Module Title
Business Economics
Keywords
Economic Concepts, Business Objectives, Market Structure, Pricing, Competitiveness, ,market Failure, International Business |
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Prerequisites for Module
None in addition to course entry requirements or equivalent.
Corequisite Modules
None.
Precluded Modules
None.
Aims of Module
To provide managers with an ability to critically assess economic principles and theories relevant to the analysis of business behaviour and the economic environment in which business organisations operate.
Learning Outcomes for Module
On completion of this module, students are expected to be able to:
| 1. |
Critically evaluate the alternative theories of microeconomics and their implications for buisness
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| 2. |
Critically assess concepts and principles underlining business activity
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| 3. |
Apply the appropriate models and techniques for analysing the environment within which business organisations operate
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| 4. |
Evaluate and synthesise the alternative theories and models of business behaviour
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Indicative Module Content
The domestic and international economic environment, economic concepts, demand and supply, firms and markets, market structure, business objectives, profit maximisation, managerial and behavioural models, cost in theory and practice, pricing, competitiveness and productivity, market failure.
Indicative Student Workload
Contact Hours
| Full Time | Part Time | Distance Learning | Blended Learning | Assessment
| 3 | 3 | 3 | 3 | Lectures/Tutorials
| 30 | 30 | 0 | 16 | Online Discussions/Activities
| 0 | 0 | 30 | 30 |
Directed Study
| | | | | Directed Study
| 37 | 37 | 37 | 37 |
Private Study
| | | | | Private Study
| 30 | 30 | 30 | 14 |
| Mode of Delivery
Taught Mode (T)
The module is delivered in Taught Mode by lectures, workshops, interactive group work, tutorials and directed self-study.
Distance Learning Mode (DL)
The module is delivered in Distance Learning mode by self directed study learning from paper-based or web-based learning materials, supported by on-line support and group work.
Assessment Plan
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Learning Outcomes Assessed
| | Component 1 | 1,2,3,4
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This module is assessed by a portfolio coursework including contribution to module activities.
Indicative Bibliography
| 1. | SLOMAN, J., 2006. Economics and the business environment. 6th ed. Harlow: Financial Times/Prentice Hall. ebook
| | 2. | SLOMAN, J. et al., 2022. Economics for business. 11th ed. Harlow: Pearson.
| | 3. | WORTHINGTON, I. and BRITTON, C., 2014. The business environment. 7th ed. Harlow: Financial Times/Prentice Hall.
| | 4. | Journals:
Applied Economics
Business Economics
Economic Journal
Journal of Economic Perspectives
National Institute Economic Review
Oxford Review of Economic Policy
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