The subject is designed to give students an in-depth exposure to the application of economic concepts in a business environment
Managerial Economics
Opportunity cost and efficiency: profits - role and importance. Demand, measurement and forecasting: applications of elasticity. Costs of production: economies of scale - external and internal. Pricing and product policies.
Theory and Growth of Firms
Classical, managerial and behavioural theories of the firm. Growth of firms - integration, mergers and diversification: multinationals. Measurement of industrial and market structure. Competition policy and EU legislation.
Finance and Investment
Private investment - assessment of opportunities, appraisal techniques, uncertainty. Sources of finance - short term and long term.
Public investment: cost benefit analysis.
Government and Industry
Historical development: multinationals: contemporary issues - globalisation and information economy.
Role of government policy in relation to industry: role of state agencies. Industrial policy: Nationalised industries: Privatisation. Role and importance of small firms.
A variety of methods will be considered including lectures, tutorials, selfassessment, projects and prepared student presentations on topics.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 60 |
| Other Assessment(s) | 40 |