BSc Management with Industrial/Professional Experience

Year of entry: 2024

Course unit details:
Economic Analysis I: Firm Market and the Economy

Course unit fact file
Unit code BMAN24431
Credit rating 20
Unit level Level 2
Teaching period(s) Semester 1
Available as a free choice unit? No


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. 


Unit title Unit code Requirement type Description
Economic Principles : Microeconomics BMAN10001 Pre-Requisite Compulsory
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.

Learning outcomes

• 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.

Teaching and learning methods

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

Assessment methods

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

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.
•    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.

Recommended reading

• 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).

Study hours

Scheduled activity hours
Lectures 33
Seminars 8
Independent study hours
Independent study 159

Teaching staff

Staff member Role
Mohammad Salehnejad Unit coordinator

Additional notes

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

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