MN22166: Intermediate microeconomics of the firm and industry
[Page last updated: 03 June 2024]
| Academic Year: | 2024/25 |
| Owning Department/School: | School of Management |
| Credits: | 10 [equivalent to 20 CATS credits] |
| Notional Study Hours: | 200 |
| Level: | Intermediate (FHEQ level 5) |
| Period: |
- Semester 2
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| Assessment Summary: | EXOB 100% |
| Assessment Detail: |
- Open book time limited seen exam (EXOB 100%)
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| Supplementary Assessment: |
- Like-for-like reassessment (where allowed by programme regulations)
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| Requisites: |
Before taking this module you must take MN12011 OR take MN12217 OR take MN12017
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| Learning Outcomes: |
- Recognise fundamental knowledge of business in accounting, finance, economics, human resource management, business analytics and marketing.
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- Identify business problems/opportunities in application of concepts and theories.
- Evaluate business problems/opportunities in order to identify viable responses and/or solutions.
- Reflect on business theory and practice in context.
- Develop the entrepreneurial mindset to enhance creativity, leadership, teamwork, innovation and confidence.
- Identify and scope problems in business context - practical application.
- Apply models, theories, and best practice to analyse real life problems and formulate recommendations for courses of action in practical business situations.
- Possess the ability to manage complexity and simplify appropriately.
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| Synopsis: | Use microeconomics to analyse the economic and strategic decisions that derive from operating in a competitive environment. You will explore a range of microeconomic models and analytical tools, and learn how these are helpful in making business decisions. By the end of this unit, you should have developed your ability to apply economic theory to analyse practical business problems and will be able to provide recommendations with respect to strategy and policy.
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| Content: | You will be introduced to, and then apply, economic theory that is useful for analysing problems around various aspects of firms and markets. You will develop your understanding of the theory of the firm and how it provides insights into modern business enterprises. You will also develop your understanding of competition between firms and the strategies firms adopt to better cope with this, along with an understanding of the regulatory constraints imposed by government authorities.
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| Course availability: |
MN22166 is Optional on the following courses:
School of Management
- UMMN-AFB10 : BSc(Hons) Accounting and Finance (Year 2)
- UMMN-AKB10 : BSc(Hons) Accounting and Finance with work placement (Year 2)
- UMMN-ANB12 : BSc(Hons) Business (Year 2)
Department of Politics, Languages and International Studies
- UHPL-AKB50 : BSc(Hons) International Management and Modern Languages (French) with year abroad (Year 2)
- UHPL-AKB51 : BSc(Hons) International Management and Modern Languages (German) with year abroad (Year 2)
- UHPL-AKB52 : BSc(Hons) International Management and Modern Languages (Spanish) with year abroad (Year 2)
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Notes: - This unit catalogue is applicable for the 2024/25 academic year only. Students continuing their studies into 2025/26 and beyond should not assume that this unit will be available in future years in the format displayed here for 2024/25.
- Courses and units are subject to change in accordance with normal University procedures.
- Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.
- Find out more about these and other important University terms and conditions here.
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