2017/18 Undergraduate Module Catalogue
LUBS2420 Business Economics
10 creditsClass Size: 170
Module manager: Gabriel Burdin Bula
Taught: Semester 2 View Timetable
Year running 2017/18
Pre-requisite qualificationsLUBS1940 Economics for Management
LUBS1950 Economic Theory & Applications 1
This module is approved as a discovery module
Module summaryThis module is about what economists have to say about firms once we go beyond traditional micro and take into account the existence of uncertainty and imperfect information. The course covers the theories at the basis of the most exciting developments in microeconomics in the last thirty years. Issues we look at include why firms exist, corporate governance, authority in the employment relationship and what makes people work.Further information about the Business School is available on the website: Business School
ObjectivesOn completing this module, students will be able to demonstrate:
- a clear knowledge and understanding of the different economic perspectives on the nature and organisation of firms;
- a basic knowledge of the relevant literature
- an ability to apply the corresponding concepts and models to discussions for firm behaviour and efficiency in different institutional settings.
Reading research literature.
The focus of the module is on the economics of organisation and of management.
- The meaning of efficiency in the basic theory of the firm
- the reasons why firms exist
- transactions costs
- risk and uncertainty
- the principal-and-agent relationship
- corporate governance and the performance of managers
- authority and incentives in the employment contract.
|Delivery type||Number||Length hours||Student hours|
|Private study hours||85.00|
|Total Contact hours||15.00|
|Total hours (100hr per 10 credits)||100.00|
Opportunities for Formative FeedbackSample exam questions will be covered in the fortnightly tutorials to give students feedback on their progress.
Methods of assessment
|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|
Resit will be 100% by exam.
Reading listThe reading list is available from the Library website
Last updated: 01/12/2017
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