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Module Title LC Economics for Business
SchoolBirmingham Business School
Department Birmingham Business School
Module Code 07 22684
Module Lead Prof. Fiona Carmichael
Level Certificate Level
Credits 20
Semester Full Term
Pre-requisites
Co-requisites
Restrictions BSc Business Management, International Business only
Contact Hours Lecture-0 hours
Seminar-0 hours
Tutorial-0 hours
Project supervision-0 hours
Demonstration-0 hours
Practical Classes and workshops-0 hours
Supervised time in studio/workshop-0 hours
Fieldwork-0 hours
External Visits-0 hours
Work based learning-0 hours
Guided independent study-0 hours
Placement-0 hours
Year Abroad-0 hours
Exclusions
Description

This module provides students with an introduction to core micro and macro-economic theory and principles in a business context.  It combines basic micro and macroeconomis with cases/applications to provide students with the ability to understand and analyse current and topical economics issues with relevance for business.

Topics typically covered may include:  Microeconomic issues such as demand and supply analysis; elasticity; cost analysis; influence of market structure; perfect and imperfect competition; monopoly and oligopoly; market failures; government intervention in the market. Macroeconomic issues such as economic growth; unemployment and inflation; Keynesian analysis; monetary policy; European Monetary Union; international trade.

Learning Outcomes

On completion of this module the student should be able to:

  • demonstrate knowledge and understanding of the meaning of key microeconomic and macroeconomic concepts relating to supply and demand, market structure, costs and market failures, macroeconomic policy and international trade;
  • Apply diagrammatic analysis to demonstrate the broad principles involved in the microeconomic theory of markets and market failures and macroeconomic policy decisions;
  • analyse real world cases and economic problems faced by individuals, business and governments using micro and macroeconomic principles and models;
  • interpret and apply economic principles and models to understand and analyse the business and economic environment in which we live and work, and to appraise the impacts of economic decisions and events.
Assessment 22684-03 : exam : Exam (Centrally Timetabled) - Written Unseen (100%)
Assessment Methods & Exceptions 2 hr examination (70%) 2 x class tests (15% each) Reassessment: 2 hour examination (100%)
Other
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