MN12009: Business economics
[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: | Certificate (FHEQ level 4) |
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Assessment Summary: | EXCB 100% |
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Synopsis: | Use microeconomics to develop an understanding of the markets in which firms operate. You'll explore a range of microeconomic concepts, including some of the models and analytical tools used by economists. You'll learn how these are helpful in making business decisions and how they help provide insights into the nature of the competitive environment. |
Content: | You will be introduced to business economics from first principles, with a particular focus on microeconomic theory of the firm and industry, and related analytical frameworks. Likely topics to be covered include: consumer behaviour; demand and supply determination, production and costs, structure of product markets, pricing possibilities, The five forces affecting industry profitability, the intensity of rivalry between firms and measurement of monopoly power, oligopoly price and non-price behaviour under conditions of competition and co-operation, barriers to entry and entry deterrence, and the impact of government competition policy on strategic options.
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Course availability: |
MN12009 is Compulsory on the following courses:School of Management
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