Description:
| Aims: The unit aims to introduce MBA students to the macroeconomic environment in which all firms operate.
Learning Outcomes: On completing this unit students will be able to:
* Display an understanding of key macroeconomic concepts.
* Understand the key tools of government macroeconomic policy.
* Use macroeconomic statistics to inform management decisions.
* Assess the impact of the macroeconomic environment on an individual organisation.
Skills: Intellectual skills
* a critical awareness of current issues within the macroeconomic environment; T/A
* facility to apply subject-specific knowledge into a range of situations T/A
* the ability to acquire and analyse data, information and situations; to evaluate relevance and validity, and to synthesise it in the context of topical business problems; T/A
Professional skills
* the ability to evaluate the current standing of an economy to aid the formation of company strategies and objectives; F
* operate effectively both independently as well as within teams and assume leadership roles where appropriate; F
* be self-directed and able to act autonomously in planning and implementing projects at professional levels. F
* ability to produce case study analysis F
Practical skills
* ability to conduct an analysis of the economic context within which businesses operate. F/A
Key skills
* the facility to analyse and communicate their ideas on a real world issue affecting business. F/A
Content: Key themes to be covered include:
* The meaning, measurement and managerial relevance of key economic data, including (e.g.) data on prices, business cycles, leading economic indicators, unemployment, taxation and corruption.
* The roles of government and central bank policymakers in the use of taxes, spending, interest rates and the money supply to influence the economy.
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