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MN10070: Business economics

Follow this link for further information on academic years Academic Year: 2019/0
Further information on owning departmentsOwning Department/School: School of Management
Further information on credits Credits: 6      [equivalent to 12 CATS credits]
Further information on notional study hours Notional Study Hours: 120
Further information on unit levels Level: Certificate (FHEQ level 4)
Further information on teaching periods Period: Semester 1
Further information on unit assessment Assessment: CW 30%, EX 70%
Further information on supplementary assessment Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Further information on requisites Requisites: This unit is not available to visiting/exchange students.
Further information on descriptions 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.
Further information on programme availabilityProgramme availability:
NB. Postgraduate programme information will be added when the postgraduate catalogues are published in August 2019

MN10070 is Compulsory on the following programmes:

Department of Chemistry
  • USCH-AFB03 : BSc(Hons) Chemistry with Management (Year 1)
  • USCH-AKB04 : BSc(Hons) Chemistry with Management with Industrial Placement (Year 1)
  • USCH-AAB04 : BSc(Hons) Chemistry with Management with Study year abroad (Year 1)
  • USCH-AFM07 : MSci(Hons) Chemistry with Management (Year 1)
  • USCH-AKM07 : MSci(Hons) Chemistry with Management with Industrial Placement (Year 1)
Department of Politics, Languages and International Studies
  • UXXX-AYB05 : BSc(Hons) International Management and Modern Languages (French) with Year Abroad (Year 1)
  • UXXX-AYB04 : BSc(Hons) International Management and Modern Languages (German) with Year Abroad (Year 1)
  • UXXX-AYB06 : BSc(Hons) International Management and Modern Languages (Spanish) with Year Abroad (Year 1)

MN10070 is Optional on the following programmes:

Department of Chemistry

Notes: