Module manager: Stuart Mills
Email: S.Mills1@leeds.ac.uk
Taught: Semester 1 (Sep to Jan) View Timetable
Year running 2024/25
LUBS 5754M
This module is not approved as an Elective
This module aims to provide students with an understanding of the economic environments (sectoral, national and global) relevant to the strategic management of business enterprises and to enable students to understand and to use economic concepts applicable to strategic decision-making in business enterprises.
Learning Outcomes - Knowledge/Application
On completion of this module students will be able to:
- Explain in economic terms the nature and function of business enterprises in the market economy.
- Apply microeconomic analysis to the business objectives and strategic decision-making of firms in different competitive environments
- Show an appreciation of the economic principles applicable to the ethical and responsible management of business enterprise
- Analyse the factors in the wider macroeconomic and financial economic environment which affect business and show how these influence strategic choices
Learning Outcomes - Skills
On completion of this module students will be able to:
Transferable:
- Demonstrate ethical awareness and apply this in different contexts
Indicative content
Preliminary induction: (Not assessed) (a) The demand and supply model of markets (b) Graphical analysis of the firm: costs, revenues and profit
Main syllabus
1. Profit, value and the market environment: The profit goal, competition, market power, competitive advantage. Standard and non-standard pricing models.
2. Economics of competitive strategy: Game theory and interdependent decisions, models with prior commitments, models of product quality competition; resources and capabilities.
3. Corporate boundaries: Transaction cost and property rights theories of ‘make-or-buy’ and the control and ownership of strategic assets; diversification, innovation, alliances and joint ventures
4. Responsible business: Managers, shareholders and the agency problem; the implications for and influence of economics on management; market failures, regulation and the social responsibility of firms.
5. The macroeconomic environment: National output and the business cycle; money, banking, inflation and interest rates; the international environment, trade, foreign direct investment, global financial governance
| Delivery type | Number | Length hours | Student hours |
|---|---|---|---|
| Lecture | 15 | 2 | 30 |
| Seminar | 11 | 2 | 22 |
| Private study hours | 98 | ||
| Total Contact hours | 52 | ||
| Total hours (100hr per 10 credits) | 150 | ||
8h reading and preparation for induction sessions
3h reading per lecture
3h preparation per tutorial
24h formative assessments and final assessment preparation
Progress will be monitored by tutorial participations together with two opportunities for formative feedback on written coursework.
| Exam type | Exam duration | % of formal assessment |
|---|---|---|
| Online Time-Limited assessment | 48.0 Hrs Mins | 100 |
| Total percentage (Assessment Exams) | 100 | |
The resit for this module will be 100% by online examination.
The reading list is available from the Library website
Last updated: 10/10/2024
Errors, omissions, failed links etc should be notified to the Catalogue Team