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Programme & Unit Catalogues

MN20012: Economics of the firm and industry

[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: Intermediate (FHEQ level 5)
Semester 2
Assessment Summary: EX 100%
Assessment Detail:
  • Examination (EX 100% - Qualifying Mark: 35)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites: Before taking this module you must take MN10574
Learning Outcomes: By the end of this unit students will have learned to apply economic theory to analyse practical business problems and will be able to provide recommendations with respect to strategy and policy. This will involve critical evaluation of both internal and external (market) efficiencies, alongside new opportunities offered within/outside the firm's boundaries.

Aims: This unit builds upon the economic analysis of the firm and its environment that was taught in first year primer Business Economics units MN10574. It focuses upon the growth of the firm and the strategies through which these are achieved.

Skills: Critical Reading of the academic and wider literature (F,A)
Critical Writing (F,A)
Interpretation of data (T,A)
Application of economics and management theories to the real world (T,A)

Content: Managerial and behavioural theories of the firm, asymmetric information, rationale for the existence of firms, optimal boundaries of the firm, network economics, and innovation economics.

Programme availability:

MN20012 is Optional on the following programmes:

School of Management
  • UMMN-ANB07 : BSc(Hons) Business with Thin sandwich placement(s) (Year 2)


  • 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.