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 replacesLUBS 5817M
This module is not approved as an Elective
ObjectivesThis 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.
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
Preliminary foundation: (Not assessed) (a) The demand and supply model of markets (b) Graphical analysis of the firm: costs, revenues and profit
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
|Delivery type||Number||Length hours||Student hours|
|Class tests, exams and assessment||1||3.00||3.00|
|Independent online learning hours||6.00|
|Private study hours||113.00|
|Total Contact hours||31.00|
|Total hours (100hr per 10 credits)||150.00|
Private studyThe 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 FeedbackProgress 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 type||Exam 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 listThe reading list is available from the Library website
Last updated: 27/03/2018
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