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MN12017: Business economics

[Page last updated: 09 August 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)
Period:
Semester 2
Assessment Summary: EXCB 100%
Assessment Detail:
  • Closed-book written examination (EXCB 100%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites:
Learning Outcomes:
  • Obtain basic knowledge of key areas of management such as business economics, marketing, law, information systems and operations management, and accounting and finance
  • Identify key management challenges and issues
  • Evaluate real-life management problems with a view to identifying feasible solutions
  • Critically discuss and evaluate management theory and practice
  • Identify and scope problems in context
  • Apply models, theories, and best practice to analyse problems in context



Synopsis: Develop your understanding of the markets that businesses operate in. You'll explore a range of microeconomic concepts, including some of the models and analytical tools used by economists, and how these are relevant to and helpful in making business decisions. You'll also learn about how these concepts 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.

Course availability:

MN12017 is Compulsory on the following courses:

Department of Politics, Languages and International Studies
  • UHPL-AKB50 : BSc(Hons) International Management and Modern Languages (French) with year abroad (Year 1)
  • UHPL-AKB51 : BSc(Hons) International Management and Modern Languages (German) with year abroad (Year 1)
  • UHPL-AKB52 : BSc(Hons) International Management and Modern Languages (Spanish) with year abroad (Year 1)

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.