introductory lecture bus
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8/8/2019 Introductory Lecture Bus
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Business Economics
Module: CORP 2131
Module Tutor: Dr. Sonali Mukherjee
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About the Module:
It will build upon and develop the
economic concepts introduced in level 1.
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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?
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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«
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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.
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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.
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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
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Tutorial Topics
You must prepare in advance for all
tutorials.
Attendance is essential to your
success on the module and will be
monitored.
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Assessment
Assignment ± 50% weighting
Comprising 2 integrated elements, the first
20%, second 30%.
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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)
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Assessment
To pass the module, students mustobtain an overall weighted average of atleast 40% over the assignment and
examination.
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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%.
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Blackboard (Bb)
You must submit your assignment via
Turnitin through the module Bb site.
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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%.
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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
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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
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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.
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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:
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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.
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Any work submitted in excess of
the above page limits will NOT
be read or marked.
Assignment
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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.
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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.
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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.
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The Assignment«
When you submit your assignment,
complete and hand in with your assignment the«
µFirst Component - Feedback Sheet¶.
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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.
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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
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Second component (30% overall module
assessment weighting)
This component must be handed in
before 4:00 pm on-Monday, 23 February, in week 19.
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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).
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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:
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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.
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Second component
When you submit your assignment, also
complete and hand in the µSecond
Component - Feedback Sheet¶
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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.
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