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MGT6128: Managerial Economics
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Managerial Economics (MGT6128)
Added on 2022-01-22
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MGT6128:
Managerial Economics
2020-21
Introduction: Week 1
whole group tutorial
Managerial Economics
2020-21
Introduction: Week 1
whole group tutorial
What is managerial economics?
Management economics is concerned with the
application of economic principles and
methodologies to business and management
decision-making, in order to make the most
effective use of an organisation’s scarce
resources
Management economics is concerned with the
application of economic principles and
methodologies to business and management
decision-making, in order to make the most
effective use of an organisation’s scarce
resources
Two pillars of economics
• Microeconomics: analyses the decisions of
individual consumers, firms & industries
related to buying, producing, & selling goods
& services
• Macroeconomics: focuses on the overall level
of economic activity, inflation, unemployment
etc. by analysing aggregate economic
behaviour
• Microeconomics: analyses the decisions of
individual consumers, firms & industries
related to buying, producing, & selling goods
& services
• Macroeconomics: focuses on the overall level
of economic activity, inflation, unemployment
etc. by analysing aggregate economic
behaviour
Module aims
Primarily focused on microeconomics but with
an appreciation of national policy setting and
governmental strategies, the module aims to
equip management students with the economic
literacy and skills that will enable them to make
optimal and economically efficient decisions
based on an understanding of the factors of
production, market forces and productivity
Primarily focused on microeconomics but with
an appreciation of national policy setting and
governmental strategies, the module aims to
equip management students with the economic
literacy and skills that will enable them to make
optimal and economically efficient decisions
based on an understanding of the factors of
production, market forces and productivity
Module learning outcomes
On successful completion of this module students will:
• Appreciate the need to understand the nature of the
market for different products & services;
• Be able to apply economic theory to different business
situations;
• Understand basic concepts of microeconomics
including supply, demand, price and income elasticities
and alternative market structures;
• Understand basic concepts of macroeconomics
including trade, policy, the role of government and
growth.
On successful completion of this module students will:
• Appreciate the need to understand the nature of the
market for different products & services;
• Be able to apply economic theory to different business
situations;
• Understand basic concepts of microeconomics
including supply, demand, price and income elasticities
and alternative market structures;
• Understand basic concepts of macroeconomics
including trade, policy, the role of government and
growth.
Module content and whole group activities: 1st
half of module before Easter vacation
• Introduction (week 1, live & interactive whole group
Blackboard Collaborate tutorial- AG)
• Workings of competitive markets (week 1 recorded
lecture- DW)
• Consumers and demand (week 2, recorded lecture- DW)
• Supply decisions in a perfectly competitive market (week
3, recorded lecture- DW)
• Price and output decisions in imperfectly competitive
markets (week 4, recorded lecture- DW)
• Business growth and strategy (week 5, recorded lecture-
DW)
half of module before Easter vacation
• Introduction (week 1, live & interactive whole group
Blackboard Collaborate tutorial- AG)
• Workings of competitive markets (week 1 recorded
lecture- DW)
• Consumers and demand (week 2, recorded lecture- DW)
• Supply decisions in a perfectly competitive market (week
3, recorded lecture- DW)
• Price and output decisions in imperfectly competitive
markets (week 4, recorded lecture- DW)
• Business growth and strategy (week 5, recorded lecture-
DW)
Module content and whole group activities: 2nd
half of module after Easter vacation
• Regulation and public policy (week 6, recorded lecture- AG)
• Macroeconomic environment 1 (week 7, recorded lecture-
AG)
• Macroeconomic environment 2 (week 8, recorded lecture-
AG)
• International trade (week 9, recorded lecture- AG)
• Review of module material relating to the assessed report,
assessment support and Q&A (week 9, live & interactive
whole group Blackboard Collaborate tutorial- AG)
• Multinational firms & strategy in a global environment
(week 10, recorded lecture- AG)
• Short review of the module and of a broad case study /
analysis of a paper applying various components of the
module (week 10, live & interactive whole group
Blackboard Collaborate tutorial- AG)
half of module after Easter vacation
• Regulation and public policy (week 6, recorded lecture- AG)
• Macroeconomic environment 1 (week 7, recorded lecture-
AG)
• Macroeconomic environment 2 (week 8, recorded lecture-
AG)
• International trade (week 9, recorded lecture- AG)
• Review of module material relating to the assessed report,
assessment support and Q&A (week 9, live & interactive
whole group Blackboard Collaborate tutorial- AG)
• Multinational firms & strategy in a global environment
(week 10, recorded lecture- AG)
• Short review of the module and of a broad case study /
analysis of a paper applying various components of the
module (week 10, live & interactive whole group
Blackboard Collaborate tutorial- AG)
