BSc Management (Marketing) with Industrial/Professional Experience / Course details

Year of entry: 2023

Course unit details:
Economic Principles

Course unit fact file
Unit code BMAN10001
Credit rating 10
Unit level Level 1
Teaching period(s) Semester 1
Available as a free choice unit? No


The theory of the market, elasticity; production and cost theory, models of perfect completion, monopoly and imperfect competition; introductory game theory and business strategy; introduction to macroeconomic concepts, national Income and its measurement, determination of N.I in the long-run; the monetary system and inflation.


Only available to students on: Mgt/Mgt (Specialism); IMABS; IM and ITMB.

Only available to students on: Mgt/Mgt (Specialism);; IM and ITMB.



This course aims to provide an introduction to the tools and concepts of economic analysis at the level of the individual, market and the economy. This will include an analysis of consumer and firm behaviour and alternative market structures. The course will further provide a modern view of macroeconomic behaviour to explain the influence of macroeconomic variables (e.g., GDP growth and inflation) and policy on business activities. 

Learning outcomes

By the end of the course, students should be able to:
a) Discuss the operation of supply and demand and how prices are determined,
b) Evaluate consumer decisions based on indifference curve analysis and other economic theories,
c) Analyse a firm’s production and cost decisions,
d) Evaluate theories of the firm and draw managerial lessons,
e) Discuss models of Perfect competition, Monopoly and Imperfect competition
f) Introduce the concept of strategic behaviour, with reference to real business cases
g) Understand and apply relevant macroeconomic models
h) Understand how national income is measured and what determines it
i) Understand how the monetary system works and
j) Understand business cycles and inflation.

Teaching and learning methods

Methods of delivery: Lecture/seminars /computer aided learning

Lecture hours: 20 (2 hours per week over 10 weeks)

10 supporting videos for students studying economics for the first time.

Seminar hours: 5 (1 hour per fortnight)

Private study: 75
Total study hours: 100 hours split between lectures, classes, self-study and preparation for classes, coursework and examinations.


Employability skills

The course uses a rich mix of theory and practice, with an emphasis on applying economic theory to real business decisions to help students develop an understanding a wide variety of business situations from economics to finance, which will prepare them for the future job markets.

Assessment methods

Exam - Multiple choice test (90 minutes) 85%

Class participation: 15%


Class participation mark is based on in-class online 8 MCQ practices via Blackboard. The mark will be given based on the 5 MCQs practices with the highest marks. DASS students are allowed to submit their answers online outside the class during the same day. Students will randomly be assigned to MCQs. The questions will be based on case studies distributed in advance.   


Feedback methods

-          Informal advice and discussion during a lecture, seminar, workshop or lab.

-          Online exercises and quizzes delivered through the Blackboard course space.

-          Responses to student emails and questions from a member of staff including feedback provided to a group via an online discussion forum.

-          Specific course related feedback sessions.

-          Generic feedback posted on Blackboard regarding overall examination performance.

Recommended reading

The required textbook for the subject is:
Parkin, M., PowelI, M.l and K. Matthews, Economics (2018), 11th, Addison Wesley, or 
Weekly case studies (posted on Blackboard - students are asked to read the cases before the lectures).
We will also cover sections from the following textbooks (though no need to purchase them):
Begg, D., Fischer, S. and R. Dornbusch, Economics (2011), 11th ed., McGraw-Hill Varian, H. (2014) Intermediate Microeconomics: A Modern Approach, 9th ed., W. W. Norton.
McDowell, M., Thom, R., Pastine, I., Frank, R. and B. Bernanke (2012), Principles of Economics, McGraw Hill, 3rd edition.



Study hours

Scheduled activity hours
Lectures 20
Seminars 5
Independent study hours
Independent study 75

Teaching staff

Staff member Role
Mohammad Salehnejad Unit coordinator

Additional notes

Pre-requisites: None

Co-requisites: None

Dependent course units: BMAN24431 Economic Analysis I: Firm, Market and the Economy, BMAN31881 Economic Analysis II: Corporate Development, Growth & Strategy, and BMAN31952 Digital Economy: Platforms, AI & the Business.

Programme Restrictions: Only available to students on: Mgt/Mgt (Specialism);; IM.

For Academic Year 2022/23

Updated: March 2022

Approved by: March UG Committee

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