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MN10070: Business economics

[Page last updated: 23 August 2022]

Academic Year: 2022/23
Owning Department/School: School of Management
Credits: 6 [equivalent to 12 CATS credits]
Notional Study Hours: 120
Level: Certificate (FHEQ level 4)
Period:
Semester 1
Assessment Summary: EX 100%
Assessment Detail:
  • Examination (EX 100% - Qualifying Mark: 35)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites:
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.

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?'

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 Compulsory on the following programmes:

Department of Chemistry
  • USCH-AFB03 : BSc(Hons) Chemistry with Management (Year 1)
  • USCH-AAB04 : BSc(Hons) Chemistry with Management with Study year abroad (Year 1)
  • USCH-AKB04 : BSc(Hons) Chemistry with Management with Industrial Placement (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:

  • This unit catalogue is applicable for the 2022/23 academic year only. Students continuing their studies into 2023/24 and beyond should not assume that this unit will be available in future years in the format displayed here for 2022/23.
  • Programmes and units are subject to change 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.
  • Find out more about these and other important University terms and conditions here.