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2017/18 Taught Postgraduate Module Catalogue

LUBS5816M Economics of Strategy

15 creditsClass Size: 60

Module manager: Juliane Scheffel

Taught: 1 Oct to 31 Jan View Timetable

Year running 2017/18

Module replaces

LUBS 5817M

This module is not approved as an Elective


This module aims to provide students with an understanding of the economic environments (sectoral, national and global) relevant to the strategic management of business enterprises, and to enable students to understand and to use economic concepts applicable to strategic decision-making in business enterprises.

Learning outcomes
Knowledge outcomes:

On completion of this module students will be able to:
1. Explain in economic terms the nature and function of business enterprises in the market economy.
2. Apply microeconomic analysis to the business objectives and strategic decision-making of firms in different competitive environments
3. Explain economic factors underlying the structure, organisation and control of multi-business corporations, including issues of ownership and governance
4. Show an appreciation of the economic principles applicable to the ethical and responsible management of business enterprise
5. Analyse the factors in the wider macroeconomic and financial economic environment which affect business and show how these influence strategic choices

Skills outcomes:
Critical thinking


Indicative content:
Preliminary foundation: (Not assessed) (a) The demand and supply model of markets (b) Graphical analysis of the firm: costs, revenues and profit

Main syllabus
1. Profit, value and the market environment: The profit goal, competition, market power, competitive advantage. Standard and non-standard pricing models.
2. Economics of competitive strategy: Game theory and interdependent decisions, models with prior commitments, models of product quality competition; resources and capabilities.
3. Corporate boundaries: Transaction cost and property rights theories of ‘make-or-buy’ and the control and ownership of strategic assets; diversification, innovation, alliances and joint ventures
4. The macroeconomic environment: National output and the business cycle; money, banking, inflation and interest rates; the international environment, trade, foreign direct investment, global financial governance

Teaching methods

Delivery typeNumberLength hoursStudent hours
On-line Learning41.004.00
Class tests, exams and assessment13.003.00
Independent online learning hours6.00
Private study hours113.00
Total Contact hours31.00
Total hours (100hr per 10 credits)150.00

Private study

The timings and methods here and above are indicative. Details will be determined in the course of module preparation:
- Independent online /interactive learning pack (Foundations): 6h
- Private study:
Pre-workshop reading (Foundations): 6h
Post-workshop reading and case analysis (8 topics): 80h
Write and submit 2 formative essays: 8h
Exam preparation: 21h

Post-workshop exercises and case analysis will be developed though participatory online discussion boards and supported by additional online webinars.

Opportunities for Formative Feedback

Progress will be monitored by participation in the workshop and online in discussion boards and VLE tests together with two opportunities for formative feedback on written coursework.

Methods of assessment

Exam typeExam duration% of formal assessment
Unseen exam 3 hr 100.00
Total percentage (Assessment Exams)100.00

The resit for this module will be 100% by examination

Reading list

The reading list is available from the Library website

Last updated: 27/03/2018


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