The Economics for Business module provides an introductory overview of modern economics, including examples in microeconomics that have a bearing on the world of business, i.e., the organisation of firms, the economic implications of their objectives, and the markets in which they operate. The topics covered in the module are, however, the same as a standard introductory economics module (e.g. EC111 Introduction to Economics).
Economics for Business is designed for students with no previous background in economics. Although, the approach is analytical as befits modern economics, the analysis is pursued in a non-technical manner, with the principles developed using verbal reasoning complemented with graphical methods.
Upon completion of the module, students will be able to demonstrate an awareness of the concepts and principles central to the discipline of economics. They will be able to apply those principles to analyse elementary economic problems and to comment on their implications. Students will be able to discuss the predictions of elementary theories of the firm in a variety of market contexts (including perfect competition, monopoly and oligopoly). They will also be able to assess the implications government economic polices in the context of the theories covered in the module. The module contributes towards the key skills of problem solving, numeracy, communication, working with others, time management, and general business skills.
Employability skills include: Academic skills: Literacy, numeracy and ICT skills. Research, information and communication skills; Professional working skills: adaptability; flexibility, decision-making; External awareness: economic and business environment and policy; Personal development planning: Time management, target setting and action planning, self management, reflection and evaluation.
Economics for Business is designed for students with no previous background in economics. Although, the approach is analytical as befits modern economics, the analysis is pursued in a non-technical manner, with the principles developed using verbal reasoning complemented with graphical methods.
Upon completion of the module, students will be able to demonstrate an awareness of the concepts and principles central to the discipline of economics. They will be able to apply those principles to analyse elementary economic problems and to comment on their implications. Students will be able to discuss the predictions of elementary theories of the firm in a variety of market contexts (including perfect competition, monopoly and oligopoly). They will also be able to assess the implications government economic polices in the context of the theories covered in the module. The module contributes towards the key skills of problem solving, numeracy, communication, working with others, time management, and general business skills.
Employability skills include: Academic skills: Literacy, numeracy and ICT skills. Research, information and communication skills; Professional working skills: adaptability; flexibility, decision-making; External awareness: economic and business environment and policy; Personal development planning: Time management, target setting and action planning, self management, reflection and evaluation.