2008/09 Undergraduate Module Catalogue

LUBS1940 Economics for Management

20 creditsClass Size: 296

Module manager: Ms Aurelie Charles
Email: .

Taught: Semesters 1 & 2 (Sep to Jun) View Timetable

Year running 2008/09

Pre-requisite qualifications

Mathematics of at least GCSE grade B standard.

This module is mutually exclusive with

LUBS1220	Economics of Industry
LUBS1941	Economics for Management (Part-time)
LUBS1950	Economic Theory and Applications 1

This module is approved as an Elective

Module summary

The aim of this module is to give students a grounding in basic economic theory as it applies to business. The concern of this module is developing the students ability to use the economic view of firms, markets and the economy in general in their decision making process.

Objectives

On completion of this module, students will be able to demonstrate: a clear understanding of basic economic principles relevant to the business firm and to the macro economic environment; an understanding of simple models used in micro and macro economic analysis; an ability to apply the main economic principles and models to business and management problems and to problems of market economics; an ability to interpret simple economic data relevant to the business firm and the market; and an understanding of the role of economic policy and institutions in the economy.

Learning outcomes
The aim of this module is to give students a grounding in basic economic theory as it applies to business. The concern of this module is developing the students ability to use the economic view of firms, markets and the economy in general in their decision making process.
Further information about the Business School is available on the website: Business School

Syllabus

Basic theory of price and output; the analysis of costs and pricing in private sector organisations; the analysis of market structures; the analysis of competition between firms; the determination of the level of economic activity; macroeconomic issues (unemployment, inflation, etc) and policy; and international macroeconomics.

Teaching methods

Delivery type	Number	Length hours	Student hours
Lecture	14	2.00	28.00
Seminar	7	1.00	7.00
Private study hours			165.00
Total Contact hours			35.00
Total hours (100hr per 10 credits)			200.00

Opportunities for Formative Feedback

Students will get direct feedback on their tutorial work from the tutors by working through answers in class and also from the answer sheets provided. Tutorials will cover questions that reinforce the lecture material and provide feedback to the students on the correct answers from the four term tests.

Methods of assessment

Coursework

Assessment type	Notes	% of formal assessment
In-course MCQ	four 45 minute term tests	30.00
Total percentage (Assessment Coursework)		30.00

The final mark will be the highest mark achieved from: (A) The three highest marks obtained on the four 45 minutes term tests (10 percent of final mark for each of th counted tests) plus a three hour final exam (70 percent of final mark); or (B) One three hour examination (100 percent of final mark).

Exams

Exam type	Exam duration	% of formal assessment
Standard exam (closed essays, MCQs etc)	3 hr 00 mins	70.00
Total percentage (Assessment Exams)		70.00

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: 27/03/2009

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