Microeconomics are crucial for understanding consumers and producers, how they interact and make decisions. If you want to have a successful career as a manager or entrepreneur, understanding these relationships and motivations is a huge step in the right direction. You'll learn how to apply microeconomic theories and tools to understand these relationships in real world situations, exploring the motivations and reasons behind resource allocation, pricing policy, and carrying out cost benefit analysis. Your ability to bring your knowledge and skills to real life situations will make both employers and investors sit up and take notice, so you can make rapid progress in your career.
Total contact hours: 24
Private study hours: 126
Total study hours: 150
Main assessment methods
VLE Test 1 (20%)
VLE Test 2 (20%)
Examination, 2 Hour (60%)
Reassessment methods
Reassessment Instrument: 100% examination
See the library reading list for this module (Medway)
The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
1. Demonstrate knowledge of the underlying concepts, competing theories and basic principles of microeconomics.
2. Understand the effect of economic forces on business decisions, behaviour and performance.
3. Present and evaluate economic data and develop well-structured lines of economic argument, offering critical comment on the arguments of others.
4. Demonstrate a knowledge of the importance of microeconomics in understanding current business issues in the UK, Europe and internationally.
The intended generic learning outcomes.
On successfully completing the module students will be able to:
1. Retrieve information from a variety of sources.
2. Undertake independent and self-managed learning.
3. Draw on social science concepts and theories in decision-making situations.
4. Communicate effectively to a variety of audiences and/or using a variety of methods
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