LAC2002 : Managerial and Business Economics (Inactive)
- Inactive for Year: 2024/25
- Module Leader(s): Dr Anastasios Evgenidis
- Owning School: Newcastle University Business School
- Teaching Location: London
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 | 18 | 0:30 | 9:00 | Structured non-synchronous discussion 18x30mins=9 |
| Guided Independent Study | Assessment preparation and completion | 30 | 1:00 | 30:00 | Non-synchronous study: preparation. |
| Structured Guided Learning | Lecture materials | 18 | 2:00 | 36:00 | Non-synchronous lecture materials |
| Scheduled Learning And Teaching Activities | Small group teaching | 6 | 1:00 | 6:00 | Synchronous seminars (three in S1 and three in S2) |
| Structured Guided Learning | Structured research and reading activities | 18 | 1:00 | 18:00 | Non-synchronous structured learning activities |
| Scheduled Learning And Teaching Activities | Drop-in/surgery | 5 | 1:00 | 5:00 | Synchronous, online |
| Guided Independent Study | Independent study | 1 | 93:00 | 93:00 | N/A |
| Scheduled Learning And Teaching Activities | Dissertation/project related supervision | 1 | 1:00 | 1:00 | Synchronous full group project feedback session (S2) |
| Scheduled Learning And Teaching Activities | Module talk | 1 | 1:00 | 1:00 | Synchronous full-group module overview sessions (start of S1) |
| Scheduled Learning And Teaching Activities | Module talk | 1 | 1:00 | 1:00 | Synchronous full group end of module reflection (S2) |
| Total | 200:00 |
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 |
Exam Pairings
| Module Code | Module Title | Semester | Comment |
|---|---|---|---|
| Managerial and Business Economics | 2 | Newcastle parent module |
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 | Seminar questions provided |
| Prob solv exercises | 2 | M | Seminar questions provided |
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.
Reading Lists
Timetable
- Timetable Website: www.ncl.ac.uk/timetable/
- LAC2002's Timetable