|
 Academic Year:
| 2013/4 |
| Owning Department/School:
| School of Management |
| Credits:
| 6 |
| Level:
| Certificate (FHEQ level 4) |
| Period: |
Semester 1 |
| Assessment:
| CW 30%, EX 70% |
| Supplementary Assessment: |
Like-for-like reassessment (where allowed by programme regulations) |
| Requisites:
| This unit is not available to visiting/exchange students. |
| Description:
| Aims: In this course, the broad academic aim is to enable students to acquire and develop appropriate analytical skills that aid their understanding of the business environment in which firms operate. At the end of the unit, students should be able to form a qualified opinion on the fundamental business question: 'How profitable is this market likely to be for my firm?' Learning Outcomes: By the end of the course, students should be able to identify and explain important economic concepts such as demand and supply analysis, the theory of production costs, the different types of market structure and, using Porter's five forces framework, have an appreciation of the various competitive strategies in which firms engage. In addition, they should be able to evaluate economic problems (particularly relating to firms and markets) and be able to apply economic analysis to examples from the real world. Skills: Grasp of basic economic concepts and their applicability to the real world (taught, facilitated and assessed), critical thought, writing and analytical awareness (assessed), ability to construct an argument (assessed), Interpretation of data (assessed). Ability to interface with web resources (encouraged). Content: Overview, Porter's Five Forces, theory of demand, cost theory, market structure, pricing strategies, non-price competition. |
| Programme availability: |
MN10070 is a Designated Essential Unit on the following programmes:Department of Chemistry
MN10070 is Compulsory on the following programmes:Department of Computer Science
MN10070 is Optional on the following programmes:Department of Chemistry
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