This module focuses on the relationship between firms and markets. It looks at how markets work, how they differ, and how these differences matter to the firm. It begins by introducing students to some underlying ideas that will help them think about the subject, before moving on to describe the operations of the market itself. After learning about the laws of supply and demand, students will learn about how firms operate in different types of market, ranging from perfect competition to monopoly, and the effects of competition on consumers.
Learning Outcomes
By the end of the module students should be able to:
demonstrate understanding of basic concepts in business and economics
apply these basic concepts to real-world markets
explain the impact of different market conditions on firms and consumers
