September – December
The ESB Core provides a broad understanding of the tools of economics and strategy.
Data, Tools and Evidence (Online)
Strategy and Economics, in particular, rely on the analysis of data and this introductory online course develops the quantitative methods that underpin the testing of theories and the forecasting of the future. The course is designed to provide the essential statistics and mathematics background for the quantitative aspects of the various courses. It will also include coverage of the tools required to conduct a financial assessment as part of strategic analysis.
This course explores the way in which businesses respond to market incentives and the consequences for market behaviour; the nature and role of competition; and the role of innovation. It shows how firms can create and overcome barriers to entry, how advertising can expand the size of their market and how firms at different stages of the value chain interact. Product differentiation, price discrimination and other techniques for increasing revenues are also discussed.
Corporate strategy is concerned with the scope of the firm, determining which businesses and activities to include within the boundaries of the firm. Our focus is also on the challenge of managing and co-ordinating these different businesses and activities to achieve the overall goals of the firm. Topics to be included in this course include vertical and horizontal integration, international expansion, diversification, mergers and acquisitions, and strategic alliances.
Economics and Strategy for Innovation
Technological change is a major challenge for firms that demands careful strategic planning in order to ensure the firm successfully negotiates the shifting technology landscape in which it operates. At the same time, firms must also drive change themselves through the effective management of innovation. In this course, the strategic management of technological change and the management of innovation will be considered and a range of strategic and economic tools and frameworks for managing these critical issues presented.
Marketing is commonly defined as the management process responsible for identifying, anticipating and satisfying customer requirements profitably. The complex interface between strategy and marketing is the focus of this course and, in particular, the strategic role of marketing in realising corporate objectives and, in turn, gaining competitive advantage will be considered.
Management accounting comprises various techniques for the calculation of cost and performance, and also includes organisation wide control systems such as budgets and balanced scorecards. This course will address the technical and calculative aspects of these management accounting practices such that they directly support the effective definition and delivery of strategic objectives.
Analytics for Applied Economics and Business
Analytics for Applied Economics and Business discusses key empirical issues and standard empirical methods used for data analysis in applied economics and business. The module will not only discuss the use of the methods and their applications in business, but ensure that students properly understand the interpretation of the results and their implications for business decisions. In addition, students have an opportunity to obtain basic programming skills in some widely used statistical software.