This module is not currently running in 2024 to 2025.
The module looks at the working of competitive markets, consumer demand and behaviour, product selection, marketing and advertising strategies, costs of production, production function, revenue and profit, profit maximisation under perfect competition and monopoly, imperfect competition, business strategy, the objectives of strategic management, firms' growth strategy, pricing strategies, government intervention, international trade, balance of payment and exchange rates, the role of money and interest rates in the economy, the level of business activity, unemployment, inflation, and macroeconomic policy.
Total contact hours: 36
Private study hours: 114
Total study hours: 150
Main assessment methods
Individual Essay (2000 words) (30%)
Examination, 2 hours (70%)
Reassessment method;
100% Exam
Begg, D. and Ward, D. (2016) Economics for Business, 5th Ed., Maidenhead: McGraw Hill
Sloman, J., Garratt, D., Guest, J. and Jones, E. (2016) Economics for Business 7th Ed., Harlow: Pearson Education Ltd
See the library reading list for this module (Canterbury)
The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
- Show a systematic knowledge, understanding and critical awareness of the theory in business economics
- Show a comprehensive understanding of the complex techniques applicable to solve problems in business economics
- Appreciate recent developments and methodologies in economics and the links between economic theory and its practical application in business and to critically evaluate such methodologies
The intended generic learning outcomes.
On successfully completing the module students will be able to:
- Adopt a logical mathematical approach to solving complex problems including cases where information/data is not complete
- Exhibit skills in written communication to both technical and non-technical audiences
- Use of relevant information technology
- Implement effective time management, organisation and studying so that tasks can be planned and implemented at a professional level
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