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, and to provide a coherent coverage of economic concepts and principles. Indicative topics covered by the module include the working of competitive markets, market price and output determination, decisions made by consumers on allocating their budget and by producers on price and output, and different types of market structures and the implication of each for social welfare, the working of the economic system, governments' macroeconomic objectives, unemployment, inflation, economic growth, international trade and financial systems and financial crises.
This module will cover a number of syllabus items set out in Subject CB2 – Business Economics published by the Institute and Faculty of Actuaries.
Total contact hours: 48
Private study hours: 102
Total study hours: 150
75% Examination, 25% Coursework
John Sloman, Dean Garratt, Jon Guest and Elizabeth Jones (2016), Economics for Business 7th Ed (Pearson)
The Actuarial Education Company Subject CB2 study notes support the above text.
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:
1 show a systematic knowledge, understanding and critical awareness of economic theory
2 show a comprehensive understanding of the complex techniques applicable to solve problems in economics
3 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
level
University of Kent makes every effort to ensure that module information is accurate for the relevant academic session and to provide educational services as described. However, courses, services and other matters may be subject to change. Please read our full disclaimer.
