Introductory Lecture Bus

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It will build upon and develop the

economic concepts introduced in level 1.

! "
_ ôw can we explain what underlies consumer

behaviour?
_ What factors affect consumer demand for goods and

services?
_ To what extent is a person¶s demand influenced by

changes in income or in the prices of competitive
goods?
_ ôw do firms organise themselves to meet consumer

demands?

! "
_ What factors influence a firms goals and behaviour?
_ What is the relationship between a firm¶s output, its cost

and profitability?
_ ôw do firms decide on their pricing strategy?
_ ôw can a firm influence the degree of competition in

the market place?
#$##
_ There will be a series of weekly lectures
_ Eight tutorials in two blocks of four
_ Lasttwo weeks will be used solely for

reflection and revision.
$#
_ =ppreciate and evaluate the operations of a firm through
an economics framework.
_ Consider the position of the firm within it¶s competitive

environment.
_ =nalyse various pricing strategies available to the firm.
_ =ppreciate the goals of firms and constraints upon those

goals.

_ Introduction and key economic concepts

_ Consumer and market demand
_ Supply, costs and profit
_ Firms¶ objectives and behaviour
_ Markets structures
_ Pricing in theory and practice
%
_ & %%'(

_ =

=
_ =# [ r ##
_ Comprising integrated elements, the first

second
=
_ ) [ r weighting:
_ * examination [
i) answer r multiple choice questions [
weighting)
ii) answer + , question from a

choice of three [ weighting)
=
To pass the module, students must

obtain an overall weighted average of at
least 4 over the assignment and
examination.

_Dou must have achieved less than 4 on either
or both) the assignment or examination.
_To Resit you can retake either of the above where

you achieved below 4.
| -|
Dou must submit your assignment via

through the module Bb site.
=#
_ This is an individual assignment. Dou must

not work together with another student).
_ The assignment has a weighting within

the overall assessment of the module.
_ The assignment is split into two integrated

components, the first with a 2 weighting,
the second 3.
=#
_ The two components of the overall assignment

will be completed, submitted and marked
separately.
_ The first component in the first term, the second

component in the second term.
_ Feedback on the first component will be of

assistance to your success on the second.
=#
_ %%%
(-'.'
( ((
%%'

Requirements of the =ssignment:
_ Dou are a management consultant hired by a

firm.
_ They require you to present to the firm a five

page report;
_ Two pages maximum for the first component

and three pages maximum for the second
component.
Requirements of the =ssignment:
_ Each page must by typed by using =rial,
_ Font size 12,
_ Using single line spacing,
_ Portrait with a top and bottom margins of 2.4 cm
_ Left and right margins of 3.17 cm these are the Word

defaults).
'%#
*
_ = title page for each component with your name,

tutors name etc. No other information should be
included on this title page.
_ =n index page.
_ =dditional page or pages for references and

bibliography.
_ =n appendix to include, if you should so wish, tables,

diagrams or maps. They must have been referred to
and cross referenced within the text.
=#
= )(

'%# /

- % 2 overall module
assessment weighting)
_ D

_

!
"
_ D

=# "
_ Identify a firm you wish to analyse.
_ This firm could be in any sector of the economy, be of

any size and operate regionally, nationally or
internationally.
_ It could be a large multinational or a small owner

managed enterprise in manufacturing, servicing or
primary production.
_ If investigating a large multinational company producing

a range of products you might confine yourself to just
one of their products in a specified market area, for
example solely in the UK.
%(#
_ =nalyse the position of your firm within your

defined market, including«
_ an analysis of estimates of market share,
_ the number and type of competitors etc.
_ any recent changes in market position & market

developments should be noted and analysed.
=# "
_ When you submit your assignment,

complete and hand in with your
assignment the«
+- %* - ,.
=(
_ ´ of the marks will be awarded for your

analysis of the above.
_ 2 for presentation. It is within the

presentation element that you might be
deducted marks for exceeding the word count
and/or poor referencing.
Word of Caution«
_

#
$

_

% 3 overall module
assessment weighting)
_

%
á
&
&0=/1=2|&.-

3/&0
1. Identify the competitive structure of the

market in which the firm operates.
#

$
&0=/1=2|&.-

3/&0
2. Propose a strategy for the firm to improve their market

position and as a result anticipate the likely position of
the firm and the industry by the end of the year 21.
= ' ( ' (

$
=(
_ 4 of the marks will be awarded for your

analysis of the competitive structure.
_ 4 for your future strategy and anticipated

position of the firm and industry by the end of
21.
_ 2 for presentation.

%
When you submit your assignment, also

complete and hand in the µSecond
Component - Feedback Sheet¶

#$"
_ Worthington, I. Britton, C. & Rees, =. 2)
) * + F.T. Prentice
âll
_ Mc=leese, D. 21), * 2nd

Edition, FT Prentice âll
_ Mulhearn, C. Vane, ^. & Eden, J. 21),

* Palgrave.
_ ôrnby, W. Gammie, B & Wall, S. 21), *

2nd Ed. FT. Prentice âll.
=ll the Best!

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| 

It will build upon and develop the

_ ^ow can we explain what underlies consumer

_ What factors affect consumer demand for goods and

_ To what extent is a person¶s demand influenced by

_ ^ow do firms organise themselves to meet consumer

_ What factors influence a firms goals and behaviour?

_ What is the relationship between a firm¶s output, its cost

_ ^ow do firms decide on their pricing strategy?

_ ^ow can a firm influence the degree of competition in

_ There will be a series of weekly lectures

_ Eight tutorials in two blocks of four

_ Lasttwo weeks will be used solely for

_ Consider the position of the firm within it¶s competitive

_ =nalyse various pricing strategies available to the firm.

_ =ppreciate the goals of firms and constraints upon those

_ Introduction and key economic concepts

_ &  %% '( 

_ =  

_ =#  [ r ##

_ Comprising integrated elements, the first

_ )  [ r weighting:

ii) answer + , question from a

To pass the module, students must

_To Resit you can retake either of the above where

Dou must submit your assignment via

_ This is an individual assignment. Dou must

_ The assignment has a weighting within

_ The assignment is split into two integrated

_ The two components of the overall assignment

_ The first component in the first term, the second

_ Feedback on the first component will be of

_ Dou are a management consultant hired by a

_ They require you to present to the firm a five

_ Two pages maximum for the first component

_ Each page must by typed by using =rial,

_ Font size 12,

_ Using single line spacing,

_ Portrait with a top and bottom margins of 2.4 cm

_ Left and right margins of 3.17 cm these are the Word

_ = title page for each component with your name,

_ =dditional page or pages for references and

_ =n appendix to include, if you should so wish, tables,

=   )(

_        

_ D          

_ Identify a firm you wish to analyse.

_ This firm could be in any sector of the economy, be of

_ It could be a large multinational or a small owner

_ If investigating a large multinational company producing

_ =nalyse the position of your firm within your

_ an analysis of estimates of market share,

_ the number and type of competitors etc.

_ any recent changes in market position & market

_ When you submit your assignment,

_ ´ of the marks will be awarded for your

_ 2 for presentation. It is within the

_         

_      

1. Identify the competitive structure of the

|

_ & %%'(

_ =

_ =# [ r ##

_ Comprising integrated elements, the first

_ ) [ r weighting:

ii) answer + , question from a

= )(

_

_ D

_

_

#

= ' ( ' (

_ Mc=leese, D. 21), * 2nd

_ Mulhearn, C. Vane, ^. & Eden, J. 21),

_ ^ornby, W. Gammie, B & Wall, S. 21), *