ACADEMIC YEAR
2015/2016
PROVISIONAL MODULE OUTLINE
Certificate of Higher Education
ECONOMICS
Managerial Economics (Fast Track)
BUEM072S4ACB
CLASS DETAILS
First Meeting
Tuesday 5 Jan 2016, 6.30-8.30pm (11 meetings plus 2 Saturday schools)
Term Dates
5 January – 15 March 2016
Saturday Schools
6 February 2016, 10am-5pm and 5 March 2016, 10am–5pm
Module taught by
Dr Stephen Romer
Whilst we endeavour to teach on the Saturdays listed in the module outline, dates are liable to
alteration after the module has begun.
Please be aware that students should not be attending any classes until they have formally
enrolled.
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Contents
MODULE DESCRIPTION ......................................................................................................................3
COURSEWORK AND ASSESSMENT....................................................................................................4
REFERENCES ......................................................................................................................................5
READING LISTS ...................................................................................................................................6
TOPICS .................................................................................................................................................7
ESSAY TITLES ......................................................................................................................................8
Please read the Certificate of Higher Education Economics Student Handbook carefully for
information and College policies regarding your studies.
2
MODULE DESCRIPTION
This module is concerned with managerial decision-making in an environment of risk and uncertainty. We
shall consider pricing decisions, constrained optimism, risk analysis, costs, demand, investment and the
growth of the firm.
Aims


To enable students to develop the skills and to provide the opportunity to practice the study of
Managerial Economics.
To develop a critical understanding of methods, procedures and current issues and debates
appropriate to the study of Managerial Economics.
Student Outcomes
By the end of the module you should:
 have gained a knowledge and understanding of the themes, issues and debates within the
study of Managerial Economics
 be able to think critically and independently about what they have seen and read
 have been introduced to the range of skills and critical vocabularies needed to facilitate the
study of Managerial Economics
 gained a critical understanding of the application of the methods involved in the study of
Managerial Economics
 have completed and been assessed on their coursework
Teaching Arrangements
Teaching and learning takes place by means of lectures, seminars and class presentations by students
individually or in groups.
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COURSEWORK AND ASSESSMENT
Students will be expected to prepare essays for formal assessment and to undertake a compulsory in-class
assessment.
Assessment will consist of three elements:
1. Coursework amounting to 3,000 words in total to be made up of two assignments of 1,500 words
each, to be submitted by weeks 5 and 10. These assignments will account for 60% of the total marks.
The final deadline for submission of coursework to the class tutor is the final class of the term (week 11).
Assignments submitted after the final class of the term will not be assessed without unless a mitigating
circumstances form and supporting evidence has been submitted (further information please see
Student Handbook).
2. A compulsory in-class assessment of 2 hours which will carry 40 % of the possible marks. This will take
place in week 11. There will be a central re-sit date allocated for those who provide evidence that they
cannot attend the unseen assessment in week 11.
3. In-class participation is marked as pass/fail. Criteria include regular contributions to class (e.g. groupwork, discussions, mini-presentations or other exercises), awareness of required reading,
listening/communication skills.
All assessment must be passed to be eligible for credit. Please keep a copy of all work you submit.
You may produce up to two trial assignments if you wish which can be used for feedback. The course
lecturer will give suggestions for improvement. These will NOT go forward for final assessment
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REFERENCES
Please ensure that:
 you use appropriate footnoting or end noting,
 all references consulted, and all quotations reproduced, are properly cited, including where
necessary specific page references,
 you include a full Bibliography representing the actual texts consulted
 you use texts that are written in English only
It is essential that you reference sources correctly. If you fail to reference sources correctly, you run the
risk of plagiarising. If a student’s work is proven to be plagiarised, this can result in the student
automatically failing the course.
The referencing formats below are widely adhered to in Economics:
BOOK-1 AUTHOR
SURNAME, INITIAL(S). YEAR. TITLE, CITY: PUBLISHER.
EXAMPLE: Denoeux, G. 1993. Urban Unrest in the Middle East: A Comparative Study of Informal Networks in Egypt, Iran
and Lebanon. New York: State University of New York Press.
BOOK-2 OR 3 AUTHORS
SURNAMES, INITIALS. YEAR. TITLE, CITY: PUBLISHER.
EXAMPLE: Buzan, B., O. Wever, and J. de Wilde. 1998. Security: A New Framework for Analysis. Boulder, CO: Lynne
Rienner.
BOOK-4 OR MORE AUTHORS
SURNAME(S), INITIAL(S) ET AL., EDS. (IF RELEVANT) YEAR. TITLE, CITY: PUBLISHER.
EXAMPLE: Held, D. et al., eds. 2005. Debating Globalization. Cambridge: Polity Press.
BOOK-SECOND OR LATER EDITION
SURNAME(S), INITIAL(S). YEAR. TITLE, NUMBER EDITION, CITY: PUBLISHER.
EXAMPLE: Calvocoressi, P. 2008. World Politics since 1945. 9th edition. London: Longman.
CHAPTER IN (EDITED) BOOK
SURNAME(S) CHAPTER AUTHOR, INITIAL(S). YEAR. “TITLE OF CHAPTER,” IN SURNAME(S), INITIAL(S), ED(S). TITLE
OF BOOK. CITY: PUBLISHER, PP:.
EXAMPLE: Murphy, C. 2002. ‘‘Why Pay Attention to Global Governance?,’’ in Wilkinson, R., and S. Hughes, eds.
Global Governance: Critical Perspectives. London: Routledge, pp. xi-xvii.
JOURNAL ARTICLE
SURNAME(S), INITIAL(S). YEAR. TITLE OF ARTICLE. NAME OF THE JOURNAL VOLUME(ISSUE NUMBER): PAGE
NUMBERS.
EXAMPLE: Martin, L., and B. Simmons. 1998. Theoretical and Empirical Studies of International Institutions.
International Organization 52(4): 729–757.
NEWSPAPER ARTICLE
SURNAME(S), INITIAL(S). YEAR. TITLE OF ARTICLE. TITLE OF NEWSPAPER, DAY MONTH BEFORE PAGE NUMBER
AND COLUMN LINE.
EXAMPLE: Glapper, R. 2005. Transnational corporate recruitment and the welfare state: Pressing issues for
governments and lawyers. The New Times, 4 Sep. p.4b.
WEB PAGE
SURNAME(S), INITIAL(S). YEAR. TITLE. PLACE OF PUBLICATION, PUBLISHER (IF ASCERTAINABLE). AVAILABLE
FROM: INTERNET ADDRESS [ACCESSED DY/MNTH/YR].
EXAMPLE: Zuttel, F., and M. Hobland. 2002. References: Harvard systems. Powle, Burnemouth University. Available
from: http://www.burnemouth.edu/service.html [Accessed 18 November 2002].
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READING LISTS
Purchase of some or all advisable (but not before the first class as we occasionally have to cancel
classes)
There is a wide range of general text books on Managerial Economics and it is worth browsing before
deciding which to adopt. The main texts include:
George A. Petrochilos. Managerial Economics. A European Text. Palgrave Macmillan. 2004.
Dominick Salvatore, Managerial Economics in a Global Economy. Thomson Southwestern. 5th. Edition.
2004.
John Sloman and Mark Sutcliffe, Economics for Business. Prentice Hall, 4th Edition 2006.
Paul Keat and Philip Young, Managerial Economics Prentice Hall, 2000.
Mark Hirschey, James Pappas and David Whigham, Managerial Economics. European Edition.
Dryden Press, 1995.
OTHER GENERAL READINGS
Useful additional reference books for relevant economic theory are:
J. Sloman, Economics. Prentice Hall. 6th. Edition. 2006.
D. Hay and D. Morris. Industrial Economics. Theory and Evidence. OUP, 1991.
Good bookshops include: The LSE Bookshop; Waterstones; Foyles;
Secondhand Stores: Skoob Books, Judd Books
Websites: abebooks.co.uk amazon.co.uk
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TOPICS
The readings given below for each topic are in no sense comprehensive or required reading. An indication
is given of the relevant chapters in the set texts, together with an identification of some of the better works
dealing with the topics specified.
1.
Introduction to Managerial Economics.
2.
Decision Making and the Economic Environment.
3.
Demand Analysis.
4.
Costs of Production. The Supply Side.
5.
Traditional Theory of the Firm. Firm’s objectives.
6.
Managerial objectives of the Firm.
7.
Pricing Decisions 1.
8.
Pricing Decisions 2.
9.
Optimisation Techniques 1.
10.
Optimisation Techniques 2.
11.
Product Competition
12.
Review
13.
Decision Making Under Risk
14.
Decision Making Under Uncertainty
15.
The Growth of the Firm.
16.
Investment Decisions 1
17.
Investment Decisions 2
18.
Advertising
19.
Micro Economic Policy and the Firm
20.
Revision for in-class test
21.
In-class test
22.
Return of the Test Papers and the Second Coursework.
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ESSAY TITLES
Essay 1 (Deadline Week 5)
Essay 2 (Deadline week 10)
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