NBS8508 : Market Analysis (Inactive)
- Inactive for Year: 2019/20
- Module Leader(s): Dr Ivan Weir
- Owning School: Newcastle University Business School
- Teaching Location: Newcastle City Campus
|Semester 1 Credit Value:||10|
• To provide students with an overview of the role of economics in the analysis of international markets.
This module teaches students to recognize that strategic competition is a fundamental factor in international business sectors. It affects the viable financing structure, governance structure, as well as risk and survival of firms. Through the study of contemporary theory as well as empirical applications, students learn about the choices firms make in their everyday business practice. The firms need to decide on their prices, products, innovation, and advertising strategies. They also need to decide which markets to enter or exit and how to prevent other competitors in the global market from entering their local markets. Furthermore, they need to decide whether to act alone or to integrate with other firms. The above choices of firms have far reaching consequences both for firms as well as for the society in which they operate. Therefore, the module also considers the role of governments and their regulation activity and the way in which they affect the strategic decision making of firms. The understanding of the way markets work is indispensable knowledge for any aspiring marketing specialist.
Outline Of Syllabus
1. Principles of Economics: demand, supply, market equilibrium, efficiency and surplus.
2. Market structure: the poles of market performance – perfect competition versus monopoly, measuring market structure, measurement problems - what is a market?, costs and other determinants of market structure, measuring market power.
3. Price Discrimination: first-, second-, and third-degree price discrimination.
4. Oligopoly and Strategic Interaction: Nash Equilibrium as a solution concept, static
models of oligopoly, dynamic games and credibility of threats.
5. Anticompetitive Strategies: price fixing and the role of antitrust.
6. Advertising and Information: advertising as consumer information, persuasive advertising, advertising as signaling.
7. Research and Development: market structure and the incentive to innovate, R&D cooperation between firms, patents and patent policy, innovation versus imitation.
8. Contractual Relations Between Firms: horizontal mergers, vertical mergers and vertical integration, conglomerate mergers and diversification of assets.
|Guided Independent Study||Assessment preparation and completion||1||26:00||26:00||N/A|
|Scheduled Learning And Teaching Activities||Lecture||8||2:00||16:00||N/A|
|Guided Independent Study||Directed research and reading||1||25:00||25:00||N/A|
|Guided Independent Study||Independent study||1||33:00||33:00||N/A|
Teaching Rationale And Relationship
Lectures convey the key economic theories that are relevant to international marketers; discussions that take place in class encourage students to relate economic concepts to industries of their interest.
The format of resits will be determined by the Board of Examiners
|Module Code||Module Title||Semester||Comment|
|1||London equivalent module|
Assessment Rationale And Relationship
The end-of-module written examination tests individual ability to interpret data and economic concepts relating to international markets and industries of their interest.