Teaching Responsibility

LJMU Schools involved in Delivery:

LJMU Partner Taught

Learning Methods

Lecture

Online

Seminar

Module Offerings

4703YPCBSC-JAN-PAR

Aims

To introduce students to economic ideas and their relevance to business decisions.

Learning Outcomes

1.
Describe how markets work and the conditions that lead to market failure.
2.
Explain how competition between firms affects business behaviour.
3.
Describe the main macroeconomic objectives and policy options for achieving them.

Module Content

Outline Syllabus:
Economic systems and the importance of prices
Demand, supply
Elasticity Market structures.
The labour market and minimum wages.
Market failure and the rationale for government intervention in markets.
Macroeconomic policy objectives
Economic growth: what it is, why it matters and policy alternatives.
Unemployment: what it is, why it matters and policy alternatives.
Inflation: what it is, why it matters and policy alternatives
International trade and exchange rate systems
Module Overview:
Introducing economic ideas students and demonstrating the importance of economics for business, this module
describes how markets work and the conditions that lead to market failure. Students will learn about how
competition between firms affects business behaviour.

Assessments

Exam

Test