Managerial Economics will explore key microeconomic and macroeconomic concepts and principles. The module will focus on exploration of economic analysis of contemporary societal topics, and the relevance of economic analysis in business settings.



In this module, you will discuss and apply different economic concepts and principles, such as: demand and supply, market equilibrium, elasticities of demand and supply, market structures, or market failures. Additionally, in this module, you will use means of economic analysis to analyse variety of contemporary societal problems and policy issues.

Assessment 1 will assess Learning Outcomes 2 and 3. Assessment 1 will be a 1,500-word essay written on a contemporary topic applying theories covered during the lectures/tutorial sessions.



Assessment 2 will assess Learning Outcome 1 and the exam will include combination of multiple-choice questions, short-answer questions, longer answer questions and calculations.

Students are expected to commit a total of 200 hours towards achieving the learning outcomes. Out of those 200 hours, 39 hours will be in direct contact with a tutor and 161 hours will be directed, guided and self-study. All the materials – including learning materials and independent learning materials – will be provided.

A mixture of activities including lectures, economic analysis, relevant videos and in-class discussions, individual and group problem-solving and self-directed learning will be utilised in this module.

1. Demonstrate knowledge and understanding of the key microeconomic and macroeconomic concepts.

Knowledge and Understanding

Learning


2. Demonstrate the knowledge and understanding of the rationale and the importance of public policies.

Knowledge and Understanding

Analysis


3. Apply economic analysis to variety of business and wider societal situations.

Analysis

Problem Solving

Application

VLE learning material

University’s library and learning resources

Selection of peer reviewed papers, research reports, official statistics, contemporary case studies

Module handbook

Selection of peer-reviewed papers and research reports will form core reading for the module.

Emerson, P.M. (2019) Intermediate Microeconomics. Corvallis: Oregon State University

Gillespie, A. (2016). Foundations of Economics. 4th edition. New York: Oxford University Press

Sloman, J. and Garratt, D. (2016). Essentials of Economics. 7th edition. London: Pearson Education

Nicholson, W. (2008) Intermediate microeconomics. London: Cengage Learning EMEA

Varian, H.R. (2006) Intermediate microeconomics: a modern approach. 7th edition. New York: W. W. Norton and Company

Economics for Managers will explore key economic concepts and how they can be utilised for the purpose of business decision making. The module will focus on the application of economic theory in business context, utilising variety of innovative teaching methods and contemporary case studies.