This module examines the nature of competition and the role of the firm in contemporary capitalism. It examines the different forces shaping market structure so as to elucidate in what sense a market structure is competitive or not - for example the role of barriers to entry, government policy or technology. The module explores different market structures, from monopolistic to highly competitive, thus throwing light on the conduct and performance of firms within these structures. The role, nature and aims of the firm are examined. It also analyses how some firms are capable of imposing themselves on market structure and are not simply passive recipients. Different categories of firms, multinational, large, medium, small and micro, are outlined so as to build a more complete picture of modern firm structure.
On successful completion of the module, students will be able to:
Students will attend weekly workshops. A set of lecture slides are generally provided on the VLE but active note taking is required. An active participatory style is encouraged. Substantial independent study is required to deepen knowledge of the lecture and seminar topics as well as engage in wider reading and prepare for assessment.
Definitive UNISTATS Category | Indicative Description | Hours |
---|---|---|
Scheduled learning and teaching | Workshops | 44 |
Guided independent study | Independent study | 256 |
Total (number of credits x 10) | 300 |
The final grade for this module is a weighted average of the marks for a short essay of 1500 words (30%) done during the module and a two hour exam (70%) at the end of the module. The short essay will assess the early foundational topics. It will be both a summative assessment and a formative one since there will be feedforward so as to improve later exam performance. This will be via a seminar in which all students are given back their essay individually and given whatever information is necessary to improve their performance. If any students require more input then office hours are available for more individual feedforward.
Learning Outcome | Assessment Strategy |
---|---|
Evaluate market structure within a competitive environment. Analyse and evaluate competitive behaviour within these market structures. | The short essay (30% of mark) will assess these foundational topics. This is both summative and formative (providing feedforward). |
Grasp the nature of the modern firm in an age of global change and competition; use tools to analyse the performance of a firm; demonstrate specialised knowledge of small and medium size firms. | The written exam and short essay will test these subject matters. |
Show critical knowledge of the growth of firms, including multinationals. Understand the key elements of competition policy, regulation, privatisation and public ownership. | The written exam will test these subjects. This will be a summative assessment (70% of the mark). |
Description of Assessment | Definitive UNISTATS Categories | Percentage |
---|---|---|
Coursework | Essay | 30 |
Written Exam | Two hour unseen examination | 70 |
Total (to equal 100%) | 100% |
It IS NOT a requirement that any element of assessment is passed separately in order to achieve an overall pass for the module.
Lipczynski, J.,Wilson, J. and Goddard, J. 2005. Industrial Organisation. UK:Pearson Education Ltd.
Davies, H. and Pun-Lee, Lam. 2001. Managerial Economics, UK:Pearson Education Ltd.
Texts with useful chapters:
Griffiths, A. and Wall, S. 2012. Applied Economics. UK:Pearson Education Ltd.