Economics for Managers

Programme Overview

This module introduces a wide range of economic concepts, theories and analytical techniques. It considers of the fundamentals of supply and demand, the microeconomic theory of the firm, the macroeconomic fiscal policy and monetary policy, and selected topics, such as international trade, financial markets, economic growth, and externalities, both positive and negative. The supply and demand model is the fundamental market model where trade-offs and choices are considered by comparing benefits and costs. Product and market structures, including perfectly competitive, monopolistically competitive, oligopolies, and monopolies, are analysed at the firm level. Macroeconomic issues of fiscal and monetary policy are explored at an aggregate level. Finally, selected topics in international trade, financial markets, economic growth, and positive and negative externalities are examined. 

Learning Outcomes

1. Demonstrate knowledge and understanding of economics concepts, tools, and models of scarcity, supply and demand, elasticity, and consumer choice. 
2. Analyse macro and microeconomic concepts by evaluating real-world scenarios to make informed judgments and decisions. 
3. Interpret, analyse, and depict macro and microeconomic information in diagrams, tables, and graphs. 
4. Explain macro and microeconomic information, ideas, and analysis. 
5. Assess the nature and implications of macro and microeconomic assumptions, conclusions, and value judgments in economic analysis and policy.