Economics of Management Strategy
| Module title | Economics of Management Strategy |
|---|---|
| Module code | BEE3063 |
| Academic year | 2021/2 |
| Credits | 15 |
| Module staff | Luke Lindsay (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 |
| Number students taking module (anticipated) | 150 |
|---|
Module description
This module will focus on the behaviour of firms and the strategies they use. It will consider how different cost structures affect incentives, competition between firms and market outcomes; the different strategies firms can use to influence the market environment in order to increase profits; and how government regulators attempt to limit anti-competitive behaviour. It will draw on game theory and theories from industrial organisation and apply them to real world case studies.
Module aims - intentions of the module
The module aims to develop understanding of theoretical models and the ability to apply economic theory to real world business problems. Quantitative skills will be developed through a series of online assessments. Critical thinking and communication skills will be developed in tutorials through group work and student presentations.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Explain theoretical models of firm behavior and market organisation
- 2. Use quantitative methods to analyse firm behavior
- 3. Formulate strategies for firms to follow
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 4. Apply economic theory in case studies
- 5. Evaluate the insights alternative theoretical models offer in case studies
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 6. Demonstrate problem solving skills
- 7. Demonstrate critical thinking and communication skills
Syllabus plan
Selected topics in industrial organisation will be covered. Material will mostly be drawn from chapters in Carlton & Perloff as well as some other sources. The main topics covered will be as follows:
- Costs (e.g. cost minimisation, different optimisation techniques)
- Market Structure (e.g. different types of competition, product differentiation)
- Strategies and conduct (e.g. price discrimination, bundling, entry deterrence)
- Information and advertising
- Dynamic models (e.g. selling durable goods, research and development)
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 24 | 126 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Lectures | 20 | |
| Tutorials | 4 | |
| Guided Independent Study | 126 |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Practical Online Test | 1 online test | 1,2,3 | Written/Verbal |
| Group Presentations | 3 presentations in tutorials | 1,2,4,5,6 | Written/Verbal |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 25 | 70 | 5 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Online tests | 25 | 4 online tests, one every two weeks | 1,2,3 | Online solutions, office hours |
| Group Presentation | 5 | 1 presentation in tutorial | 1,3,4,5,6 | Verbal & written |
| Examination | 70 | 1.5 hours | 1,2,4,5,6 | Verbal & written |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Online tests, group presentation and exam | 100% Exam (1.5 hours) | 1-6 | August |
Indicative learning resources - Basic reading
Basic reading: Carlton, D. W. and Perloff, J. M. (2015) Modern Industrial Organization (4th Global Edition), Pearson
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | A level Maths or BEE1035 and BEE2038 and BEE2039 or A level Maths or BEE1035 and BEE2024 |
| Module co-requisites | Cannot be taken with BEE2025 or BEE3037 |
| NQF level (module) | 6 |
| Available as distance learning? | No |
| Origin date | 14/03/2018 |
| Last revision date | 08/11/2018 |
