LCBB5003 Management Economics | My Assignment Tutor

LCBB5003 Management Economics October 2018Page 1 of 4UNIVERSITY OF WALES: TRINITY SAINT DAVIDPRIFYSGOL CYMRU: Y DRINDOD DEWI SANTSchool of BusinessLondon CampusManagement EconomicsLCBB5003LCBB5003 Management Economics October 2018Page 2 of 4MODULE CODE: LCBB5003TITLE: Management EconomicsDATED: 13/06/2018LEVEL: 5CREDITS: 20JACS CODE: L100AIM(S) To enable students to analyse the internal and external economic forcesacting on management decision making.LEARNING OUTCOMESUpon the successful completion of this module, the student should be able to: critically evaluate economic data as a guide to policy making, within aninternational, national and organisational context; apply a number of different economic concepts (supply and demand, priceelasticity, cost analysis) with respect to managerial decision-making inorganisations; analyse the impact of government policy on markets, and its effect onmanagerial decisions.INDICATIVE CONTENT An analysis of market supply, demand, price formation, and elasticities; theapplication of such theory to managerial decision-making. An analysis of business costs, in both short run and long run, and their part indecisions on resource allocation. An assessment of the impact on the economy, and the economics ofdeveloping policy, on sustainability, enterprise, social responsibility, andglobal trends in management decision-making. A critical evaluation of the main market structures (perfect market, monopoly,imperfect market and oligopoly), competition and cooperation models, and ananalysis of the significance of each in resource allocation. An analysis of government influence on markets, and its effect on managerialdecisions and the international business environment.LCBB5003 Management Economics October 2018Page 3 of 4 The role of the state versus the role of markets: public services andprivatisation; externalities and environmental costs; the impact of governmentpolicy; relevant legal framework, including – competition, mergers, consumerprotection, and employment policies.LEARNING AND TEACHING STRATEGYThe study time for the module is divided as follows: Activity typeHoursPercentageScheduled learning5025%Independent learning15075%Placement learning00%TOTAL200100% ASSESSMENTAssessment Component 1 – Coursework Mode of assessmentVolumeWeightingEssay2500 words50% Assessment Component 2 – Coursework Mode of assessmentVolumeWeightingEssay2500 words50% Assessment Summary Activity typePercentageWritten exam0%Coursework100%Practical0%TOTAL100% LCBB5003 Management Economics October 2018Page 4 of 4READING LIST Module CodeLCBB5003Module TitleManagement EconomicsClassificationReading List entryElectronic*EssentialSamuelson, W., Marks, S., (2010) ManagerialEconomics, Study Guide, London, John Wiley & Sons☐EssentialSloman, J., Hinde, K., Garrat (2013) Economics forBusiness, Harlow, Pearson☐EssentialSloman, J., Jones, E., (2011): Economics and theBusiness Environment, Edinburgh, Prentice Hall☐FurtherGriffiths, A., Stuart, W., (2011) Economics for Businessand Management 3rd Edition, Prentice Hall☐FurtherKeat, P., Young, P., (2005) Managerial EconomicsEconomic Tools for Today’s Decision Makers, 5th Edition.☐FurtherLevitt, S., Dubner, S., (2010): Freakonomics: A RogueEconomist Explores the Hidden Side of Everything,London, Penguin☐FurtherBaye, M. (2013): Managerial Economics & BusinessStrategy, London, FT/Prentice Hall☐

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