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| Module Availability |
| Autumn |
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| Assessment Pattern |
| Unit(s) of Assessment |
Weighting Towards Module
Mark (%)
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| 2 hour Examination |
70
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Coursework 1
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10
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| Coursework 2 |
20
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Qualifying Condition(s)
A weighted aggregated mark of 40% is required to pass the module |
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| Module Overview |
This module is concerned with the reasons why firms exist, the ways that they are structured and how firms' strategy is designed and conducted |
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| Prerequisites/Co-requisites |
None |
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| Module Aims |
The aim of the module is to help students understand the economic analysis of firms. It introduces students with economic framework that explains how firms organise and co-ordinate their activities and how different market structures and government policies influence firms' decision-making processes |
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| Learning Outcomes |
By the end of the module students will be able to:-
- explain the difference between the neoclassical theory of the firm and the Coasian theory of the firm
- explain the concepts of transactions costs and asset specificity and how these affect the structure of the firm
- explain why some firms use many plants while others produce many products
- assess whether the market for corporate control is able to control firms' management
- explain the concepts of monopsony and efficiency wages
- describe the main competition policies used in the UK and Europe
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| Module Content |
The following is an indication of the likely topics to be covered:-
- the neo-classical theory of the firm
- the vertical and hoizontal boundaries of the firm
- corporate control
- human resource management
- market structure
- competition policy
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| Methods of Teaching/Learning |
Lectures (11)
Assessment Strategy:
The coursework will be composed of two in-course activities. The first will provide students with a list of short answer questions typical of those posed in Part A of the examination. Three of these will be presented to the students in the form of a mock exam. This will provide students with formative assessment of their understanding of basic concepts and models, indicated in the learning outcomes and module content. The second in-course activity will mirror Par B of the examination. Once again students will be given a number of in-depth questions to research from which two will be chosen in the form of a mock exam. These questions will require a more evaluative approach to the module content and satisfy the higher level elements of the learning outcomes. Both of these courseworks have the benefits of consolidating knowledge and allowing the student to plan how they deal with the demands of the final examination. |
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| Selected Texts/Journals |
Essential text:
S. Rickard, The Economics of Organisations and Strategy, 2006, McGraw-Hill
Recommended reading:
P. Cashian, Economics, Strategy and the Firm, 2007, Palgrave-Macmillan
M. Moschandreas, Business Economics, 2nd edition, 2000, Thomson Learning, London
J. Roberts, The Modern Firm:organisational design for performance and growth, 2004, Oxford University Press |
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| Last Updated |
10 March 2011 |
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