ECON06009 2016 Introductory Microeconomics for Marketing
Full Title
Introductory Microeconomics for Marketing
Transcript Title
Microeconomics
Code
ECON06009
Attendance
N/A %
Subject Area
ECON - Economics
Department
MRKT - Marketing, Tourism and Leisure
Level
06 - NFQ Level 6
Credit
05 - 05 Credits
Duration
Semester
Fee
€
Start Term
2016 - Full Academic Year 2016-17
End Term
9999 - The End of Time
Author(s)
Louise Walsh
Programme Membership
SG_BSALE_B07 201600 Bachelor of Business in Marketing and Sales
SG_BINTE_H08 201600 Bachelor of Business (Honours) in International Marketing and Languages
SG_BDIGI_B07 201800 Bachelor of Business in Digital Marketing
SG_BMARK_C06 201600 Higher Certificate in Business in Marketing
SG_BSALE_B07 201700 Bachelor of Business in Marketing and Sales
SG_BIMFR_H08 201900 Bachelor of Business (Honours) in Business in International Marketing with French
SG_BIMGE_H08 201900 Bachelor of Business (Honours) in Business in International Marketing with German
SG_BIMSP_H08 201900 Bachelor of Business (Honours) in Business in International Marketing with Spanish
SG_BDIGI_B07 201900 Bachelor of Business in Digital Marketing
SG_BSALE_B07 201900 Bachelor of Business in Business in Marketing and Sales
SG_BINTE_H08 201900 Bachelor of Business (Honours) in International Marketing and Languages
SG_BSALE_B07 202100 Bachelor of Business in Business in Marketing and Sales
SG_BINTE_H08 202100 Bachelor of Business (Honours) in International Marketing and Languages
SG_BINTE_H08 202200 Bachelor of Business (Honours) in International Marketing and Languages
SG_BSALE_B07 202200 Bachelor of Business in Marketing and Sales
SG_BINTE_H08 202200 Bachelor of Business (Honours) in International Marketing and Languages
Description
This module introduces the student to the basic concepts of microeconomics and to provide them with the ability to understand the behaviour or firms and markets.
Learning Outcomes
On completion of this module the learner will/should be able to;
1.
Understand the discipline of economics and why it is relevant to business
2.
Define market demand, supply and equilibrium
3.
Identify using demand and supply analysis equilibrium price and output levels
4.
Describe and give examples of market failure
5.
Define and calculate elasticity
6.
List the factors of production and understand the production function
7.
Explain the law of diminishing marginal returns
8.
Identify and explain economies and diseconomies of scale
9.
Calculate the profit maximising position for a firm
10.
List and explain the various forms of market structures
Teaching and Learning Strategies
Lectures supported by tutorials
Module Assessment Strategies
Continuous assessment will account for 30% of the overall mark and the final exam will account for 70% of the overall mark.
The continuous assessment will consist of one of the following:
- Group project
- Written assessment
- Multiple choice assessment
- Essay
- Report
Repeat Assessments
Exam and / or continuous assessment
Indicative Syllabus
Topic 1: Introduction to Economics
- Define economics
- Role of economics
- Factors of production
- Choice
- Scarcity
- Opportunity cost
- Different economic systems
Topic 2: Demand and Supply
- Define market, demand and supply
- Define the factors affecting demand and supply
- Determine the prices and output levels within the market
- Market equilibrium
- Price controls
- Market failure
Topic 3: Elasticity
- Define elasticity
- Types of elasticity
- Calculating elasticity
- Use of elasticity
Topic 4: Production, Cost and the Firm
- Production function
- Law of diminishing returns
- The costs of the firm
- Economies/diseconomies of scale
- Revenue
- Profit maximisation
Topic 5: Market Structures
- Perfect competition
- Monopoly
- Imperfect competition
Coursework & Assessment Breakdown
Coursework & Continuous Assessment
30 %
End of Semester / Year Formal Exam
70 %
Coursework Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Continuous Assessment One of the following: Group project, Written exam, Multiple choice exam, Essay or Report | Coursework Assessment | UNKNOWN | 30 % | Week 8 | 1,2,3,4,5,6 |
End of Semester / Year Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Final Exam comprising multiple choice and/or long questions | Final Exam | UNKNOWN | 70 % | End of Term | 1,2,3,4,5,6,7,8,9,10 |
Full Time Mode Workload
| Type | Location | Description | Hours | Frequency | Avg Workload |
|---|---|---|---|---|---|
| Lecture | Tiered Classroom | Lecture | 2 | Weekly | 2.00 |
| Tutorial | Flat Classroom | Tutorial | 2 | Weekly | 2.00 |
| Independent Learning | UNKNOWN | Self Study | 3 | Weekly | 3.00 |
Total Full Time Average Weekly Learner Contact Time 4.00 Hours
Required & Recommended Book List
Recommended Reading
2011-09-01 Principles of Economics. by Gerard Turley, Maureen Maloney, Francis O'Toole Gill & MacMillan
ISBN 0717149889 ISBN-13 9780717149889
2011-09-01 Principles of Economics. by Gerard Turley, Maureen Maloney, Francis O'Toole Gill & MacMillan
ISBN 0717149889 ISBN-13 9780717149889
Updated edition of this successful textbook, which introduces the theory andpractice of economics within an Irish and European context, with particular reference to both recent and current economic conditions. m Includes a CD-ROM with interactive graphs, self-test multiple choice questions and interactive lessons/tutorials. New to this edition: * New material reflecting the changed economic conditions of the Irish economy resulting from the banking and fiscal crises that began in 2007 * Revised chapter on economic growth and the Irish economy, which includesthe banking crisis and the property crash * Reflections on the Celtic Tiger era, including causes and consequences * New section on the eurozone and sovereign debt crisis * New case studies and questions, with answers now available online * Continues to provide the reader with a solid theoretical grounding in bothmicroeconomics and macroeconomics Includes a CD-ROM with interactive graphs, self-test,multiple choice questions and interactive lessons/tutorials. SUITABLE FOR: Students taking economics at degree, diploma or certificate level. Updated edition of this successful textbook, which introduces the theory and practice of economics within an Irish and European context, with particular reference to both recent and current economic conditions. New to this edition: _ New material reflecting the changed economic conditions of the Irish economy resulting from the banking and fiscal crises that began in 2007 _ Revised chapter on economic growth and the Irish economy, which includes the banking crisis and the property crash _ Reflections on the Celtic Tiger era, including causes and consequences _ New section on the eurozone and sovereign debt crisis _ New case studies and questions, with answers now available online _ Continues to provide the reader with a solid theoretical grounding in both
Module Resources
Non ISBN Literary Resources
Turley, Maloney & O'Toole (20011) Principles of Economics An Irish Textbook 4th Edition Dublin: Gill & Macmillan
Other Resources
None
Additional Information
None