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 | MANAGERIAL ECONOMICS | ||
Code | ULMS848 | ||
Coordinator |
Prof ET Maitland Strategy, IB and Entrepreneurship E.Maitland@liverpool.ac.uk |
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Year | CATS Level | Semester | CATS Value |
Session 2019-20 | Level 7 FHEQ | First Semester | 10 |
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 |
20 |
8 |
28 | ||||
Timetable (if known) | |||||||
Private Study | 72 | ||||||
TOTAL HOURS | 100 |
Assessment |
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EXAM | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |
CONTINUOUS | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |
Individual assignment There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When): Semester one | -2000 words | 70 | ||||
Group report There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When): Semester one | -3000 words | 30 |
Aims |
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This module aims to provide students with an understanding of key economic concepts, tools and techniques which can be applied to analyse and make decisions about organisational performance. |
Learning Outcomes |
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(LO1) Develop an understanding of key economic principles and apply these to analyse business enterprises; |
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(LO2) Understand competitive forces, formulate rational managerial decisions and allocate resources efficiently; |
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(LO3) Understand the key elements involved in determining market structure, and the impact of market structure on organisations; |
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(LO4) Access a range of data sources and develop advanced data analysis skills. |
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(S1) Numeracy. Developed through seminar activity, individual practice and feedback. |
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(S2) Commercial awareness. Developed through readings, case study examples, exercises. |
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(S3) Teamwork. Developed through group exercises and the group work assessment. |
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(S4) Communication skills. Developed through seminar readings and class discussion. |
Teaching and Learning Strategies |
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Lectures x 20 hours Seminars x 8 hours Students will be taught in half/full day blocks. Self-directed learning x 72 hours Independent study. Students will be directed to prepare for each block of teaching by reading specific identified resources. Further hours will be spent undertaking further reading, research for their individual assignment, and research/preparation for the group assignment. |
Syllabus |
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Introduction, market allocation and demand; Production, costs, supply and market structures; Pricing with market power, creating and capturing value; Game theory; Devising and managing incentives; Economics for managerial decision-making. |
Recommended Texts |
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Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module. |