A review of the neoclassical theory of the firm. Team Production, agency theory, transaction costs and property rights, corporate governance. These theoretical approaches will be elaborated and developed in close conjunction with applied economic studies, for example, in "make or buy" strategies, contract compliance, contract incompleteness, etc.

This module will explore Economic Analysis of the Firm and its importance to the organization and its agile decision making. It will explore the nuances of Economics and Competitor Intelligence and link it to Strategic marketing to help steer the company and the thrust to growth. The module will also focus on the strategic competitor audit and how to create a response marketing plan so that the organization can be robust and competitive.

LO 1,2 3&4 – weighted at 100%

The learning strategy for this module is based around students committing a total of 150 hours of activities towards achieving the learning outcomes. These will be split between 39 hours of direct contact with a tutor and 111 hours of directed, guided and self-study, together with preparation for and completion of the assessment tasks. Learning support material will be provided for the module.

The module will draw upon a mixture of activities including lectures, web-based activities, case study analysis, relevant videos and in-class discussions, individual and group problem solving and self-directed learning.

Module Learning Outcome:
LO1 - Demonstrate a systematic understanding of the broad developments in the current economics of firms, markets and contracts

University Learning Outcome:
Analysis
Knowledge & Understanding

Module Learning Outcome
LO2 - Develop critical analytical skills, including mathematical presentation, to interpret the latest developments in the key areas of the literature

University Learning Outcome:
Analysis
Problem Solving

Module Learning Outcome:
LO3 - Critically evaluate recent applied studies with reference to empirical evidence

University Learning Outcome:
Application
Learning

Module Learning Outcome:
LO4 - Critically analyze competitive activity to help make better-informed decisions and enhance organizational performance by discovering risks and opportunities before they become readily apparent.

University Learning Outcome:
Analysis
Problem Solving

VLE learning material

Module handbook

Selected contemporary case studies

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

Hart, O. (1995). Firms, Contracts and Financial Structure. Oxford: OUP.

Hendrikse, G. (2003). Economics and Management of Organisations. McGraw Hill.

Kreps, DM. (2004). Microeconomics for Managers. NY. WW Norton & Co.

Milgrom P and Roberts J. (1992). Economics, Organization and Management. Englewood Cliffs NJ : Prentice Hall

N/A

A review of the neoclassical theory of the firm. Team Production, agency theory, transaction costs and property rights, corporate governance. These theoretical approaches will be elaborated and developed in close conjunction with applied economic studies, for example, in "make or buy" strategies, contract compliance, contract incompleteness, etc.

This module will explore Economic Analysis of the Firm and its importance to the organization and its agile decision making. It will explore the nuances of Economics and Competitor Intelligence and link it to Strategic marketing to help steer the company and the thrust to growth. The module will also focus on the strategic competitor audit and how to create a response marketing plan so that the organization can be robust and competitive.