2015/16 Taught Postgraduate Module Catalogue

LUBS5817M Managerial Economics

10 creditsClass Size: 50

Module manager: Dr Martin Carter
Email: mjc@lubs.leeds.ac.uk

Taught: Semester 2 (Jan to Jun) View Timetable

Year running 2015/16

This module is not approved as an Elective

Objectives

The module aims to convey to students an economic understanding of business enterprise including the role of business in creating value for customers, employees and owners. It provides knowledge and understanding of economic principles relevant to managerial decisions, including economic optimisation and pricing for profit, economic analysis of costs, the impact of pursuing non-profit goals and strategic competition in markets.

Learning outcomes
Learning Outcomes - Knowlege/Application

Upon completion of this module students will be able to critically evaluate:
- The nature and function of business enterprises in a market economy
- How competition between firms is affected by market structure and how game theory helps to account for successful competitive strategies

Learning Outcomes - Skills

Upon completion of this module students will be able to:
Transferable
- Deploy analytical and critical thinking skills in problem solving

Subject Specific
- Use demand and supply analysis to represent changes in market conditions
- Apply microeconomic analysis to the decision-making and control of firms

Syllabus

Indicative content:
Value and market price
Demand and supply analysis
Product demand, price and revenue
Economic analysis of costs
Profit and control of the firm
Market structure and competition
Competing and cooperating
Limiting market entry

Teaching methods

Delivery type	Number	Length hours	Student hours
Seminar	4	8.00	32.00
Private study hours			68.00
Total Contact hours			32.00
Total hours (100hr per 10 credits)			100.00

Private study

- Preparatory reading: 20 hours;
- 7 hours further study per session: 28 hours;
- Assessment preparation: 20 hours.

Opportunities for Formative Feedback

Progress is monitored by group discussion of exercises and case studies during the course of the three day workshop and by the opportunity to submit practice exam answers for individual feedback during the self-study period.

Methods of assessment

Exams

Exam type	Exam duration	% of formal assessment
Standard exam (closed essays, MCQs etc)	2 hr 00 mins	100.00
Total percentage (Assessment Exams)		100.00

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated

Reading list

The reading list is available from the Library website

Last updated: 23/10/2015

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