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BUSS5001 Firms, Markets and Business Management

The course, Firms, Markets and Business Management provides students with the tools to understand the impact of economic, socio-cultural, institutional, and technological factors on businesses’ operations. Such considerations are crucial for understanding how businesses make decisions and interact in the marketplace. This first part of the course provides an introduction to macroeconomic and microeconomic analysis and applications. In macroeconomics, we consider the determination of the aggregate level of economic activity, the economic effects of government policies, the link between interest rates and exchange rates and the level of economic activity. In microeconomics, we look at economic decision-making by individuals and firms and the determination of prices in different kinds of markets. The next part of the unit investigates wages, as well as the social, cultural, political and technological environments in which firms operate. It examines theories, models and conceptual tools that help us understand and make decisions in relation to these factors. The course is complemented by developing an understanding of the complexity of professional behaviour and ethical decision making.