FIN41290 Business Economics

Academic Year 2020/2021

This Module is designed to provide students with an overview of the economic environment in which firms operate and in which policymakers make decisions.

The Module will consider two aspects of economics – Micro-Economics and Macro-Economics.

The micro-economic environment, examines the economic forces that impact on business performance. It will explain the forces of supply and demand that impact on firms and provide an understanding of the market structure in which a firm operates and the implications of this. Attention will be given to the theoretical frameworks underpinning business operations and how they interact with the customer base.

The module will also examine the macro-economic environment. This will explain the role of policymakers, the tools of policy making, and the key targets that policymakers are seeking to achieve.



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Curricular information is subject to change

Learning Outcomes:

On completing this module, you will be able to:

1. Understand and describe the key features and characteristics of the broad economic and financial environment.

2. Demonstrate an understanding of the theoretical frameworks within which policymakers operate and within which consumers and businesses operate.

3. Understand the role of policy makers and how they operate and what they seek to achieve.

4. Understand current developments against relevant theoretical frameworks.

5. Relate economic theory to the real world of business.

6. Read and understand the financial and economic press.

Indicative Module Content:

1. Update on current global economic events.
2. Introduction to Economics – Relationship between Business and Economics – Introduction to Policy Making – Nature of Firms.
3. Business & Markets – Demand & Supply; Concept of Elasticity; Dealing with Risk & Uncertainty.
4. Consumer Behaviour; Economics of Advertising & Marketing.
5. Background to Supply; Costs, Revenue & Profit Maximisation.
6. Alternative Market Structures – Perfect Competition, Monopoly, Imperfect Competition.
7. Macro-Economic Environment: Growth, Unemployment, Inflation.
8. Macro-Economic Policy.
9. Review & Conclusions.

Student Effort Type Hours
Lectures

24

Small Group

1

Autonomous Student Learning

101

Total

126

Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.
 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Assignment: Group assignment Varies over the Trimester n/a Graded No

40

Assignment: Individual Assignment Varies over the Trimester n/a Graded No

60


Carry forward of passed components
Yes
 
Resit In Terminal Exam
Spring No
Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Feedback for the individual assignment and the group assignment will be provided post assessment.

Name Role
Ms Aoife Mulqueen Lecturer / Co-Lecturer
Autumn
       
Lecture Offering 1 Week(s) - 0, 2, 3, 4, 6, 7, 8, 9, 10, 11, 12 Fri 09:00 - 10:20 Blended
Lecture Offering 1 Week(s) - 1 Fri 09:00 - 10:20 Blended
Autumn
       

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