introductory lecture bus

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Business Economics

Module: CORP 2131

Module Tutor: Dr. Sonali Mukherjee



About the Module:

It will build upon and develop the

economic concepts introduced in level 1.



The module will seek answers to such

key questions as«

How can we explain what underlies consumer behaviour?

What factors affect consumer demand for goods andservices?

To what extent is a person¶s demand influenced bychanges in income or in the prices of competitivegoods?

How do firms organise themselves to meet consumer demands?



What factors influence a firms goals and behaviour?

What is the relationship between a firm¶s output, its cost

and profitability?

How do firms decide on their pricing strategy?

How can a firm influence the degree of competition inthe market place?

The module will seek answers to such

key questions as«



Teaching and Learning Strategies

There will be a series of weekly lectures

Eight tutorials in two blocks of four

Last two weeks will be used solely for reflection and revision.



Learning Outcomes

Appreciate and evaluate the operations of a firm through

an economics framework.

Consider the position of the firm within it¶s competitiveenvironment.

Analyse various pricing strategies available to the firm.

Appreciate the goals of firms and constraints upon those

goals.



Module Syllabus

Introduction and key economic concepts

Consumer and market demand

Supply, costs and profit

Firms¶ objectives and behaviour

Markets structures

Pricing in theory and practice



Tutorial Topics

You must prepare in advance for all

tutorials.

Attendance is essential to your

success on the module and will be

monitored.



Assessment

Assignment ± 50% weighting

Comprising 2 integrated elements, the first

20%, second 30%.



Assessment

Examination ± 50% weighting:

2-hour examination ±(i) answer 50 multiple choice questions ±(50% weighting)

(ii) answer one µessay¶ question from achoice of three ± (50% weighting)



Assessment

To pass the module, students mustobtain an overall weighted average of atleast 40% over the assignment and

examination.



Reassessment

You must have achieved less than 40% on either (or both) the assignment or examination.

To Resit you can retake either of the above whereyou achieved below 40%.



Blackboard (Bb)

You must submit your assignment via

Turnitin through the module Bb site.



The Assignment

This is an individual assignment. (You must

not work together with another student).

The assignment has a 50% weighting within

the overall assessment of the module.

The assignment is split into two integratedcomponents, the first with a 20% weighting,

the second 30%.



The two components of the overall assignment

will be completed, submitted and marked

separately.

The first component in the first term, the second

component in the second term.

Feedback on the first component will be of

assistance to your success on the second.

The Assignment



It is essential you appropriately

reference (via the Harvard System) all

information, ideas and facts of othersused to support, evidence and

illustrate your work.

The Assignment



Requirements of the Assignment:

You are a management consultant hired by a

firm.

They require you to present to the firm a five

page report;

Two pages maximum for the first componentand three pages maximum for the second

component.



Each page must by typed by using Arial,

Font size 12,

Using single line spacing,

Portrait with a top and bottom margins of 2.54 cm

Left and right margins of 3.17 cm (these are the Worddefaults).

Requirements of the Assignment:



In addition to the above page limit you may

also include:-

A title page for each component with your name,tutors name etc. No other information should beincluded on this title page.

An index page.

Additional page or pages for references andbibliography.

An appendix to include, if you should so wish, tables,diagrams or maps. They must have been referred toand cross referenced within the text.



Any work submitted in excess of

the above page limits will NOT

be read or marked.

Assignment



First component (20% overall module

assessment weighting)

You must keep to a two page maximum asdetailed above.

This first component must be handed in before4:00 pm on Monday, 17 November in week 8 .

You must also submit a copy via Turnitin by thisdeadline.



The Assignment«

Identify a firm you wish to analyse.

This firm could be in any sector of the economy, be of any size and operate regionally, nationally or

internationally.

It could be a large multinational or a small owner managed enterprise in manufacturing, servicing or primary production.

If investigating a large multinational company producinga range of products you might confine yourself to justone of their products in a specified market area, for example solely in the UK.



In this part of the assignment you should:

Analyse the position of your firm within your

defined market, including«

an analysis of estimates of market share,

the number and type of competitors etc.

any recent changes in market position & market

developments should be noted and analysed.



The Assignment«

When you submit your assignment,

complete and hand in with your assignment the«

µFirst Component - Feedback Sheet¶.



Allocation of marks:

80% of the marks will be awarded for your

analysis of the above.

20% for presentation. It is within the

presentation element that you might be

deducted marks for exceeding the word count

and/or poor referencing.



Word of Caution«

I n planning material for first component you

should consider the areas you will cover in the

second (as detailed below) so as to avoid

repetition of material between the twocomponents.

The firm who has commissioned the overall

report will see both components as a single

document



Second component (30% overall module

assessment weighting)

This component must be handed in

before 4:00 pm on-Monday, 23 February, in week 19.



YOU ARE NOW ASKED BY THE FIRM TO

EXTEND YOUR REPORT TO:

1. Identify the competitive structure of the

market in which the firm operates.

( I n identifying the appropriate structure, analyse

why and how your market is characteristic of

that structure).



2. Propose a strategy for the firm to improve their market

position and as a result anticipate the likely position of

the firm and the industry by the end of the year 2010.

( Avoid a µlist¶ of possible µaction points¶ and instead

provide and analyse a prioritised and integrated

strategy that could realistically be implemented by the

firm. I f the firm already has a known strategy, you

should comment on that strategy and either explainwhy you might agree with its appropriateness or else

propose an alternative or amended strategy).

YOU ARE NOW ASKED BY THE FIRM TO

EXTEND YOUR REPORT TO:



Allocation of marks:

40% of the marks will be awarded for your

analysis of the competitive structure.

40% for your future strategy and anticipated

position of the firm and industry by the end of

2010.

20% for presentation.



Second component

When you submit your assignment, also

complete and hand in the µSecond

Component - Feedback Sheet¶



Module Reading List«

Worthington, I. Britton, C. & Rees, A. (2005)E conomics For Business, 2nd E dition F.T. PrenticeHall

Mc Aleese, D. (2001), E conomics for Business 2ndEdition, FT Prentice Hall

Mulhearn, C. Vane, H. & Eden, J. (2001), E conomicsfor Business, Palgrave.

Hornby, W. Gammie, B & Wall, S. (2001), BusinessE conomics, 2nd Ed. FT. Prentice Hall.



All the Best!

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