Module Details

Module Code: BUSS H2705
Module Title: Managerial Economics
Title: Managerial Economics
Module Level:: 6
Credits:: 5
Module Coordinator: Janette Davies
Module Author:: Alison Hearne
Domains:  
Module Description: To introduce students to the role of micro-economics in supporting key managerial decision-making within the firm
 
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 To illustrate the role of micro-economics in supporting managerial decision-making
LO2 To analyse and explain key concepts in relation to managerial economics and the Models of the Firm.
LO3 To apply micro-economic analysis to management issues such as cost, demand analysis, risk assessment, production, profit maximization and industry structure.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.
5897 ECON H1704 Economics 1
Co-requisite Modules
No Co-requisite modules listed
Additional Requisite Information
No Co Requisites listed
 
Indicative Content
Managerial Objectives & Theories of Firm Behaviour
• Introduction to the economic principles of Management • Profit maximisation model • Sales revenue maximisation model • Growth maximisation model • Managerial Utility maximisation model • “Wealth” or Value maximisation model
Understanding Demand and Supply:
• Determinants of market demand • Constructing and statistical estimation of market demand functions and supply functions • Demand Analysis • Price Elasticity and Corporate Revenue
Market Structure
• Monopoly, Perfect Competition, Imperfect Competition • Competition Policy • Concept of Market Power • Profit theories and decisions under different market structures
Production and Cost Analysis
• The Production Function • Estimating Production Functions • From Production to Costs: The Law of Diminishing Returns • Nature and types of costs • Cost Estimation & Cost Functions • Marginal Cost in Decision Making • Opportunity Cost
Risk Analysis
Risk Analysis
Module Content & Assessment
Assessment Breakdown%
Continuous Assessment30.00%
End of Module Formal Examination70.00%

Assessments

Full Time

Continuous Assessment
Assessment Type Essay % of Total Mark 30
Timing n/a Learning Outcomes 2
Non-marked No
Assessment Description
Essay on the models of the firm and its application to real-life scenarios.
No Project
No Practical
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 70
Timing End-of-Semester Learning Outcomes 1,2,3
Non-marked No
Assessment Description
Final Exam
Reassessment Requirement
Exam Board
It is at the discretion of the Examination Board as to what the qualifying criteria are.

SETU Carlow Campus reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Workload Category Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Attendance at lecture, participation, in-class group work, assessment and examination preparation, supplementary reading 12 Weeks per Stage 3.00 36
Independent Learning Non Contact Understanding key theories and concepts, Assessment and examination preparation, supplementary reading 15 Weeks per Stage 5.93 89
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Workload Category Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Attendance at lecture, class participation, in-class group work 12 Weeks per Stage 1.50 18
Independent Learning Non Contact Understanding theories and key concepts, assessment and examination preparation, supplementary reading 15 Weeks per Stage 2.97 44.5
Total Weekly Contact Hours 1.50
 
Module Resources
Recommended Book Resources
  • Jeff Prince, Michael Baye. (2016), Managerial Economics & Business Strategy, 9th. McGraw-Hill Education, New York, p.576, [ISBN: 9781259290619].
This module does not have any article/paper resources
Other Resources
Discussion Note: