|Assessment Type||Assessment length / details||Proportion|
|Semester Assessment||Group project||25%|
|Semester Exam||2 Hours||75%|
|Supplementary Assessment||Repeat failed elements or equivalent||25%|
|Supplementary Exam||2 Hours Repeat failed elements or equivalent||75%|
On successful completion of this module students should be able to:
understand how economics can be used to formulate and inform business and everyday problems, in particular those involving choice.
The aim of the course is to introduce selected economic concepts and demonstrate their application in practical decision-making contexts. On completion of the course students will understand how economics can be used to forumlate and inform business and everyday problems, in particular those involving choice.
This module is designed for students without significant background in economics.
2. Demand, Supply and Market Equilibrium
3. Market Intervention
4. Profit Maximisation
5. Firms Within Markets: Alternative Market Structures
6. Competitive Firms and Perfect Competition
7. Market Failure and Inefficiencies: Monopoly Imperfections and Externalities
8. Optimisation and Equating at the Margin
9. Producer Behaviour: Deciding How Much to Produce
10. Cost Minimisation and Cost Curves
11. The Oligopoly Problem
12. Strategic Decision Making and Game Theory
13. Separation of Ownership and Control
14. Principals and Agents: Incentive Contracts
15. Bidding, Contracting and Auctions
This module is at CQFW Level 7