Business Economics
| Module Convenor: Robert Hoffmann |
| Module Content: In the mixed economy, society's productive resources are allocated by a mixture of planning (government and firms) and decentralised decision making (individuals and markets). The module provides an introduction to the economic analysis of resource allocation at the level of individual consumers, firms, markets and the overall economy to show how these alternative economic principles can be used to promote the optimal allocation of resources for society as a whole. |
| Module Aims: The economic theory of business provides a range of models and concepts, both at the micro and macro level, for the analysis of business activity to generate key insights into the operation of the market economy. Familiarity with the economic way of thinking about business and the economist's toolkit of principles and models is indispensable for today's successful business practitioner. The aim of the module is to introduce economic theory applicable to business and to enable participants independently to apply the theory to practical issues. |
| Module Assessment: Examination (2 hours) (60%); Individual Project (2000 words) (40%) |
