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MN10103: Business economics I

Follow this link for further information on academic years Academic Year: 2013/4
Further information on owning departmentsOwning Department/School: School of Management
Further information on credits Credits: 6
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 0%, EX 100%
Further information on supplementary assessment Supplementary Assessment: Like-for-like reassessment (where allowed by programme regulations)
Further information on requisites Requisites: After taking this unit you must take MN10006
This unit is not available to visiting/exchange students.
Further information on descriptions Description: Aims:
This unit aims to provide an understanding of the operation of the macroeconomic and microeconomic environments in which business operates. It focuses on economic frameworks and analytical tools which are important for an understanding of the business world. The objective of the macro economic component is to develop students' ability to understand the influence of changes in the broad economic environment on business, and to apply this framework to investigate the effects of changes in policy on macroeconomic variables. The objective of the microeconomic component is to develop an understanding of decision-making by households and firms in both product and factor markets with particular emphasis on the theory of the firm. This part of the course serves as a basis for Business Economics II.

Learning Outcomes:
By the end of this unit, students should be able to perform a basic analysis of key economic issues in the macro- and micro- environments in which business operates.

Grasp of basic microeconomic and macroeconomic concepts and their applicability to the real world (taught, facilitated and assessed). Ability to construct an argument (facilitated, assessed). Interpretation of data (taught, facilitated and assessed).

Introduction to business economics. The macroeconomic environment: circular flow of income; consumption and investment; money markets and foreign exchange; relationships between markets in the closed and open economy and the impact of government policies on the macroeconomic context in which business operates. The microeconomic environment: consumer behaviour; prices and markets, production and costs; structure of product markets, operation of factor markets.
Further information on programme availabilityProgramme availability:

MN10103 is Compulsory on the following programmes:

School of Management
  • UMMN-ANB01 : BSc (hons) Business Administration (Full-time with Thin Sandwich Placements) - Year 1

* This unit catalogue is applicable for the 2013/4 academic year only. Students continuing their studies into 2014/15 and beyond should not assume that this unit will be available in future years in the format displayed here for 2013/14.
* Programmes and units are subject to change at any time, in accordance with normal University procedures.
* Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.