BSc International Management

This course offers a solid understating of key economic theories useful to running a modern firm and is both analytical and applied. The course studies theories of inflation, business cycles, financial cycles, financial crises, the monetary system, the IS-LM model, the Mundell Fleming model, theories of exchange rates and trade theories and their applications to business. The course also discusses  demand and supply forecasting, models of imperfect competition; non-cooperative game theory; advanced pricing strategies; advanced business strategies; economics of information, risk analysis and decision under uncertainty, asymmetric information and signalling; moral hazard and incentives;  introductory auction design; and investment analysis.

Throughout, the course will rely on rich recent economic and firm data to support analyses. All analyses are empirically based. 

BMAN24431 has pre-requisites of: BMAN10001. Only available to students on: Mgt/Mgt Specialism; IMABS; IM and ITMB.

Pre-requisite course units have to be passed by 40% or above at the first attempt unless a higher percentage is indicated within this course outline.

This course aims to provide a working knowledge of economic techniques relevant for managing a modern firm. The course demonstrates how a solid knowledge of topics such as demand estimation / forecasting, empirical investment analysis, pricing strategies; non-cooperative game theory; strategic behaviour; advance business strategies, oligopoly markets; economics of information, signalling; moral hazard and incentives; inter-temporal decisions under uncertainty;  auctions and market design help improve corporate decisions.
Gaining insights from modern macro: This course provides a coherent understanding of macroeconomic factors and their impact on business activities and firm performance. By bridging theory and practice through a rich mix of academic concepts and real case materials, it equips students with the skills to systematically analyze economic news and use it to optimize corporate decision-making.

Notably, equip students with an ability to use Excel (or R - optional) to analyse data in business decision making, use economic theories to make sense of economic data and news, and use their understanding to improve on business decisions and master data-driven business decision making.

• Understand the general economic way of thinking about business decisions and how to apply it to real decision scenarios by designing optimal business strategies,
• Develop an ability to use Excel or R to analyse data in business decision making in firms.
• Develop an ability to make sense of economic data / news in an intuitive manner to enhance decision making in the firm. 
• Understand different theories of the firm, models of imperfect competitions pricing strategies, and advanced business strategies
• Understand how to use data to assess business decisions, estimate future demand and supply and analyse investment projects.
• Understand decision making under uncertainty; explain the impact of imperfect information and methods to deal with it; and analyze principal-agent problems in the firm
• Understand how the monetary system works
• Understand the causes and costs of inflation.
• Analyze an open economy in the long-run
• Analyze and explain short-run fluctuations in an economy using the AD-AS, IS-LM and Mundell-Fleming models.
• Understand modern theories of business cycles and use them to inform corporate decisions.
• Understand drivers of credit cycles, financial cycles and credit crunches
• Understand how to effectively use information about the state of the economy to improve corporate decisions.

Methods of delivery: Lectures and seminars

• Lecture hours: 33 (3 hours per week- two-hours lecture (Wednesdays) and one hour applied lecture (Mondays))
• Seminar hours: 8 (1 hour every week for 8 weeks, starting from week 2)
• Private study: 159

Total study hours: 200 hours split between lectures, classes, self-study and preparation for classes, coursework and examinations.

Informal Contact Methods
TBA

1. Examination (75%)
2. Coursework (25%)
 

•    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.
•    Written and/or verbal comments on assessed or non-assessed coursework.
•    Written and/or verbal comments after students have given a group or individual presentation.
•    Generic feedback posted on Blackboard regarding overall examination performance.

• Baye, M.R., (2022) Managerial Economics & Business Strategy, 10th Edition, Irwin McGraw-Hill, 
• Olivier, B., Amighini, A. and Francesco, G., 2021. Macroeconomics. A European Perspective.
• Mankiw, G: Macroeconomics (10th edition), Palgrave Macmillan
• Weekly case studies (students are required to study the cases before coming to the lecture).

Pre-requisites: BMAN10001 Economics Principles: Microeconomics

Dependent course units: BMAN31181Economic Analysis II: Corporate Development, Growth & Strategy
Programme Restrictions: BSc Management and Management (Specialisms), BSc International Management with American Business Studies, BSc International Management Core: BSc Management (International Business Economics) Core: BSc ITMB (Strategy & Economics)

BMAN24431 is available to study abroad and exchange students admitted through the University of Manchester’s International Programmes Office

For Academic Year 2024/25

Updated: March 2024

Approved by: March UG Committee