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:2018/9
Module lecturers:
  • Luke Lindsay - Convenor
Module credit:15
ECTS value:

7.5

Pre-requisites:

BEE1035 (or an A level in Mathematics or equivalent), BEE2024

Co-requisites:

Cannot be taken with BEE3037. Module cannot be taken if student has previously studied BEE2025. 

Duration of module: Duration (weeks) - term 2:

11

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 ActivitiesGuided independent studyPlacement / study abroad
241260

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Lectures20
Tutorials4
Guided Independent Study126

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Practical Online Test1 online test1,2,3Written/Verbal
Group Presentations3 presentations in tutorials1,2,4,5,6Written/Verbal

Summative assessment (% of credit)

CourseworkWritten examsPractical exams
25705

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
Online tests254 online tests, one every two weeks1,2,3Online solutions, office hours
Group Presentation 51 presentation in tutorial1,3,4,5,6Verbal & written
Examination701.5 hours1,2,4,5,6Verbal & written
0

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Online tests, group presentation and exam100% Exam (1.5 hours)1-6August

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

14/03/2018

Last revision date

08/11/2018