Skip to main content

Module

ACC2002 : Managerial and Business Economics

  • Offered for Year: 2020/21
  • Module Leader(s): Professor Simon Hussain
  • Lecturer: Dr Jose Liu
  • Other Staff: Dr Deeya Sewraj
  • Owning School: Newcastle University Business School
  • Teaching Location: Newcastle City Campus
Semesters
Semester 1 Credit Value: 10
Semester 2 Credit Value: 10
ECTS Credits: 10.0

Aims

To introduce students to economic issues and decision-making tools, relating to major topics like demand analysis and estimation, production and cost functions, and decision making with differing market structures.

Outline Of Syllabus

OPTIMISATION: A BRIEF REVIEW

CONSUMPTION & DEMAND
•       Axioms of traditional consumer theory
• Quantitative demand analysis
•       Indifference curves, consumption decisions and demand

PRODUCTION, COSTS & SUPPLY
•       Economic analysis of production
•       Cost functions (traditional and modern)
• The organization of the firm

MARKET STRUCTURE & PERFORMANCE OUTCOMES
•       Monopoly, price discrimination and welfare
•       Monopolistic competition
•       Models of Oligopoly: Cournot; Stackelberg; The kinked demand curve
• Game theory
     
MARKET STRUCTURE, FIRM STRATEGY & PERFORMANCE
•       Empirical evidence on SCP paradigm and concentration - profitability
•       Resource based view of the Firm
•       Persistance of profit
     
ANALYSIS OF FIRM STRATEGY
•       Product differentiation
•       Advertising
•       Barriers to entry

THEORIES OF THE FIRM
•       Neoclassical
•       Behavioural
•       Transaction-costs perspectives

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion1164:00164:00This includes preparation for seminars, individual project and Semester 2 exams.
Scheduled Learning And Teaching ActivitiesLecture181:0018:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching61:006:00Seminars (three in S1 and three in S2)
Structured Guided LearningStructured research and reading activities91:009:00N/A
Scheduled Learning And Teaching ActivitiesDissertation/project related supervision11:001:00Full group project feedback session (S2)
Scheduled Learning And Teaching ActivitiesModule talk11:001:00Full group end of module reflection (S2)
Scheduled Learning And Teaching ActivitiesModule talk11:001:00Full-group module overview session (start of S1)
Total200:00
Jointly Taught With
Code Title
ACC2063Managerial and Business Economics (Study Abroad S1)
Teaching Rationale And Relationship

Formal lectures are used to explain the issues, and to introduce concepts and techniques. Seminar sessions are held throughout the year, designed to be both explanatory and interactive and offering the opportunity to explore issues raised in lectures. Students have the opportunity to develop and practise key skills in these sessions. Students are able to judge their progress in the module through these sessions.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Exams
Description Length Semester When Set Percentage Comment
Written Examination1202A75N/A
Exam Pairings
Module Code Module Title Semester Comment
LAC2002Managerial and Business Economics2N/A
Other Assessment
Description Semester When Set Percentage Comment
Report1A251200 word report
Formative Assessments
Description Semester When Set Comment
Prob solv exercises1MSeminar questions provided
Prob solv exercises2MSeminar questions provided
Assessment Rationale And Relationship

Formal examination tests the students' intended knowledge outcomes and their ability to write about specific models/issues and solve numerical problems. The 1200 word report provides an opportunity for students to demonstrate their business knowledge and written communication (report writing) skills.

Reading Lists

Timetable