Module Identifier MBM1010  
Academic Year 2001/2002  
Co-ordinator Professor John Cable  
Semester Semester 1  
Other staff Mr Nicholas Perdikis  
Course delivery Lecture   20 Hours  
  Seminars / Tutorials   4 Hours  
Assessment Course work   One piece of coursework   25%  
  Exam   2 Hours   75%  

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

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