Module Title:   Business Economics

Module Credit:   20

Module Code:   MAN0130L

Academic Year:   2015/6

Teaching Period:   Semester 1

Module Occurrence:   A

Module Level:   FHEQ Level 4

Module Type:   Linked 10+10

Provider:   Management

Related Department/Subject Area:   School of Management

Principal Co-ordinator:   Mr Georgios Magkonis

Additional Tutor(s):   -

Prerequisite(s):   None

Corequisite(s):   None

Aims:
To introduce you to key economic concepts, principles and policy.
To enable you to become effective business managers by attaining an understanding of the micro and macroeconomic environments of business.
To understand and analyse business and economic problems in the UK, Europe and the global economy.
To develop an economic understanding of the debates related to sustainable economic development.

Learning Teaching & Assessment Strategy:
Concepts, principles and theories will be explored in formal lectures, (LO 1a and 1b) before being practised and applied to business problems in student-led tutorials, (LO 1a, 1b, 2a, 2b, 3a and 3b). Case studies and examples from the European and global economy will illustrate arguments and provide appropriate contexts for the application and exploration of principle economic ideas, (LO 2a and 2b). Weekly tests, using multiple choice questions, will provide you with formative feedback on your on-going attainment of economic knowledge and understanding (LO 1a and 1b). The assessment strategy is developmental, enabling you to practise specific academic skills and gain formative feedback from your tutorial leader. As bite sized exercises, the initial assessments are preparatory exercises for the final assessment. The assessment is assignment based enabling you to demonstrate your broad attainment of the module learning outcomes through discussion of key concepts, analysis of economic argument and data; and the creation of structured and effective written communication (LO 1a, 1b, 2a, 2b, 3a and 3b).

Lectures:   24.00          Directed Study:   150.50           
Seminars/Tutorials:   24.00          Other:   0.00           
Laboratory/Practical:   0.00          Formal Exams:   1.50          Total:   200.00

On successful completion of this module you will be able to...

a) describe and analyse key economic concepts and your relation to business; and b) analyse the components of the micro and macro-economic environment.

On successful completion of this module you will be able to...

a) analyse business problems and decision making from an economic perspective; and b) identify and evaluate the economic features of business problems.

On successful completion of this module you will be able to...

a) write in a manner which demonstrates your analytical thinking, b) investigate business problems; c) communicate effectively in written and orally; and d) analyse numerically.

  Examination - closed book 1.50 50%
 
  Closed book examination
  Coursework   50%
 
  Individual assignment of up to a total of 2,000 words

Outline Syllabus:
Consumer behaviour in markets.
Producer behaviour in markets.
Perfect competition and monopoly.
Oligopoly and Strategy.
Alternative theories of the firm.
Economic issues related to boundaries of the firm.
Government regulation of competition and business.
Social costs and benefits (linked to sustainable development).
The macroeconomic environment of business.
The role of government in managing the economy.
Current economic models, government policy and economic stability.
International trade and trading blocs.
The balance of payments and exchange rates.
Forms of FDIs and current trends on developed and developing economies.

Version No:  4