End of teaching block 1 written assignment , 1500 words (Tests All Learning Outcomes)

OR

End of teaching block 2 - examination of 2 hours Tests All Learning Outcome)

This module will look at basic issues of scarcity, choice, value, and how and why resource allocation may be organised in free markets, or in controlled markets, or by government. Supply, demand, money, prices, elasticity, and markets in both the `formal' and `informal' economies will be examined. The business organisation and its environment, enterprise and risk, finance, deindustrialisation, and business and competitive structures will be described. Short run and long run costs, fixed and variable costs, average, total and marginal costs, economies and diseconomies of scale, minimum efficient scale and the growth of businesses, either organically or through mergers and takeovers, will be studied. Business structure, behaviour, pricing and output strategies, and the need for government regulation of business activity will be discussed.

1. A BASIC KNOWLEDGE OF THE UNDERLYING CONCEPTS AND PRINCIPLES ASSOCIATED WITH THEORIES IN THE DISCIPLINE AREA OF MICROECONOMICS.
Knowledge & Understanding

2. DEVELOP LINES OF ARGUMENT AND MAKE SOUND JUDGMENTS IN ACCORDANCE WITH BASIC MICROECONOMIC THEORIES AND CONCEPTS.
Learning
Reflection

3. DEVELOP SUBJECT SPECIFIC SKILLS AND TRANSFERABLE CONCEPTS
Application

4. INTERPRET QUALITATIVE AND QUANTITATIVE DATA ON THE MICROECONOMY.
Analysis
Enquiry

5. APPLY ELEMENTARY CONCEPTS TO SOLVE BASIC ECONOMIC PROBLEMS
Problem Solving

6. REFELECT ON THE LIMITATIONS OF THE BASIC ECONOMIC FRAMEWORK
Reflection

The learning strategy for the module requires students to commit 150 learning hours (including assessment) of this there will be 36 hours of class support and 114 hours of independent and self directed study (24 hours of formal lectures/large group activities, 12 hours of tutorials). Learning support material will be provided for the module

The class contact hours will be devoted to a variety of learning activities and environments including experiencing lecture material, worksheets and exercises, group discussions and presentations, and the use of AVA material such as video recordings. The independent study time will include directed reading and preparation for classes, the use of resources such as `WinEcon' online or via CD-ROM, the use of web sites linked to the recommended texts and other web resources, as well as preparation for assessments.

Students will be provided with formative feedback via the use of multi-choice tutorial question sheets and other class-based exercises, and will be encouraged to use on-line multi-choice question resources for the same purpose.

Recommended texts, library facilities, university web pages, on-line resources including Sloman's web pages and student support material, software packages like `WinEcon', word processing facilities.

FOR INTERNATIONAL COLLABORATIVE PARTNERS ONLY

Evans D."A student's guide to Corporate Finance and Financial Management". Kaplan publishing.2011`

Wood, F and Sangster A. (2011) Business Accounting, 12th Ed, (IFRS version), Pearson, ISBN13: 9780273759287