates

Test 1: 23rd October 2020

Quiz: 11-12 November 2019

Test 2: 29 November 2019

Tests Venue: Block 114

Group Rooms Time

1 001-002 1800-2000 Hours
2 003-004 1800-2000 Hours
3 005-006 1800-2000 Hours

CLASS ATTENDANCE

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  It is compulsory that all students must attend all module lectures and other learning sessions.
An attendance register may be taken in lectures and other interactive learning sessions to
monitor students’ attendance to sessions. It is also the students’ responsibility to make sure
that they have signed the attendance register at the end of the session (s).

N.B. Students shall not be allowed to present themselves for the final examination unless they
have a minimum class attendance at 90% (refer to University and College DP regulations).

 Students are expected to drive their learning process. The lecturers, teaching instructors and
the other members of the management and entrepreneurship staff team will only facilitate the
learning process. Students will therefore have to actively participate in the course sessions
and do independent supplementary reading.
 Students have to ensure that they understand as best as possible during delivery of lectures
and other interactive sessions. It is the responsibility of students to consult the course
lecturers, teaching instructors and other course staff for help on respective areas of any
module offered by the Centre.
 All students are also expected behave themselves in a manner which does not impede the
ability of other students to carry out their work in class. This includes interalia: eating or
drinking in class; any kind of noisy or disruptive behavior e.g. talking in lectures or learning
session; using cell phones in any class, and or receiving calls or SMS or replying to calls or
sending any kind of message; and the use of iPods or any other listening device.
 Under no circumstance should student use audio or visual recording devices during learning
sessions. If a student a student perpetuate any behavior which may deemed to be disruptive,
the lecturer or instructor may ask to immediately leave the class. Consequently, any such
behavior will be reported and may be acted upon through the Student Code of Conduct
Regulations.
 Students are not allowed to make visual, audio or photographic recording of lectures, and
other interactive sessions.

Late submission of work

Late submission of work is strictly prohibited. No late assignment will be accepted and a zero will be
awarded, except when one has prior approval from the lecturer. If a student believes he/she has a valid
reason for late submission they must provide documentary evidence to the course lecturer/ coordinator
before he/she misses a test or assignment deadline.

Failure to submit work

Should any student miss a test and/ or fail to submit any piece of work without providing any
documentary evidence prior to the scheduled date of such assessment and/ or any subsequent
justifiable evidence, such a student will be awarded a zero mark.

Plagiarism
Plagiarism is a serious offence and the copying of other people’s work without full acknowledgement
is plagiarism and is regarded as a very serious offence in all contexts (refer to BIUST regulations)
There is an increasing tendency for students to find suitable internet sites and simply copy large parts
of these sites as their own work. This is easily detected and has far reaching consequences. While
students are encouraged to use the internet, they are strongly informed that they are obliged to
acknowledge such sources. Upon submission of assignments, students make a conscious undertaking
that the assignment they have submitted is truly their own work and not copied and plagiarized either
from other students ‘work, textbook, encyclopedias, journals or the internet or any other source. If it
is discovered that any student has breached this undertaking, a mark of zero shall be awarded
to the assignment.

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REQUIREMENTS TO SIT FOR FINAL EXAMINATION

Duly Performed (DP) of students shall be done in accordance with the General Regulations
Article 6.15. (2018/2019 BIUST Calendar).

Students will be allowed to sit for the final examination in this course if they have:
1. Attained the College minimum requirements of 35% of the Continuous Assessment (CA)
mark, that is, they have attained at least 14 marks out of the total 40 marks for course work.
AND
2. Attended at least 90% of all lectures and tutorials required for this course.

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