Module
Economics of Management Strategy
Module description
This module will focus on the behaviour of firms and the strategies they use. It will consider how different cost structures affect incentives, competition between firms and market outcomes; the different strategies firms can use to influence the market environment in order to increase profits; and how government regulators attempt to limit anti-competitive behaviour. It will draw on game theory and theories from industrial organisation and apply them to real world case studies.
Full module specification
| Module title: | Economics of Management Strategy |
|---|---|
| Module code: | BEE3063 |
| Module level: | 3 |
| Academic year: | 2023/4 |
| Module lecturers: |
|
| Module credit: | 15 |
| ECTS value: | 7.5 |
| Pre-requisites: | BEE1035 (or an A-Level in Mathematics or equivalent), BEE2038 |
| Co-requisites: | Cannot be taken with BEE2025 or BEE2043 |
| Duration of module: |
Duration (weeks) - term 1: 0 Duration (weeks) - term 2:11 Duration (weeks) - term 3:0 |
Module aims
The module aims to develop understanding of theoretical models and the ability to apply economic theory to real world business problems. Quantitative skills will be developed through a series of online assessments. Critical thinking and communication skills will be developed in tutorials through group work and student presentations.
ILO: Module-specific skills
- 1. Explain theoretical models of firm behavior and market organisation
- 2. Use quantitative methods to analyse firm behavior
- 3. Formulate strategies for firms to follow
ILO: Discipline-specific skills
- 4. Apply economic theory in case studies
- 5. Evaluate the insights alternative theoretical models offer in case studies
ILO: Personal and key skills
- 6. Demonstrate problem solving skills
- 7. Demonstrate critical thinking and communication skills
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 24 | 126 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Lectures | 20 | |
| Tutorials | 4 | |
| Guided Independent Study | 126 |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Practical Online Test | 1 online test | 1,2,3 | Written/Verbal |
| Presentations | 4 presentations in tutorials | 1,2,4,5,6 | Written/Verbal |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 25 | 75 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Online tests | 20 | 4 online tests, one every two weeks | 2,3 | Online solutions, office hours |
| Presentation | 5 | 1 presentation in tutorial | 1, 2, 3, 4, 5, 6 | Verbal/written |
| Examination | 75 | 1.5 hours | 1, 2, 3, 4, 5, 6 | Verbal/written |
| 0 | ||||
| 0 | ||||
| 0 |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Online tests | Online test (20%)* | 2, 3 | Aug/Sept re-assessment period |
| Presentation | Presentation (5%) | 1, 2, 3, 4, 5, 6 | Aug/Sept re-assessment period |
| May Exam | August Exam (75%) 1.5 hours | 1, 2, 3, 4, 5, 6 | Aug/Sept re-assessment period |
Re-assessment notes
*Deferral of an individual online test may result in an average being taken of tests that have been taken
Syllabus plan
Selected topics in industrial organisation will be covered. Material will mostly be drawn from chapters in Carlton & Perloff as well as some other sources. The main topics covered will be as follows:
- Costs (e.g. cost minimisation, different optimisation techniques)
- Market Structure (e.g. different types of competition, product differentiation)
- Strategies and conduct (e.g. price discrimination, bundling, entry deterrence)
- Information and advertising
- Dynamic models (e.g. selling durable goods, research and development)
Indicative learning resources - Basic reading
Basic reading: Carlton, D. W. and Perloff, J. M. (2015) Modern Industrial Organization (4th Global Edition), Pearson
Module has an active ELE page?
Yes
Origin date
15/02/2018
Last revision date
10/03/2023