The first part of this module will provide students with a theoretical understanding of how firms operate strategically in imperfect markets.  This module will study topics relating to business structure, conduct and performance with application to the UK economy.  Students will develop a basis for understanding real competition among businesses, and also be able to analyse government industrial policy.

The second part of the module introduces macroeconomics in a business context.  It has a European focus, while taking into account developments in the US and the rest of the world.  The module aims to address why some countries have high inflation while others have price stability; why some countries have adopted the euro; and, why there was a financial crisis in 2007-9 as well as what can government do about it.

By the end of the module students should be able to:

• demonstrate a critical knowledge of economic analysis and policy issues in relation to the operation and strategic behaviour of firms in markets;
• apply economic analysis to case studies of firms;
• analyse economy-wide aggregates such as GDP, the price level, the money supply, the Central Bank's base interest rate;
• demonstrate comprehensive understanding of business cycles, foreign trade and the current financial crisis.