Course Manual -Basics of Economics (2012)

8/13/2019 Course Manual -Basics of Economics (2012)

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IILM Institute for Higher Education

Module Manual : Basics of Economics

Academic Year : PGP/ 2012-2014


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1. Introduction to the Module and Module Objective

Executives, consultants, investment bankers and man ot!er "ractitioners make dail economicdecisions t!at ex"licitl or im"licitl follo# economic la#s$ %Basics of Economics& 'ive anintroduction to t!e economics of business decision-makin'$ (t is an introductor course in t!ea""lication of microeconomics to business decision makin'$)ana'ers #ould be confronted #it! situations #!ere t!e !ave to decide u"on im"ortant business*uestions like - +o# muc! to "roduce +o# to allocate t!e resources in an o"timal manner !at"rice to c!ar'e in order to maximi.e "rofits etc$ !is course "rovides t!e anal tical skills andeconomic insi'!ts to anal .e suc! mana'erial "roblems$ (t covers t!e broad "rinci"les of mar'inalanal sis - from cost anal sis to "ricin'$ !ese "rinci"les s!a"e mana'erial decisions in all ot!erfunctional areas of business: accountin', finance, marketin', and strate' $

B t!e end of t!is course, students #ill !ave learned !o# to do at least four t!in's:

1$ (dentif t!e cate'ories of costs t!at are relevant for critical business decisions suc! as"ricin', market entr or exit, and 'ro#t! or do#nsi.in' of business lines or "ro ects$

2$ onstruct fact-based, lo'icall -'rounded anal ses of com"etition in !i'!l fra'mentedmarkets t!at #ill allo# t!em to make educated con ectures about "rices and future "rofitabilit ,and 'uide ca"acit ex"ansion or disinvestments in t!ese markets$

$ 3se demand and cost fundamentals to determine "rofit-maximi.in' "ricin' decisions,evaluate t!e "rofitabilit of current "ricin' "olicies, and use "ricin' strate' to en!ance valuecreation$

4$ (dentif "roblems arisin' due to external factors and market solutions for externalities$


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2. Introduction to the Module Team Members

2.1 Area ChairName : Mr. Abhijit Mukho adh!a!"mail I# : abhijit.mukho adh!a!$iilm.eduCabin %ocation : &'(ebsite )*% : +++.iilm.edu

2.2 Module %eader, - M -reater Noida cam usName : Mr. *ajkishan Nair "mail I# : rajkishan.nair$iilm/sm.ac.in(ebsite )*% : +++.iilm.edu

2.0 Module %eader, %* --N cam us

Name : Ms. #ee a haskaran3hone Number : 411, 54605056"mail I# : dee a.bhaskaran$iilm.eduCabin %ocation : 227(ebsite )*% : +++.iilm.edu

2.0 Module #eliver! Team

i8 Ms. #ee a haskaran

!e been #it! ((5) for over t#o ears and currentl teac!es PG6) students courses in)icroeconomics and )acroeconomics$ +er areas of interest are )ana'erial Economics,)acroeconomics, (nternational Economics and 6evelo"mental Economics$ !e also !as over 7"lus ears of researc! ex"erience in t!e field of academic and business researc! and "ublicationsto !er credit$ !e com"leted )asters in Economics Pro'ramme from 6el!i c!ool of Economics,6el!i 3niversit #it! s"ecialisation in )acro-economics, and !as an executive )B8 from 8ll (ndia)ana'ement 8ssociation, #it! s"ecialisation in 9inance$

ii8 Ms. he/orika %alchandani)s$ !e'orika !as more t!an 11 ears of ex"erience in t!e area of academics, trainin', researc!and content develo"ment$ !e !as s!o#n keen interest in t!e area of trainin' and researc! and!as trained more t!an 7000 students, sc!oolteac!ers and "rofessionals across t!e countr $ !e!as been associated #it! institutes like B E, +eromindmine, and 889) etc$ +er area of interestis in (nternational finance, (nternational stock markets and cor"orate finance$ !e !as aut!oredbooks in t!e field of stock markets and cor"orate finance$ 8s far as educational *ualifications areconcerned, s!e is )$ om, )B8 9inance; and "ursuin' P!6 from (ndian (nstitution for forei'ntrade$

iii8 Ms eema h ekawat)s$ eema !ek!a#at is #orkin' as 9acult 8ssociate-9inance$ !e !as recentl oined t!einstitution and is currentl #orkin' #it! finance and economics de"artment in ((5)$ 8s far as !eracademic *ualifications are concerned, s!e !as done !er 10


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0. Module 3re,*e9uisites

(n order to "ursue t!is course, students are re*uired to !ave an abilit of readin'/inte"retin' 'ra"!s

and s!ould !ave understandin' of ke economic terms$ !e s!ould !ave vie#ed t!e lectures t!at!ave been made available t!rou'! t!e follo#in' video links, before t!e start of t!e course:

9undamentals of 6emand @ u""l !tt"://###$ outube$com/#atc! vA =2277 E!vk !tt"://###$ outube$com/#atc! vA*d?*8 oCv9# !tt"://###$ outube$com/#atc! vA?Daoc2>2l!(

9undamentals of ost @ !a"e of ost urves !tt"://###$ outube$com/#atc! vA4fC dF .E !tt"://###$ outube$com/#atc! vA >5 P>frH (

9undamentals of =evenue @ !a"es of 9unctions !tt"://###$ outube$com/#atc! vA t8!IJF.? E@featureArelmfu

Glossar of He Economic terms !tt"://###$di'italeconomist$or'/'lossar Jmicro$!tml

8 link for t!e online *ui. #ill be made available t!e students, #!ic! is to be accessed for verf in'

t!e understandin' of above mentioned economic conce"ts$
http://www.youtube.com/watch?v=ZR2255CEhvkhttp://www.youtube.com/watch?v=qdOqAWo8vFwhttp://www.youtube.com/watch?v=OYaoc2N2lhIhttp://www.youtube.com/watch?v=4f89dVC7CzEhttp://www.youtube.com/watch?v=jNL9PNfrKZIhttp://www.youtube.com/watch?v=ZtAhQ_VzOSE&feature=relmfuhttp://www.digitaleconomist.org/glossary_micro.htmlhttp://www.digitaleconomist.org/glossary_micro.htmlhttp://www.youtube.com/watch?v=qdOqAWo8vFwhttp://www.youtube.com/watch?v=OYaoc2N2lhIhttp://www.youtube.com/watch?v=4f89dVC7CzEhttp://www.youtube.com/watch?v=jNL9PNfrKZIhttp://www.youtube.com/watch?v=ZtAhQ_VzOSE&feature=relmfuhttp://www.digitaleconomist.org/glossary_micro.htmlhttp://www.youtube.com/watch?v=ZR2255CEhvk


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5. Module Overvie+

ession No. To ics %ecture eminar

Individual #ecision Makin/ ; )nderstandin/ Costsession 1 ost in Business Production K ( 5ecture

ession 2 ost in Business Production K (( 5ecture

ession 6ecision-)akin' for Business )ana'ers: !e Break Even 8nal sis

5ecture

ession 4 6ecision-)akin' for Business )ana'ers: !e Break Even 8nal sis continued

5ecture

Consumer #ecision Makin/ , )nderstandin/ #emand #!namics

ession 7 8ssessin' t!e (nfluence of Price and >on-"rice 9actors on6emand

5ecture

ession L +B ase tud K M8lusaf +illside "ro ectN 5ecture

ession 8""lication of Price Elasticit in Business 6ecisions 5ecture

ession C 8""lication of (ncome and ross- Price Elasticit inBusiness 6ecisions

5ecture

ession tanford ase tud - MGlobal offee radeN 5ecture

ession 10 tanford ase tud - MGlobal offee radeN ontinued 5ecture

ession 11 )aximisin' Profit vis-a-vi. ales K radeoffonsiderations

5ecture

ession 12 Problem olvin' et ( eminar 2continuous slots;

Market and usiness: An "conomic 3ers ective

ession 1 om"etitive Environment in t!e !ort =un: +o# Profitsare Earned - (

5ecture

ession 14 om"etitive Environment in t!e !ort =un - (( 5ecture

ession 17 om"etitive Environment in t!e 5on' =un 5ecture

Market 3o+er ; 3ricin/ and Mana/ement

ession 1L )arket Po#er and its Business (m"lications: (m"act onPricin' trate' K (

5ecture

ession 1 )arket Po#er and its Business (m"lications: (m"act onPricin' trate' K ((

5ecture

ession 1C Pricin' 6ecisions in e'mented )arkets: Price6iscrimination 6e'ree ( @ ((

5ecture

ession 1 Pricin' 6ecisions in e'mented )arkets: Price6iscrimination 6e'ree (((

5ecture

ession 20 +B ase tud on M !e 5ondon 2012 ?l m"ic 'amesN -

(

5ecture

ession 21 +B ase tud on M !e 5ondon 2012 ?l m"ic 'amesN -((

5ecture


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ession 22 Public Polic and 6ecision )akin' for )ana'ers 5ecture

ession2

ra" u" ession 5ecture 2 !rs;

ession24

Problem olvin' et (( eminar 2continuous slots;

&. Module *eadin/s

&.1 Main *eadin/ 8n electronic version of course "ack customised for t!e B?E course, desi'ned t!rou'! use of


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+arvard Business c!ool Publis!in' +B P; teac!in' materials containin' #eblinks forarticles,back'round notes, book c!a"ters and cases #ill be u"loaded on )oodle$ tudents arere*uired to use t!is as t!e ke reference$

&.2 Additional *e


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'. ession 3lan

To ic 1: Individual #ecision Makin/ ; )nderstandin/ Costs 3ro


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decide #!et!er to *uit or continue #it! t!e "roduction$ 8nd if t!e decide to continue, t!e next*uestion is - !o# man units to "roduce Before ex"enditures are incurred, mana'ers #ant to besure t!at t!e #ill 'et an ade*uate return on t!eir investment$ ?ne #a of assessin' t!is is bcalculatin' t!e breakeven "oint$ !is session introduces t!e conce"t of breakeven anal sis ands!o#s !o# it is used to aid decision-makin'$

3re,*eadin/ %ink: !tt"://###$ outube$com/#atc! vAar mFDD-8?0@featureArelated

*e9uired *eadin/ : +B back'round "a"er on M Marketing Analysis tool Kit: Break Even Analysis ,!omas teenbur'! and Oill 8ver , -710-0C0, 9eb 2010$

%earnin/ Outcome : o understand !o# muc! sales volume is re*uired b t!e firm to break evenor to be in a situation of no-"rofit no-loss$

'.5 , ession 5: #ecision,Makin/


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=%ecture8

!e aluminium industr !as suffered from lon' "eriods of de"ressed "rices and "rofitsinters"ersed #it! relativel s!ort-lived "rice and "rofit "eaks$ !e case investi'ates #! , t!is !asoccurred, focusin' on t!e decision 8lusaf must make on #!et!er to invest in a ma or ne# facilit int!e face of de"ressed aluminium "rices$ ourse#are "rovides cost data on all t!e facilities in t!eindustr to develo" a su""l curve$ (t also "rovides a su""l and demand model t!at allo#sstudents to investi'ate: t!e drivers of avera'e industr "rofitabilit and relative "rofitabilit ofindividual "la ers in itQ t!e im"act of c!an'es in demand over t!e economic c cle on t!e "rice ofmetal$

*e9uired *eadin/: Case stud!

%earnin/ Outcome: o introduce students to conce"ts of su""l and demand and s!o# !o#t!ese im"act strate'ic decisions$ tudents 'o be ond a sim"le financial anal sis of a ca"acitaddition decision to factor in t!e im"act t!e decision is likel to !ave on industr structure and"rofitabilit $

'.7 , ession 7: A lication o< "lasticit! in usiness #ecisions =%ecture I8

(nformation about "rice, cross-"rice and income elasticities is extremel useful to mana'ers ast!e contem"late "ricin' and "roduct launc! decisions, more so, as some of t!ese variables #!ic!influence demand are under t!e control of mana'ement, suc! as "rice, advertisin', "roduct *ualit ,and customer service$ !e also often use t!is tool to measure t!e effect of c!an'in' t!e "rice ofone "roduct t!e sell on t!e demand of ot!er related "roduct sold as it affects t!eir overallbusiness revenue and "rofitabilit $

3re,*eadin/ %ink: !tt"://###$ outube$com/#atc! vA)>iE+v#L '

*e9uired *eadin/: +B back'round note on M(nter"retation of Elasticit alculationN

Additional *eadin/ : 6ominick alvatore, Managerial Economics , ixt! Edition, ?3P $ !a"ter ,"" C -100

%earnin/ Outcome : 3nderstandin' t!e utilit of "rice elasticit in evaluatin' t!e feasibilit ofbusiness decisions$

'.B , ession B: A lication o< "lasticit! in usiness #ecisions =%ecture II8

(nformation about "rice, cross-"rice and income elasticities is extremel useful to mana'ers ast!e contem"late "ricin' and "roduct launc! decisions, more so, as some of t!ese variables #!ic!influence demand are under t!e control of mana'ement, suc! as "rice, advertisin', "roduct *ualit ,and customer service$ !e also often use t!is tool to measure t!e effect of c!an'in' t!e "rice ofone "roduct t!e sell on t!e demand of ot!er related "roduct sold as it affects t!eir overallbusiness revenue and "rofitabilit $

3re,*eadin/ %ink: !tt"://###$ outube$com/#atc! vA)>iE+v#L '

*e9uired *eadin/: +B back'round note on M(nter"retation of Elasticit alculationN

Additional *eadin/ : 6ominick alvatore, Managerial Economics , ixt! Edition, ?3P $ !a"ter ,

"" C -100%earnin/ Outcome : 3nderstandin' t!e utilit of income and cross-"rice elasticit in evaluatin' t!efeasibilit of business decisions$
http://www.youtube.com/watch?v=MNiEHvw6TTghttp://www.youtube.com/watch?v=MNiEHvw6TTghttp://www.youtube.com/watch?v=MNiEHvw6TTghttp://www.youtube.com/watch?v=MNiEHvw6TTg


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'.6 , ession 6 14: tan$ten'el;
http://www.youtube.com/watch?v=NAtbiV1I98w&feature=relatedhttp://www.youtube.com/watch?v=NAtbiV1I98w&feature=related


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Additional *eadin/ : 6ominick alvatore, Managerial Economics , ixt! Edition, ?3P !a"ter C"" 17- 22,

%earnin/ Outcome : 3nderstandin' t!e o"eration of a firm in t!e s!ort run in a com"etitiveenvironment and definin' t!e s!ut-do#n "oint of t!e firm in terms of variable or runnin' cost$

'.15 , ession 15: Com etitive environment in the short run: ?o+ ro8tbiF1( C#@featureArelated

*e9uired *eadin/ : +B BEP0 4, )ana'erial Economics: once"ts and Princi"les, +arvardBusiness Publis!in', 6i'ital !a"ters, !a"ter L, +B Business Ex"ert Press, b 6onald >$ten'el;

Additional *eadin/ : 6ominick alvatore, Managerial Economics , ixt! Edition, ?3P !a"ter C"" 17- 22

%earnin/ Outcome : 3nderstandin' t!e o"eration of a firm in t!e s!ort run in a com"etitiveenvironment and definin' t!e s!ut-do#n "oint of t!e firm in terms of variable or runnin' cost$

'.1& , ession 1&: Com etitive environment in the lon/ run =%ecture8

Profits of a com"etitive firm c!an'es si'nificantl in t!e lon' run and im"acts t!e attractiveness ofo"eration in t!e industr $ (t is im"erative for students as buddin' mana'ers to understand !o# t!e"roduct markets be!ave in lon' run$ !is lecture #ill focus on t!e industr and firm d namics in t!elon' run and related issues in "rofit-maximisation

*e9uired *eadin/ : +B BEP0 4, )ana'erial Economics: once"ts and Princi"les, +arvardBusiness Publis!in', 6i'ital !a"ters, !a"ter L, +B Business Ex"ert Press, b 6onald >$ten'el;

Additional *eadin/ : 6ominick alvatore, Managerial Economics , ixt! Edition, ?3P, !a"ter C"" 22- 24$

%earnin/ Outcome : 3nderstandin' t!e o"eration of a firm in t!e lon' run in a com"etitiveenvironment$

To ic 0 ; Market 3o+er ; 3ricin/ and Mana/ement

'.1' , ession 1': Market 3o+er and its business im lications: 3ricin/ 3olic! =%ecture I8

9irms #it! market "o#er mono"ol ; o"erate differentl from firms o"eratin' in com"etitiveenvironment$ (ndian cellular market is an exam"le of "erfect com"etition, #!ere no individualservice "rovider !as t!e "rice settin' "o#er$ ?n t!e ot!er !and, an internet service "rovider #it!ina 'ated communit !as an in!erent mono"ol "o#er because of "! sical entr barriers; and candefine t!e terms of service t!ou'! !is "o#er too is not unfettered;$ (t is essential for t!e studentsto !ave a fair understandin' of !o# market "o#er o"erates and !o# "ricin' and businessstrate'ies !ave to be devised under different market circumstances$ !is session #ill focus on t!e
http://www.youtube.com/watch?v=NAtbiV1I98w&feature=relatedhttp://www.youtube.com/watch?v=NAtbiV1I98w&feature=related


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#orkin' of markets !avin' market "o#er$ Farious caselets from (ndian business scenes suc! ast!e case of (ndian =ail#a s, #ell kno#n financial institutions suc! as 8xis Bank, Hotak )a!indraetc$ #ill be used to facilitate a dee"er understandin' of t!e conce"t$ *e9uired *eadin/ : 1$ BEP0 7, )ana'erial Economics: once"ts and Princi"les, +arvardBusiness Publis!in', 6i'ital !a"ters, !a"ter , +B Business Ex"ert Press, b 6onald >$ten'el;, 2$ +B back'round note on MPricin' and Public Polic N , - 4-02

Additional *eadin/s: 6ominick alvatore, Managerial Economics , ixt! Edition, ?3P, !a"ter C"" 24-4 C

%earnin/ Outcome : 3nderstandin' !o# "rice is determined and "rofits are maximi.ed b a firm inim"erfect com"etition$

'.17 , ession 17: Market 3o+er and its business im lications: 3ricin/ 3olic! =%ecture II8

*e9uired *eadin/ : 1$ BEP0 7, )ana'erial Economics: once"ts and Princi"les, +arvard

Business Publis!in', 6i'ital !a"ters, !a"ter , +B Business Ex"ert Press, b 6onald >$ten'el;, 2$ +B back'round note on MPricin' and Public Polic N , - 4-02

Additional *eadin/s: 6ominick alvatore, Managerial Economics , ixt! Edition, ?3P, !a"ter C"" 24-4 C

%earnin/ Outcome: o identif t!e factors t!at brin' about differences in "rofits, out"ut and "ricesof firms o"eratin' under com"etitive and im"erfect com"etition$

'.1B , ession 1B: 3ricin/ #ecisions in e/mented Markets: 3rice #iscrimination =%ecture 18

! is it t!at in t!e #orld cu" final, one s"ectator "aid =s$ 700/-, #!ile anot!er ended u" "a in'=s$7000/-$ (s t!e !i'!er "rice ustified b t!e additional amenities "rovided Price discrimination ist!e "ractice of c!ar'in' different set of "rices for different 'rou"s of "eo"le for t!e same "roductt!at are-not cost- ustified$ (n t!is session students #ill be 'iven an insi'!t on !o# a seller c!ar'esdifferent "rices to different consumers for similar 'oods and t!e factors t!at 'uide t!e "ricin'decisions$

3re,*eadin/ %ink: !tt"://###$ outube$com/#atc! vA4>>GP ' n '

*e9uired *eadin/ : +B - Back'round note on MPrice 6iscriminationN +B -1 1-107 , Oune1 ,1 7

Additional *eadin/ : 6ominick alvatore, Managerial Economics , ixt! Edition, ?3P$ !a"ter 11"" 4 L-4 C

%earnin/ Outcome: o understand in #!at conditions a firm can c!ar'e different "rices for t!esame "roduct from different consumers in order to maximise "rofit in different markets like!os"italit industr , airlines, and financial services$

'.16 , ession 16: 3ricin/ #ecisions in e/mented Markets: 3rice #iscrimination =%ecture II8

! is it t!at in t!e #orld cu" final, one s"ectator "aid =s$ 700/-, #!ile anot!er ended u" "a in'

=s$7000/-$ (s t!e !i'!er "rice ustified b t!e additional amenities "rovided Price discrimination ist!e "ractice of c!ar'in' different set of "rices for different 'rou"s of "eo"le for t!e same "roductt!at are-not cost- ustified$ (n t!is session students #ill be 'iven an insi'!t on !o# a seller c!ar'esdifferent "rices to different consumers for similar 'oods and t!e factors t!at 'uide t!e "ricin'
http://www.youtube.com/watch?v=4NNGP9gWnSghttp://www.youtube.com/watch?v=4NNGP9gWnSg


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15/18

3roblem et II: !is session #ill assess t!e understandin' of market structures, market"o#er,"rice discrimination and externalities covered t!rou'! t!e course$

7. #etails o< Assessment

Assessment

Method

(ei/hta/e in3ercenta/e

Problem sets a total of2;

Breaku" as follo#s: 1 10 marks; 1 10 marks;

lass Partici"ation 10marks;

En'a'ement, 6isci"line, lassroom

6iscussions @(nteractions

LL$L R

$ R

Total 144

7. Com onent 1: 3roblem ets =''.'7 G8

!ere are t!ree main to"ics in t!e module$ tudents #ill be assessed on understandin' of to"ics int!e form of ans#erin' t#o closed book "roblem sets$ !ese "roblem sets #ill com"rise of

a""lication based *uestions$ !e first set #ill test t!eir understandin' of t!e conce"ts of cost,break even and t!e understandin' of demand and su""l $ econd set #ill test t!eir understandin'of t!e #orkin' of firm in com"etitive market, im"erfect com"etition and "rice discrimination andexternalit $

(n eac! session of "roblem set com"risin' of 2!rs, 1 !our #ill be 'iven to students to solve"roblems #!ic! t!e #ill be solvin' individuall $ tudents s!ould #rite t!e ans#ers, makin' suret!e understand !o# to solve t!e "roblem ste" b ste"$ =emainin' 1 !our #ill be used to 'ivefeedback to students on t!eir submissions b t!e instructor in form of comments and discussions int!e classroom sessions$ olvin' t!e "roblem sets in t!is #a is im"ortant because t!e "rimarvalue of t!e "roblem sets is buildin' t!eir o#n understandin' and abilit to solve t!e "roblems$

om"letion of t!e "roblem sets is re*uired for t!e course and t!e "erformance on t!em #ill beconsidered in t!e final 'rades$ Problem sets are c!allen'in' and intended to move t!em be ondclass material$ (t #ill test students understandin' of t!e conce"ts and t!eir anal tical reasonin'


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and "roblem solvin' skills$

9eedback on student "erformance #ill be "rovided b t!e instructor in form of comments, #!enans#er scri"ts #ill be s!o#n to students$

Com onent 2: Class 3artici ation Interaction =00.00 G8

!is form of assessment #ill be continous in nature and used to test understandin' of conce"ts,recall, anal sis and critical t!inkin' amon' students$ !e case-based discussions and ot!er relatedclassroom interactions based on "re-reads/videos #ill maximise t!e o""ortunities available tostudents to "ractise, foster develo"ment of social skills and also im"rove t!eir a#areness of o#nlearnin' "rocesses$ Based on t!eir "erformance across t!e lectures, an avera'e score #ill beassi'ned to eac! student, #!ic! #ill serve as motivation for successful learnin'$ +ence, studentlearnin' #ill be furt!er im"roved #it! active "artici"ation$

B. Attendancetudents #ill be marked for t!eir attendance in t!e 2 lectures$ 8 minimum of L0R needs to bemaintained across lectures$ 8 s!ortfall in attendance #ill result in "enalt of 20R from t!e overallmarks$ tudents are advised to be "resent for bot! t!e "roblem solvin' seminars eac! seminaris for 2 !ours makin' it atotal of 4 !ours; to facilitate uniform recordin' of marks across allcom"onents$ >o re*uest for re-sc!edulin' of assessments #ill be entertained$ tudent&s absencefrom assessment #ill be onl considered in case of ur'ent medical emer'enc on a case b casebasis$ !e student needs to send across an formal intimation #it!in t#o da of medical leave tofacult via email and medical "resci"tion and bill to validate t!e absence s!ould be submitted$


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6. Assessment

6.1 ; Assessment Ma

!is table s!o#s main assessment met!ods #!ic! are used across module and its sta'es:

Methods o< Assessment

)odule

81 82 8 84 87

B?E

S

Notes

81: (ndividual test/ 8ssi'nment 82: Grou" 8ssi'nment/ Pro ect 8 : ?"en Book Examination 84: lose Book Examination 87: Grou" Presentation

6.2 , Teachin/ Ma

!is table s!o#s main deliver met!ods #!ic! are used across module and its sta'es:

)et!ods of 6eliver

)odule

1 2 4 7 L

B?E

S S S

Notes:

1: 5ectures

2: eminar/ utorials

: 5ive Pro ects @ Presentations

4: ase 6iscussion

7: Guest 5ectures/ (ndustrial Fisits

L: 5ab ession


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6.0 , Curriculum Ma

!is table s!o#s t!e main learnin' outcomes #!ic! are develo"ed and/or assessed in t!is module:

Methods o< #eliver!

)odule 51 52 5 54 57 5L 5 5C 5

B?E S S S S

Notes

51: 8n understandin' of or'ani.ations, t!eir external context and t!eir mana'ement$

52: 8n a#areness of current issues in business @ mana'ement #!ic! is informed b researc! @"ractice in t!e field$

5 : 8n understandin' of a""ro"riate tec!ni*ues sufficient to allo# investi'ation into relevantbusiness @ mana'ement issues$

54: !e abilit to ac*uire @ anal .e data and information$

57: !e abilit to a""l relevant kno#led'e to "ractical situation$

5L: !e abilit to #ork @ lead effectivel in a team based environment$

5 : 8n im"rovement in bot! oral @ #ritten communication skills$

5C: Be co'ni.ant of t!e im"act of t!eir individual @ cor"orate actions on societ and reco'ni.eet!ical business "ractices$

5 : Be sensitive to t!e social economic and environmental res"onsibilities of business$

Course Manual -Basics of Economics (2012)

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Transcript of Course Manual -Basics of Economics (2012)