Module ASB-9034:
Managerial Economics
Managerial Economics 2023-24
ASB-9034
2023-24
Bangor Business School
Module - Semester 1
15 credits
Module Organiser:
Stephen Jones
Overview
This module considers the managerial theories of the firm, including production and costs, market structures, strategic pricing and competition policy. The module emphasises the importance of an economic understanding of how modern firms behave, from managerial behaviour to production methods, and a detailed analysis of cost controls. The objective of the module is to expose the student to a challenging perspective on evaluating firms and management in areas as diverse as pricing policy and rival behaviour in inter-dependent markets. The module examines the key concepts of managerial economics and applies these to real world scenarios.
This module considers the managerial theories of the firm, including production and costs, market structures, strategic pricing and competition policy. The module emphasises the importance of an economic understanding of how modern firms behave, from managerial behaviour to production methods, and a detailed analysis of cost controls. The objective of the module is to expose the student to a challenging perspective on evaluating firms and management in areas as diverse as pricing policy and rival behaviour in inter-dependent markets. The module examines the key concepts of managerial economics and applies these to real world scenarios.
Assessment Strategy
Threshold C- to C+ (50-59%): Satisfactory performance. No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives. Knowledge of key areas/principles only. Weaknesses in understanding of some areas. Limited evidence of background study. Answer inadequately focused on task and with some irrelevant material and poor structure. Arguments presented but lack coherence. Minor factual/computational errors. Lacking original interpretation.
Good B- to B+ (60-69%): Good performance. Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills. Understands most but not all concepts/issues. Evidence of background study. Focused answer with good structure. Arguments presented coherently. Mostly free of factual errors. Some limited original interpretation. Well known links between topics are described. Problems addressed by existing methods/approaches. Good presentation with accurate communication
Excellent standard: 70+ An outstanding performance, exceptionally able. The relevant information is accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.
Learning Outcomes
- Comprehend, evaluate, appreciate and assimilate the scope and constraints imposed by law and regulation.
- Critically analyse the importance of managerial economics in a contemporary context
- Critically comprehend the implications of different strategic decisions for the firm
- Critically evaluate the subject specific roles, features and relationships within and between firms.
- Demonstrate the ability to make informed management and leadership judgements and decisions.
- Understand, identify and judge the efficacy of different economic policies and theories
Assessment method
Coursework
Assessment type
Summative
Description
An individual assignment whereby the student analyses contemporary managerial economics and different economic policies and theories.
Weighting
40%
Due date
23/01/2024
Assessment method
Exam (Centrally Scheduled)
Assessment type
Summative
Description
Examination
Weighting
60%
Due date
10/03/2022