Course Details in 2020/21 Session

Module Title	LM Economics and Economic Policy for Business
School	Birmingham Business School
Department	Birmingham Business School
Module Code	07 28954
Module Lead	Professor Fiona Carmichael
Level	Masters Level
Credits	10
Semester	Full Term
Pre-requisites
Co-requisites
Restrictions	None
Exclusions
Description	This module will give students an understanding of the economic and the wider political and social context in which business operates. In so doing the module will look at the foundations of contemporary macro and micro economics. The module will develop in students an understanding of the factors which underpin economic analysis, and how economic contexts can vary and evolve over time. The module will also look at the linkages between economic analysis and government policy. A key focus will be the internal economics of the firm, the environment in which firms operate and in turn how these factors can, and should be used to inform management decisions. The module will introduce fundamental concepts and analytical approaches used in economics, and will show how these concepts are applied in business decision making.
Learning Outcomes	By the end of the module students should be able to: Analyse the core concepts and methods of economics. Critically appraise the constraints imposed by economic, social and political contexts on the internal decision making of the firm, and in turn how these factors constrain business strategy and decision-making. Demonstrate a critical understanding of how economic and political constraints impact on nations, organisations and the managers within them. Identify and evaluate the general impact on business of public policy. Define and explain the nature of, and critically appraise the difference between economic externalities, uncertainty and risk and demonstrate comprehensive knowledge and understanding of approaches to managing, mitigating and coping with uncertainty and risk.
Assessment
Assessment Methods & Exceptions	Assessments:< br> Group Assessments (1500 words [or equivalent] in total) – 10% Individual Assessments (3000 words [or equivalent] in total) – 90% Reassessment : 3000 word individual assignment – 100%
Other	Delivered at SIM
Reading List