Industrial Economics I: Economics of Organisation and Innovation
| Code | School | Level | Credits | Semesters |
| BUSI2170 | Business | 2 | 20 | Autumn UK |
- Code
- BUSI2170
- School
- Business
- Level
- 2
- Credits
- 20
- Semesters
- Autumn UK
Summary
The aim of the module is to introduce students to the theoretical building blocks for the economic analysis of organisations and innovation from a variety of perspectives, as well as the application of theories toward understanding issues in the subject areas, covering topics such as organisational architecture, reward systems, performance measurement, various types of innovation, intellectual property and standards, economics of networks, innovation clusters and policy-related issues etc.
Target Students
Part I and II Business School undergraduate students who have taken BUSI1095 Introduction to Economics OR BUSI1097 Economic Principles OR BUSI1100Business Economics OR BUSI1099 Microeconomics for Business OR ECON1001 Introduction to Microeconomics. Also available to Exchange students.
Classes
- One 1-hour tutorial each week for 2 weeks
- Two 2-hour lectures each week for 11 weeks
Lectures: 2 x 2-hour lectures per week x 11 weeks (44 hours) and 1 x 60-minute tutorial per week x 2 weeks (2 hours). Independent study 154 hours (reading 74 hours, coursework preparation 40 hours; exam preparation 40 hours)
Assessment
- 50% Coursework: Individual essay (2500 words). Reassessment of this module is 100% exam.
- 50% Exam (2-hour): Exam. Reassessment of this module is 100% exam.
Assessed by end of autumn semester
Educational Aims
To help students understand the economic analysis of organisations and innovation, why firms exist and why innovation matters, how firms organise and co-ordinate their activities and how they undertake innovation in order to stay competitive.Learning Outcomes
Knowledge and Understanding
- The dynamic and changing nature of business and the consideration of the future of organisations within the global business environment, including the management of risk.
- The management of resources.
- Taking innovative business ideas to create new products, services or organisations including the identification of Intellectual Property and appreciation of its value.
- The applications of economics. To discover how to apply relevant economic principles and reasoning to a variety of applied topics, in particular in the fields of industrial orgainsation and managerial economics.
- Economic principles and tools addressing the microeconomic issues of decision and choice.
- Ability to apply core economic theory and economic reasoning to applied topics.
Intellectual skills
- The ability to analyse and evaluate a range of business data, sources of information and appropriate methodologies, which includes the need for strong digital literacy, and to use that research for evidence-based decision-making.
- The ability to analyse facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions
- Conceptual and critical thinking, analysis, synthesis and evaluation
Professional practical skills:
- The ability to apply business models to business problems and phenomena.
Transferable (key) skills
- Subject-specific transferable skills including analysis and problem-framing.
- Articulating and effectively explaining information.