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Economics for Managers

Overview

  • Credit value: 15 credits at Level 7
  • Convenor and tutor: Professor Xiaming Liu
  • Assessment: an unseen examination (100%)

Module description

This module provides a background in the basic concepts of economic theory used in business and management, and assesses the macroeconomic and microeconomic environment for business and management. Topics discussed include: gains from specialisation, gains from trade, market demand, factors affecting firms, cost, profit maximisation, competition in different types of market, basic game concepts, the role of fiscal and monetary policy, exchange rates and the balance of payments. Case studies will be widely used.

Learning objectives

By the end of this module, you will be able to:

  • assess how the domestic and international environment affects business and management
  • understand the workings of different markets
  • analyse key strategies used by business enterprises for profit maximisation
  • apply a range of theoretical concepts in economics in study for other modules.