ACC2002 : Managerial and Business Economics
- Offered for Year: 2024/25
- Module Leader(s): Professor Simon Hussain
- Lecturer: Dr Xuejun Jiang, Professor David Higgins
- Owning School: Newcastle University Business School
- Teaching Location: Newcastle City Campus
Semesters
Your programme is made up of credits, the total differs on programme to programme.
| Semester 1 Credit Value: | 10 |
| Semester 2 Credit Value: | 10 |
| ECTS Credits: | 10.0 |
| European Credit Transfer System | |
Aims
To introduce students to economic issues and decision-making tools, relating to major topics like demand analysis and estimation, production and cost functions, and decision making with differing market structures.
Outline Of Syllabus
OPTIMISATION: A BRIEF REVIEW
CONSUMPTION & DEMAND
- Axioms of traditional consumer theory
- Quantitative demand analysis
- Indifference curves, consumption decisions and demand
PRODUCTION, COSTS & SUPPLY
- Economic analysis of production
- Cost functions
- The organization of the firm
MARKET STRUCTURE & PERFORMANCE OUTCOMES
- Monopoly, price discrimination and welfare
- Monopolistic competition
- Models of Oligopoly: Cournot; Stackelberg; The kinked demand curve
- Game theory
MARKET STRUCTURE, FIRM STRATEGY & PERFORMANCE
- Empirical evidence on SCP paradigm and concentration - profitability
- Resource based view of the Firm
- Persistance of profit
ANALYSIS OF FIRM STRATEGY
- Product differentiation
- Advertising
- Barriers to entry
THEORIES OF THE FIRM
- Neoclassical
- Behavioural
- Transaction-costs perspectives
Teaching Methods
Teaching Activities
| Category | Activity | Number | Length | Student Hours | Comment |
|---|---|---|---|---|---|
| Structured Guided Learning | Lecture materials | 1 | 1:00 | 1:00 | Pre-recorded materials (Calculus primer = 1 hour in Semester 1 - first teaching week) |
| Guided Independent Study | Assessment preparation and completion | 1 | 55:00 | 55:00 | For completion of summative and formative assessments. |
| Scheduled Learning And Teaching Activities | Lecture | 9 | 1:00 | 9:00 | Semester 1: PiP lectures (1 hour per week for 9 weeks = 9 hours). |
| Scheduled Learning And Teaching Activities | Lecture | 9 | 2:00 | 18:00 | Semester 2: PiP lectures (2 hours per week for 9 weeks = 18 hours). |
| Guided Independent Study | Directed research and reading | 1 | 66:00 | 66:00 | Includes a component related to the project plus reading on lecture topics. |
| Scheduled Learning And Teaching Activities | Small group teaching | 6 | 1:00 | 6:00 | PiP - 3 x 1 hour sessions in Sem 1 and 3 x 1 hour sessions in Sem 2. |
| Structured Guided Learning | Structured non-synchronous discussion | 4 | 0:30 | 2:00 | Non-synch discussion board. Two per semester (30 min each). |
| Guided Independent Study | Independent study | 1 | 38:00 | 38:00 | Independent study - general. |
| Scheduled Learning And Teaching Activities | Scheduled on-line contact time | 5 | 1:00 | 5:00 | Zoom sessions for project held in following weeks 7/11, 14/11, 21/11, 28/11, 5/12 |
| Total | 200:00 |
Jointly Taught With
| Code | Title |
|---|---|
| ACC2063 | SA Sem 1 Managerial and Business Economics |
Teaching Rationale And Relationship
Formal lecture materials are used to explain the issues, and to introduce concepts and techniques. Seminar sessions are held throughout the year, designed to be both explanatory and interactive and offering the opportunity to explore issues raised in lectures. Students have the opportunity to develop and practise key skills in these sessions. Students are able to judge their progress in the module through these sessions.
Assessment Methods
The format of resits will be determined by the Board of Examiners
Exams
| Description | Length | Semester | When Set | Percentage | Comment |
|---|---|---|---|---|---|
| Written Examination | 120 | 2 | A | 75 | N/A |
Other Assessment
| Description | Semester | When Set | Percentage | Comment |
|---|---|---|---|---|
| Report | 1 | A | 25 | 1200 word report |
Formative Assessments
Formative Assessment is an assessment which develops your skills in being assessed, allows for you to receive feedback, and prepares you for being assessed. However, it does not count to your final mark.
| Description | Semester | When Set | Comment |
|---|---|---|---|
| Prob solv exercises | 1 | M | Practice questions (e.g. past exams) |
| Prob solv exercises | 2 | M | Practice questions (e.g. past exams) |
Assessment Rationale And Relationship
Formal examination tests the students' intended knowledge outcomes and their ability to write about specific models/issues and solve numerical problems. The 1200 word report provides an opportunity for students to demonstrate their business knowledge and written communication (report writing) skills.
In the case of an alternative semester 2 assessment (worth 75% of the overall module mark) being necessary due to circumstances, the module leader will in the first instance consult with the DPD as to the requirements of the professional accrediting body to discuss possible acceptable alternatives. In 2020/21 this alternative was a 24 hour take home exam delivered online, and it is envisioned that if circumstances do not allow a present-in-person timed exam at the end of semester 2, and the professional body agrees, than this may well be an example of the type of alternative assessment which could be put in place.
Reading Lists
Timetable
- Timetable Website: www.ncl.ac.uk/timetable/
- ACC2002's Timetable