Business Economics and Management Science (P01737)

? Credit Points : 10 ? SCQF Level : 11 ? Acronym : MSE-P-BEMS

The objectives of the course are to give students both knowledge and understanding of selected key concepts in business economics and management science and the knowledge to understand when these concepts may be useful to make decisions. The basic skills to implement these techniques will also be developed.

The knowledge and skills developed in this course are essential for an understanding of very important factors which impinge substantially on business decisions and for making decisions to optimise profit when faced with particular constraints: the manager's basic problem. This knowledge and these skills are not taught elsewhere in the course and complement other courses. They will provide deeper understanding of some of the concepts discussed elsewhere and will develop particular ways of thinking and of analysing decisions which will complement those covered in other courses.

Entry Requirements

? This course is not available to visting students.

? Costs : purchase of books

Subject Areas

Home subject area

Common Courses (Management School and Economics), (Management School and Economics, Schedule H)

Delivery Information

? Normal year taken : Postgraduate

? Delivery Period : Semester 1 (Blocks 1-2)

? Contact Teaching Time : 2 hour(s) per week for 10 weeks

All of the following classes

Type	Day	Start	End	Area
Lecture	Monday	09:00	10:50	Central

Summary of Intended Learning Outcomes

After completing the course the knowledge and understanding gained by the student will enable him/her to explain and discuss certain key concepts in the economics of strategy including

- Explain and discuss the determinants of demand and costs of an enterprise
- Explain and discuss the roles of competition and entry in determining prices
- Explain and discuss the factors to be considered when deciding on the vertical boundaries of an enterprise.

The course will also

- Provide an understanding of the role of model building methods in management decision making
- Explain some of the different types of management decision models and techniques available for solving these models
- Give practical experience in applying these methods to representative problems.

After completing the course the cognitive and analytical skills gained will enable a student to analyse and evaluate decision situations and to apply relevant economic concepts and management science methods when faced with the need to make a decision when competing against other firms.

After completing the course the student will have gained confidence in understanding economic reasoning and in applying economic decision making concepts and will be aware of situations in which the use of the management science approach can be appropriate.

Assessment Information

The course will be assessed by one assignment and a final exam. For the assignment the student will select one from an essay or a small project.

The overall mark for the course (M) will be calculated as: M = 0.3.A + 0.7.E
Where A is the assignment mark (out of 100) and E is the exam mark (out of 100).

The assignment will be handed in week 7 of the course.