ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title ECONOMICS FOR MANAGEMENT
Code ECON722
Coordinator Dr J Tena Horrillo
Economics
J.Tena-Horrillo@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2019-20 Level 7 FHEQ Second Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 12

   12

       24
Timetable (if known)              
Private Study 126
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Examination There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When) :Second  2 hours    70       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Group Assignment There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When) :Second  1500 words    30       

Aims

To enhance students’ understanding of how economics illuminates consumer and firm behaviour and industry structure;

To encourage students to use economic tools in their approach to other modules and to their future professional life;

To help students to see the richness of possibilities arising from the use of economics in business and management research, both academic and practical.

Learning Outcomes

(LO1) Appreciate the role of economics tools in business and management decisions;

(LO2) Be able to use basic economic concepts in their approach to other modules and to their professional work;

(LO3) Be able to recognise simple economic models presented using graphs or algebra;

(LO4) Be familiar with basic techniques of empirical work in economics;

(LO5) Be able to write a report researching the demand environment for a particular good or service.

(S1) Adaptability

(S2) Problem solving skills

(S3) Numeracy

(S4) Commercial awareness

(S5) Teamwork

(S6) Organisational skills

(S7) Communication skills

(S8) IT skills

(S9) International awareness

(S10) Lifelong learning skills

(S11) Ethical awareness

Teaching and Learning Strategies

Teaching Method 1 - Lecture
Description: The lectures are intended to address, in particular, the (core) conceptual issues of the topics covered in the syllabus.
Attendance Recorded: Not yet decided

Teaching Method 2 - Tutorial
Description: Tutorials will deepen the students' understanding of the lecture contents by discussing open questions resulting from the lectures and by working through appropriate exercises.
Attendance Recorded: Not yet decided

Syllabus
 

Introduction to the module and ‘thinking Like an economist’;

Demand and supply and market equilibrium;

Elasticity;

Supply decisions: costs, revenue and profit;

Policy intervention and welfare I;

Policy intervention and welfare II;

Perfectly competitive markets;

Monopoly;

Imperfect competition: oligopoly and monopolistic markets;

Asymmetric information;

Political economy I;

Political Economy II.

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.