Module Details
Module Code: |
BUSS H2705 |
Module Title:
|
Managerial Economics
|
Title:
|
Managerial Economics
|
Module Level:: |
6 |
Module Coordinator: |
Janette Davies
|
Module Author:: |
Alison Hearne
|
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 Assessment | 30.00% |
End of Module Formal Examination | 70.00% |
AssessmentsFull Time
End of Module Formal Examination |
|
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 |
---|
-
Irish Exporter’s Association,
-
Transparency International,
-
Enterprise Ireland,
-
Industrial Development Authority,
-
OECD,
-
World Trade Organisation,
-
World Bank,
-
Economist,
-
Economic and Social Research Institute,
|
|