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EC229: Economics of Strategy

  • Ilan Kremer

    Module Leader
12/15 CATS - Department of Economics

Principal Aims

12 CATS EC229-12 Economics of Strategy 15 CATS EC229-15 Economics of Strategy

Principal Learning Outcomes

12 CATS

Key Skills:...communicate knowledge and understanding of economics in written, spoken, graphical and in elementary mathematical forms. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Essays, Group Projects, Tutorial discussions and presentations. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

Subject knowledge and understanding:...understand key concepts in Economics, such as long run cost curves, human capital investment, yield curves, IS/LM, aggregate supply/aggregate demand models, imperfect competition. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, Reading, Exercise question sheets, Tutorial discussions, Essays, Group projects. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

Subject knowledge and understanding:...demonstrate knowledge of economic trends, institutions and policies, especially in the context of strategic decisions of businesses. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Essays, Group Projects, Tutorial discussions and presentations. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

Subject knowledge and understanding:...abstract and simplify basic economic problems through the application of simple theoretical models. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, Reading, Exercise question sheets, Tutorial discussions, Essays, Group projects. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

Key Skills:...present the output of their own work to an audience. Work effectively on team projects. The teaching and learning methods that enable students to achieve this learning outcome are: Group Projects, Tutorial discussions and presentations. Group Projects. The assessment methods that measure the achievement of this learning outcome are: Formative: Group Projects, Tutorial presentations.

Key Skills:...conduct individual and collaborative research into an Economic topic, using world wide web and library resources. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Essays, Group Projects. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

Subject-Specific/Professional Skills:...produce concise and analytical reports relating to economic problems and issues. The teaching and learning methods that enable students to achieve this learning outcome are: Essays, Group Projects, Tutorial presentations. The assessment methods that measure the achievement of this learning outcome are: Formative: Essays, Group Projects, Summative: Summer Examination.

Cognitive Skills:...analyse and formulate models for understanding and solving problems. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Essays, Group Projects, Tutorial discussions and presentations. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

Cognitive Skills:...analyse competing models and hypotheses in a critical way. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Essays, Group Projects. The assessment methods that measure the achievement of this learning outcome are: Formative: Essays, Group Projects, Summative: Summer Examination.

Subject-Specific/Professional Skills:...select and apply appropriate economic models and techniques to particular problems relating to business and industry. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, Reading, Exercise question sheets, Essays, Group Projects, Tutorial discussions and presentations. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

15 CATS

Subject-Specific/Professional Skills:...produce concise and analytical reports relating to economic problems and issues. The teaching and learning methods that enable students to achieve this learning outcome are: Essays, Group Projects, Tutorial presentations. The assessment methods that measure the achievement of this learning outcome are: Formative: Essays, Group Projects, Summative: Summer Examination.

Cognitive Skills:...analyse and formulate models for understanding and solving problems. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Essays, Group Projects, Tutorial discussions and presentations. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

Cognitive Skills:...analyse competing models and hypotheses in a critical way. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Essays, Group Projects. The assessment methods that measure the achievement of this learning outcome are: Formative: Essays, Group Projects, Summative: Summer Examination.

Subject-Specific/Professional Skills:...select and apply appropriate economic models and techniques to particular problems relating to business and industry. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, Reading, Exercise question sheets, Essays, Group Projects, Tutorial discussions and presentations. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

Subject knowledge and understanding:...demonstrate knowledge of economic trends, institutions and policies, especially in the context of strategic decisions of businesses. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Essays, Group Projects, Tutorial discussions and presentations. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

Subject knowledge and understanding:...abstract and simplify basic economic problems through the application of simple theoretical models. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, Reading, Exercise question sheets, Tutorial discussions, Essays, Group projects. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

Key Skills:...communicate knowledge and understanding of economics in written, spoken, graphical and in elementary mathematical forms. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Essays, Group Projects, Tutorial discussions and presentations. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

Key Skills:...present the output of their own work to an audience. Work effectively on team projects. The teaching and learning methods that enable students to achieve this learning outcome are: Group Projects, Tutorial discussions and presentations. Group Projects. The assessment methods that measure the achievement of this learning outcome are: Formative: Group Projects, Tutorial presentations.

Key Skills:...conduct individual and collaborative research into an Economic topic, using world wide web and library resources. The teaching and learning methods that enable students to achieve this learning outcome are: Exercise question sheets, Essays, Group Projects. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

Subject knowledge and understanding:...understand key concepts in Economics, such as long run cost curves, human capital investment, yield curves, IS/LM, aggregate supply/aggregate demand models, imperfect competition. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, Reading, Exercise question sheets, Tutorial discussions, Essays, Group projects. The assessment methods that measure the achievement of this learning outcome are: Formative: Exercise question sheet answers, Essays, Group Projects, Summative: Summer Examination.

Syllabus

12 CATS

The module will typically cover the following topics:

• Business economic approaches to business performance and strategy; Internal economics of firms.

• Costs in long run.

• Investment in physical and human capital. Intertemporal decisions; Firms and consumers in the market place.

• Indifference curve analysis of product choice and savings.

• Imperfect information; Exposure and macroeconomy recap of economics for business; Interest rates and financial markets; Understanding aggregate demand and aggregate supply.

• Price levels, inflation and unemployment. The importance of expectations; Exchange rates, exchange rate regimes fixed and floating.

• Optimum currency areas; Current macro issues e.g. oil prices, global imbalances; The long run.

• Illustrating how and exploring why GDP growth rates differ across countries and through time; Imperfect product markets.

• Differentiation, monopolistic competition and monopoly, barriers to entry; Strategic rivalry.

• Oligopoly, game theory, entry deterrence; Growth strategies.

• Horizontal and vertical growth, diversification; Governance and regulation.

• Market failure and government failure; Imperfect labour markets.

• The economics of trades unions; Summary of the economic approach to strategy.

15 CATS

The module will typically cover the following topics:

• Business economic approaches to business performance and strategy; Internal economics of firms.

• Costs in long run.

• Investment in physical and human capital. Intertemporal decisions; Firms and consumers in the market place.

• Indifference curve analysis of product choice and savings.

• Imperfect information; Exposure and macroeconomy recap of economics for business; Interest rates and financial

markets; Understanding aggregate demand and aggregate supply.

• Price levels, inflation and unemployment. The importance of expectations; Exchange rates, exchange rate regimes fixed and floating.

• Optimum currency areas; Current macro issues e.g. oil prices, global imbalances; The long run.

Illustrating how and exploring why GDP growth rates differ across countries and through time; Imperfect product markets.

• Differentiation, monopolistic competition and monopoly, barriers to entry; Strategic rivalry.

• Oligopoly, game theory, entry deterrence; Growth strategies.

• Horizontal and vertical growth, diversification; Governance and regulation.

• Market failure and government failure; Imperfect labour markets.

• The economics of trades unions; Summary of the economic approach to strategy.

Context

Core Module
N140 - Year 2, NN37 - Year 2
Optional Module
MN31 - Year 3
Pre or Co-requisites
Modules: EC131-15
Part-year Availability for Visiting Students
12 CATS - Not available on a part-year basis 15 CATS - Available in the Spring term only (1 x assignment 12 CATS) and in the Spring and Summer terms together (1 x assignment and 1 exam 15 CATS)

Assessment

Assessment Method
2 hour exam (summer) (100%)
Coursework Details
2 hour exam (summer) (100%) - Eligible for self-certification: No CATS:
Exam Timing
N/A

Exam Rubric

12 CATS - 20/21 - New Exam Rubric

Time Allowed: 2 Hours

Read all instructions carefully- and read through the entire paper at least once before you start entering your answers.

There are TWO Sections in this paper. Section A is multiple choice. Answer ALL TEN questions in Section A (4 marks each). Answer BOTH questions in Section B (60 marks total).

Approved pocket calculators are allowed.

You should not submit answers to more than the required number of questions. If you do, we will mark the questions in the order that they appear, up to the required number of questions in each section.

15 CATS - 20/21 - New Exam Rubric

Time Allowed: 2 Hours

Read all instructions carefully- and read through the entire paper at least once before you start entering your answers.

There are TWO Sections in this paper. Section A is multiple choice. Answer ALL TEN questions in Section A (4 marks each). Answer BOTH questions in Section B (60 marks total).

Approved pocket calculators are allowed.

You should not submit answers to more than the required number of questions. If you do, we will mark the questions in the order that they appear, up to the required number of questions in each section.

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.

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