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 Dr S Garikipati
Economics
S.Garikipati@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2022-23 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 10

 15

       3

 28
Timetable (if known) 120 mins X 1 totaling 10
  		180 mins X 1 totaling 15
  		      36 mins X 1 totaling 3
  		 
Private Study 72
TOTAL HOURS 100

Assessment
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
Group report There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When): Semester one  0    30       
Individual assignment There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When): Semester one  0    70       

Aims

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

(LO1) Develop an understanding of key economic principles and apply these to analyse business enterprises;

(LO2) Understand competitive forces, formulate rational managerial decisions and allocate resources efficiently;

(LO3) Understand the key elements involved in determining market structure, and the impact of market structure on organisations;

(LO4) Access a range of data sources and develop advanced data analysis skills.

(S1) Numeracy. Developed through seminar activity, individual practice and feedback.

(S2) Commercial awareness. Developed through readings, case study examples, exercises.

(S3) Teamwork. Developed through group exercises and the group work assessment.

(S4) Communication skills. Developed through seminar readings and class discussion.

Teaching and Learning Strategies

2 hour lecture x 5 weeks
3 hour seminar x 5 weeks
36 minutes asynchronous or peer to peer directed learning x 5 weeks
72 hours self-directed learning

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
 

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