Module Details

Module Code: ECON H2014
Full Title: Managerial Economics
Valid From:: Semester 1 - 2019/20 ( June 2019 )
Language of Instruction:English
Duration: 1 Semester
Credits:: 5
Module Owner:: Alan Kelly
Departments: Unknown
Module Description: Managerial economics is the science of directing scarce resources in the management of an organisation. It deals with the formulation of decision criterion, which involves both the use of information and the achievement of goals.
It looks out how outcomes are optimised, how resources can be efficiently used in a sustainable manner and therefore minimised. This course will provide the student with the basic tools of rational economic analysis.
 
Module Learning Outcome
On successful completion of this module the learner will be able to:
# Module Learning Outcome Description
MLO1 Analyse economic evaluation techniques.
MLO2 Explain the concepts of decision-making for a firm.
MLO3 Identify and undertake rational economic analysis.
MLO4 Evaluate pricing policies open to firms.
MLO5 Analyse efficiency, pricing and markets
MLO6 Evaluate the strategic interaction between firms
Pre-requisite learning
Module Recommendations
This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named DkIT module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
 
Module Indicative Content
Introduction to managerial economics
Evaluating the relationship between economic information and firms decision making
Market Demand
Quantitative demand analysis, functions and demand curves - estimation of demand, consumer surplus and pricing.
Elasticity
role of elasticity in pricing, product and market decisions and how it effects revenues, .
Supply and efficiency
Converting accounting costs to economic costs. Analysing economics costs revenues and profits for decision making
Markets Equilibrium
Affect of market structures –on firm behavior and decision making
Module Assessment
Assessment Breakdown%
Course Work20.00%
Final Examination80.00%
Module Special Regulation
 

Assessments

Full-time

Course Work
Assessment Type Class Test % of Total Mark 20
Marks Out Of 0 Pass Mark 0
Timing S1 Week 8 Learning Outcome 1,2,3,4,5,6
Duration in minutes 60
Assessment Description
Using a combination of MCQs, qualitative questions and calculation the student will be asked to assess firms responses to decisions on pricing, production and costs.
No Project
No Practical
Final Examination
Assessment Type Formal Exam % of Total Mark 80
Marks Out Of 0 Pass Mark 0
Timing End-of-Semester Learning Outcome 1,2,3,4,5,6
Duration in minutes 0
Assessment Description
End-of-Semester Final Examination
Reassessment Requirement
A repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

DKIT reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full-time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Every Week 3.00 3
Directed Reading Non Contact No Description Every Week 3.00 3
Independent Study Non Contact No Description Every Week 3.00 3
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 3.00
Workload: Part-time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Every Week 2.00 2
Directed Reading Non Contact No Description Every Week 4.00 4
Independent Study Non Contact No Description Every Week 3.00 3
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 2.00
 
Module Resources
Recommended Book Resources
  • Ivan Png. (2016), Managerial Economics, 5th edition. 1-11, Routledge, Oxan England, p.277, [ISBN: 978-1-138-810].
Supplementary Book Resources
  • Timothy Fischer, David Prenatice and Robert Waschik. (2010), Managerial Economics, a strategic apporachf, 2nd edition. Routledge, Oxon, [ISBN: 9780415495172].
  • Baye, M.. Managerial Economics & Business Strategy, (5th Edition)ISBN: 0073050199, McGraw-Hill, 2006.
  • Maurice, S. C., C. R. Thomas. Managerial Economics, (8th Edition)ISBN: 0072871741, McGraw-Hill, 2005.
  • Dowling, E. T.. Schaum’s Outline Introduction to Mathematical Economics, (3rd Edition)ISBN: 007135896X, McGraw-Hill, 2001.
This module does not have any article/paper resources
This module does not have any other resources