Module Details for the Academic Year 2018/2019
FIN41290 Business Economics
The Module is designed to introduce MBA participants to the various elements of game theory with the goal of providing the tools to enhance their abilities for strategic and analytical reasoning in a company setting. One of the more important developments in the economics of management is the micro-foundations of business decisions within a company. Business decisions to do with costs, pricing, and reaction to competitors can be better understood within the context of the economics of strategy. The Module is designed to provide key concepts and tools for handling, in particular, the issues of joint costs and business revenues, strategic decision making and capacity constraints, strategic behaviour in price and non-price games. The Module will blend theory with practice by applying principles of economics and elements of non-cooperative game theory. Tools of analysis will be applied in real time to FTSE 100, Fortune 100 and S&P 500 companies. The Module is especially suitable for MBA participants who are looking for analytical tools with an everyday application. The value added is the provision of an alternative method of reasoning and understanding management decision making across a range of different issues. In particular, the Module focuses on strategic decision making and competitor interaction in a market setting, working from many of the game theoretic premises that underpin the microeconomics of individual behaviour.
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Introduction to the economics of strategy and game theory.
Develop a familiarity with economic concepts as applied to business decision-making
Understand the microeconomics of costs and pricing.
Analyse the firm as a vertically integrated modern organisation.
Analysis of the economic and strategic drivers of rival competitive behaviour.
Understand rival pricing and non-pricing behaviour and how best to react.
Ability to apply modern game theory concepts to shape company strategy.
|Autonomous Student Learning
|Examination: Final examination
|2 hour End of Semester Exam
|Project: Class group project
|Varies over the Semester
This module is not passable by compensation
If you fail this module you may repeat, resit or substitute where permissible
Module Requisites and Incompatibles
Curricular information is subject to change