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.

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