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MN12217: Business economics for accountants

[Page last updated: 09 August 2024]

Academic Year: 2024/25
Owning Department/School: School of Management
Credits: 10 [equivalent to 20 CATS credits]
Notional Study Hours: 200
Level: Certificate (FHEQ level 4)
Period:
Academic Year
Assessment Summary: EXCB 100%
Assessment Detail:
  • Semester One Exam (EXCB 20%)
  • Semester Two Exam (EXCB 80%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites:
Learning Outcomes:
  • By the end of this unit students should be able to:
  • Recognise fundamental knowledge of business in accounting, finance, economics, human resource management, business analytics and marketing
  • Identify business problems/opportunities in application of concepts and theories
  • Evaluate business problems/opportunities in order to identify viable responses and/or solutions
  • Reflect on business theory and practice in context
  • Apply models, theories, and best practice to analyse real life problems and formulate recommendations for courses of action in practical business situations



Synopsis: Use microeconomics to develop an understanding of the markets in which firms operate. You'll explore a range of microeconomic concepts, including some of the models and analytical tools used by economists. You'll learn how these are helpful in making business decisions and how they help provide insights into the nature of the competitive environment.

Content: You will be introduced to business economics from first principles, with a particular focus on microeconomic theory of the firm and industry, and related analytical frameworks. Likely topics to be covered include: consumer behaviour; demand and supply determination, production and costs, structure of product markets, pricing possibilities, The five forces affecting industry profitability, the intensity of rivalry between firms and measurement of monopoly power, oligopoly price and non-price behaviour under conditions of competition and co-operation, barriers to entry and entry deterrence, and the impact of government competition policy on strategic options.

Course availability:

MN12217 is Compulsory on the following courses:

School of Management
  • UMMN-AFB10 : BSc(Hons) Accounting and Finance (Year 1)
  • UMMN-AKB10 : BSc(Hons) Accounting and Finance with work placement (Year 1)
  • UMMN-AFB11 : BSc(Hons) Accounting and Management (Year 1)
  • UMMN-AKB11 : BSc(Hons) Accounting and Management with work placement (Year 1)

Notes:

  • This unit catalogue is applicable for the 2024/25 academic year only. Students continuing their studies into 2025/26 and beyond should not assume that this unit will be available in future years in the format displayed here for 2024/25.
  • Courses 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.