Business Economics

Code

BUSI4273

School

Nottingham University Business School

Level

4

Credits

10

Semesters

Full Year Malaysia

Summary

In the mixed economy, society's productive resources are allocated by a mixture of planning (government and firms) and decentralised decision making (individuals and markets). The module provides an introduction to the economic analysis of resource allocation at the level of individual consumers, firms, markets and the overall economy to show how these alternative economic principles can be used to promote the optimal allocation of resources for society as a whole.

Target Students

Only students registered on the MBA programme.

Classes

30 hours contact time over a one-week intensive block Activity : Lecture topics, industrial talks or other relevant module learning activities Number of weeks : 1 Week Number of sessions : 7 per week. Duration of a session : 3 hours (weekday) to 7.5 hours (weekend)

Assessment

• 40% Coursework: 2000 words coursework
• 60% Take Home Exam (24-hour): Take Home Exam 24 hours

Educational Aims

Learning Outcomes

Knowledge and understanding.

This module develops a knowledge and understanding of:

• Markets - the development and operation of markets for resources, goods and services
• Marketing and sales - different approaches for segmentation, targeting, positioning, generating sales, and the need for innovation in product and service design
• The management of resources

Intellectual skills:

This module develops:

• Being able to think critically and be creative: manage the creative processes in self and others; organise thoughts, analyse, synthesise and critically appraise. This includes the capability to identify assumptions, evaluate statements in terms of evidence, detect false logic or reasoning, identify implicit values, define terms adequately and generalise appropriately
• Being able to solve complex problems and make decisions: establish criteria, using appropriate decision-making techniques including identifying, formulating and solving business problems; and the ability to create, identify and evaluate options; the ability to implement and review decisions
• Using information and knowledge effectively in order to abstract meaning from information and to share knowledge, including the use of quantitative skills

Professional practical skills

This module develops:

• The ability to conduct research and enquiry into business and management issues either individually or as part of a team through research design, the collection and analysis of quantitative data, synthesis and reporting

Transferable (key) skills: This module develops:

• Effective communication: networking, listening, oral and written communication of complex ideas and arguments, using a range of media, including the preparation of business reports
• High personal effectiveness: critical self-awareness, self-reflection and self-management; time management; conflict resolution, displaying commercial acumen, the ability to continue to learn through reflection on practice and experience

Conveners

• Dr Yoong Hon Jason Lee