About This Course
This module focuses on the use of scarce resources to guide decision making in uncertain environments. Firms that better manage their scarce resources (including capital, people, and data) will be better positioned to thrive in an increasingly competitive - and global - marketplace. To be successful firms need to leverage every advantage they can and be guided by evidence.
Learning Outcomes
- Comprehend, evaluate, appreciate and assimilate the scope and constraints imposed by law and regulation.
- Critically analyse data from primary and secondary sources and understand their use in guiding decision making.
- Critically analyse the importance of managerial economics in a contemporary organisation.
- Critically comprehend the implications of different strategic decisions for the organisation and the evidence used to guide them.
- 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 based on theoretical and empirical evidence.
- Understand, identify and judge the efficacy of different managerial policies and theories.
Learning Methods
This module is delivered through means of distance learning and on a part time basis, where you can study at your own pace, no matter where you are in the world. A combination of interactive classes and recorded lectures are provided throughout the 6 months semester, providing participants with a good work-life balance.
Blackboard is the virtual learning environment (VLE) used by Bangor University where each module benefits from a bespoke area within the platform where all study resources are held. Resources include study guides, e-textbooks and access to the online library.
Means of Assessment
This module is assessed by means of an individual assignment (40%) and examination (60%).
This module is offered as part of the syllabus on the Chartered Banker MBA (CBMBA) programme. Should you wish to advance to the CBMBA, successful completion of this module will provide an exemption to this module.
Course Content
What will you study on this course?
The broad aim is to give students a set of practical skills and an understanding of the concepts that underpin good managerial practice.
The first part of the module focuses on economics of ‘managing operations’. This includes aspects related to: the economics of the consumer; the economics of the firm (including economies of scale and scope); the economics of competition; and transaction cost economics. Attention is then turned to economics of ‘managing people’, with relevant topics covered including incentives and Nudge Economics; information asymmetry, moral hazard and adverse selection; the principal-agent problem (agency problems); human capital and signalling and Tournament Theory.
The third and fourth units go on to explore topics relating to ‘managing data’ and ‘managing knowledge’, respectively. Managing data involves a framework of related concepts – e.g., what is meant by data, and how firms use data to better manage operations and people – and analytical tools relevant to applied research, including study design and sampling. Managing knowledge expands to consider themes including: what is knowledge?; thinking in bets – using probability to guide decision making; validity, reliability and generalizability; and thinking fast and slow – cognitive (and other forms) of bias.
Course Cost
The cost of this course is £1,700
Entry Requirements
Aimed at mid-career professionals working in the financial industry or regulation. Entry consideration will be given to individuals with minimal experience or qualifications.
English Language Requirements
Applicants must have a high level of fluency in the English language. The English language tests we normally refer to are as follows;
- IELTS: 6.0 (with no element below 5.5)
- Pearson PTE: a score of 56 (with no element lower than 51)
- Cambridge English Test – Advanced: 169 (with no element lower than 162)
Application
How to Apply
Please make sure you read and follow the step-by-step application guide as this will specify which sections of the application form are compulsory for the type of course you want to apply for and save you time.
Please prepare the following information (in a Word document):
- Current employment details;
- Years of experience, and employment history (where relevant)
- Name of staff member and organisation that have approved your funding for this module.
This will speed up the process of completing the application form.
To apply for this course, you need to create an account in our APPLICANT PORTAL
You will need access to the email address you specify while creating your account to confirm it.
After creating an account, you will see a homepage with several tabs:
- Personal
- Programme
- Info
- Contact
- Education
- Employment
- Language
- Finance
You need to complete all sections before submitting your application.
When a section is complete, a ‘tick’ symbol will appear below it.
- Click on ‘Non-graduating applications / Stand alone Modules’, then select ‘Non-graduating Undergraduate’.
- In the next section, select Non-Graduating Taught Modules, Click Save and Continue.
- On the next page, the default for the first question is Full Time. You need to change this to ‘Part time’:
- You now need to input the module code. Managing Resources: An Analytic Foundation : the code is ASB-9034. This section must be completed for your application to be processed.
- You also need to state the start date. Please make your selection, then click ‘Save and Continue’.
- IMPORTANT: You do not need to write a personal statement to apply for this course. Instead, please upload the document including employment, experience and education information that you have created prior to starting the application that contains the name of your current employer, the number of years of experience you have, and your highest qualification to date. Click Save and continue.
You only need to enter the details of your highest qualification to date, e.g. if you have a postgraduate qualification, please only only include this.
You will be asked for evidence of the qualification. Please either upload a copy of your qualification if it's easily accessible, or upload the Word document again (that you prepared earlier).
(details not required as you've already prepared this)
Please scroll to the bottom of the page and click on ‘I have no employment history’ (as you have already provided this in your Word document).
please answer the questions as follows:
- How will you finance your studies?
- Exact name of funding authority:
- Country: United Kingdom
- Give details of the amount of the award?
- Sponsorship will cover: Tuition Fees
- Have you been awarded this funding? Please select ‘yes’ * Note that you will be required to upload evidence of the funding. If you wish to confirm ‘yes’ to this question, but do not have any written confirmation to upload, you can upload your Word document here again.
If you are self-funding, please provide all details as appropriate.