Module Identifier | MBM1010 | ||
Module Title | ECONOMICS FOR MANAGERS | ||
Academic Year | 2000/2001 | ||
Co-ordinator | Professor John Cable | ||
Semester | Semester 1 | ||
Other staff | Mr Nicholas Perdikis | ||
Course delivery | Lecture | 20 Hours | |
Seminars / Tutorials | 4 Hours | ||
Assessment | Exam | 2 Hours | 75% |
Course work | One piece of coursework | 25% |
General description
This module is designed for students with little or no previous background in economics. The aim of the course is to introduce students to some basic economic concepts such as opportunity cost, the theory of the margin etc., and cover topics such as the determination of aggregate economic activity and its effect on business, the role of government, fiscal and monetary policy and the world economy, price determination, costs, theory of the firm and industry structure. On completion of the course students will understand how aggregate economic activity is determined and how this affects business, the importance of markets both for the firm and in the coordination of economic activity, and how economic concepts (such as elasticity) and principles (such as equating at the margin) can inform decision-making in the firm.
Module Outline (Lecture Themes)
Lecture 1 The Significance of Markets
Lectures 2-3 The Functioning of Markets
Lectures 4-5 Demand Side Behaviour
Lectures 6-7 Cost and Output
Lectures 8-9 Objectives, Input and Output Choices
Lectures 10-11 Alternative Market Structures
Lecture 12 The Economy and Business
Lectures 13-15 The Determination of Economic Activity
Lectures 16-18 Macroeconomic Policy and Intervention
Lectures 18-20 The World Economy and Domestic Activity
Reading Lists
Books
K A Chrystal and R G Lipsey. (1997)
Economics for Business and Management. Oxford University Press
W Hornby, B Gammie and S Wall. (1997)
Business Economics. Longman
P K Y Young and J J McAuley. (1994)
The Portable MBA in Economics. Wiley