Economics and Policy
- Module code
- Module leader
- Allan Butler
- Module level
- Module credits
- Min study time
- 150 hours
- Contact Hrs within study time
- 40 hours
- Teaching period
- Semester 2
Production economics; Decision-Making Theory (as applied to tactical and strategic decision-making). Micro-economic theory, particularly pricing theories and markets. Keynesian and Monetarists approaches to the macro-economy. Inflation and unemployment. International Trade Theory. The Common Agricultural Policy of the European Union. The World Trade Organisation and multilateral agreement on trade in agricultural products.
To achieve credit for this module, students must be able to:
- Understand the basic microeconomic principles of supply and demand, government intervention and externalities.
- Apply these principles to analyse a particular market.
- Demonstrate a critical knowledge and understanding of macroeconomic theory as applied to business.
- Evaluate the impact of government and other official organisations on business.
|Coursework||Case study analysis||50%|
|Coursework||Unseen exam (3 hours)||50%|
Students should be familiar with the content of the following:
- Hill, B. (2014). An introduction to Economics 4th Edition: Concepts for Students of Agriculture and the Rural Sector, Cabi.
- Mulhearn, C. and Vane H.R. (2012) Economics for Business, 2nd Edition. Palgrave Macmillan.
- Nellis, J. G. and Parker, D. (2006). Principles of business economics. 2nd ed. Pearson Education.