Business Economics - MA309

Location Term Level Credits (ECTS) Current Convenor 2019-20
Canterbury
(version 2)
Autumn and Spring
View Timetable
4 15 (7.5) MR A James

Pre-requisites

None

Restrictions

None

2019-20

Overview

The aim of this module is to introduce students to core economic principles and how these could be used in a business environment to understand economic behaviour and aid decision making. The coverage is sufficient to enable students to gain exemption from the Actuarial profession's Business Economics examination (CT7 up to 2018, CB2 from 2019), whilst giving a coherent coverage of economic concepts and principles. The syllabus includes: 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.

Details

This module appears in:


Contact hours

60 hours

Method of assessment

80% Examination, 20% Coursework

Indicative reading

John Sloman, Dean Garratt, Jon Guest, Elizabeth Jones (2016) Economics for Business 7th Ed (Pearson)
The Actuarial Education Company Subject CT7 (CB2 from 2019) study notes support the synopsis.

See the library reading list for this module (Canterbury)

Learning outcomes

The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
1 show a systematic knowledge, understanding and critical awareness of key areas of economic theory;
2 show comprehensive understanding of the complex techniques used to solve problems in economics;
3 demonstrate appreciation of 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:
1 demonstrate a logical mathematical approach to solving complex problems including cases where information/data is not complete;
2 apply skills in written communication to both technical and non-technical audiences;
3 apply skills in the use of relevant information technology;
4 apply skills in time management, organisation and studying so that tasks can be planned and implemented at a professional level.

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