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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 qualifications

LUBS1940 Economics for Management
LUBS1950 Economic Theory & Applications 1

This module is approved as a discovery module

Module summary

This 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


On 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.

Skills outcomes
Reading research literature.


The focus of the module is on the economics of organisation and of management.

We cover:
- 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.

Teaching methods

Due to COVID-19, teaching and assessment activities are being kept under review - see module enrolment pages for information

Delivery typeNumberLength hoursStudent hours
Private study hours85.00
Total Contact hours15.00
Total hours (100hr per 10 credits)100.00

Opportunities for Formative Feedback

Sample exam questions will be covered in the fortnightly tutorials to give students feedback on their progress.

Methods of assessment

Due to COVID-19, teaching and assessment activities are being kept under review - see module enrolment pages for information

Exam typeExam duration% of formal assessment
Standard exam (closed essays, MCQs etc)2 hr 00 mins100.00
Total percentage (Assessment Exams)100.00

Resit will be 100% by exam.

Reading list

The reading list is available from the Library website

Last updated: 01/12/2017


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