Teaching Responsibility
LJMU Schools involved in Delivery:
LJMU Partner Taught
Learning Methods
Lecture
Tutorial
Module Offerings
4602TECYPC-SEP-PAR
Aims
To understand the economizing problem, specific economic issues and policy alternatives.
To understand and apply economic perspectives and reasons accurately and objectively.
To relate economic issues with business.
Learning Outcomes
1.
Understand the roles of firms, consumers and government in markets: why economics matters for business
2.
Understand market concentration and power.
3.
Relate economic growth and business cycles.
4.
Understand balance of payments, exchange rates, currencies and deficit correction.
Module Content
Outline Syllabus:Microeconomics
The problems of scarcity and resource allocation
Comparison of different economic systems
How price mechanism operates
Market structure – Perfect, monopolistic, oligopoly and monopoly.
Macroeconomics
Government - monetary and fiscal policy, national income
Inflation and employment
International trade-balance of payments, exchange rates and deficit correction
Trading groups and trade negotiations
Laws related to business operation in Malaysia- Companies Act1965/The Sale of Goods Acts.1957
Additional Information:Introduces students to the fundamental aspects of economics and their relationship to business and government. This module forms an essential background to other business oriented modules.