2021/22 Undergraduate Module Catalogue
LUBS3930 Economics of Business and Corporate Strategy
20 creditsClass Size: 270
Module manager: Michael Reynolds
Taught: Semesters 1 & 2 (Sep to Jun) View Timetable
Year running 2021/22
This module is not approved as a discovery module
Module summaryEconomics is a powerful aid to critical thinking about strategic aspects of business. This course explores the economic foundations of ideas about strategy and of strategies that firms use in practice. It examines strategies that firms can use to improve performance within the organisation and then looks at strategies the firm can use to compete and be successful in the market. The ideas in the module are explored through economics research and real-world case studies and the aim throughout is to demonstrate the use economic theory in aiding practical business choices.
ObjectivesThe module aims to use economic analysis to provide an understanding of how the strategic choices of firms both at the level of the individual business and of the wider corporation may influence their performance. It examines competition at the business level through models in game theory, industrial organisation and the resource-based approach and considers questions of corporate ownership and organisation by means of transaction cost and institutional economics.
Knowledge / Application
On completion of this module students will be able to:
- Interpret economic theories and concepts used in the analysis of business and corporate strategy
- Identify and appropriately employ theories and concepts in the interpretation of examples and cases in business and corporate practice
- Critically evaluate the relationship between theory and practice in the light of empirical evidence
Upon completion of this module students will be able to:
- Apply analytical and critical thinking
- Apply economic analysis to the interpretation of business and corporate strategies and articulate the purpose of each strategy, its relevance and potential success.
The Principal Agent Problem
Why do Managers Exist?
Does Management Matter?
The Boundaries of the Firm: Vertical and Horizontal integration
Sustaining Competitive Advantage
|Delivery type||Number||Length hours||Student hours|
|Private study hours||164.00|
|Total Contact hours||36.00|
|Total hours (100hr per 10 credits)||200.00|
Private studyThis could include a variety of activities, such as reading, watching videos, question practice and exam preparation.
Opportunities for Formative FeedbackYour teaching methods could include a variety of delivery models, such as face-to-face teaching, live webinars, discussion boards and other interactive activities. There will be opportunities for formative feedback throughout the module.
Methods of assessment
|Assessment type||Notes||% of formal assessment|
|Total percentage (Assessment Coursework)||30.00|
Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated
|Exam type||Exam duration||% of formal assessment|
|Standard exam (closed essays, MCQs etc)||2 hr 00 mins||70.00|
|Total percentage (Assessment Exams)||70.00|
The resit for this module will be 100% by 2 hour examination.
Reading listThe reading list is available from the Library website
Last updated: 30/06/2021 15:20:01
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