Engineering Tripos Part IIA, 3E2: Marketing, 2019-20
Module Leader
Lecturer
Dr V Mak
Lab Leader
Dr V Mak
Timing and Structure
Michaelmas Term. 16 lectures. 16 Contact Hours + 3 Supervisions mixing lectures, case analysis and class discussion.
Aims
The aims of the course are to:
- Develop an understanding of fundamental marketing terms, concepts, principles, and theories.
- Develop an understanding of the close relationship between marketing and other functions within an organisation.
- Develop critical thinking and communication skills relating to marketing.
Objectives
As specific objectives, by the end of the course students should be able to:
- Display a fundamental understanding of the marketing management process in different environments, contexts and situations enabling students to use marketing approaches to facilitate goal achievement.
- Have a solid ‘first principles’ foundation, if wishing to pursue a career in marketing,
- If pursuing other career paths, have a sufficient understanding of marketing to be able to interact effectively with marketing personnel in cross-functional activities.
Content
Business has only two basic functions -- marketing and innovation. Everything else is a cost.
- Peter Drucker
Among business disciplines, marketing is the primary contact point between a business and its customers. Business majors and non-business majors will benefit by taking this course because nearly everybody wears a marketing hat during their career. Understanding marketing will help you whether you want to be an accountant, a movie producer, an engineer, a programmer, a doctor, or a museum curator. Understanding customer needs and how to marshal the resources of an organization to meet those needs will enhance your chances of career success.
This course develops a general management viewpoint in planning and evaluating marketing decisions – decision areas that include target markets, product, pricing, channels, and promotion. This course will also help you understand how marketing decisions are affected by organizational and environmental influences and will also enable you to develop your ability to contribute to general management. Accordingly, the course sessions are structured around the following topics:
- Introduction to Marketing.
- Understanding Customer and Context.
- Marketing Research.
- Understanding Company and Competition.
- Market Segmentation, Targeting and Positioning.
- Price and Promotion.
- Product and Place.
- Customer Loyalty and Relationships.
Coursework
Details to be announced in lectures.
There is no Full Technical Report (FTR) associated with this module.
Marketing Case Study Essay
Learning objectives:
- Identify one or more interrelated real-life marketing problems faced by the management of a product or service (or a collection of such under the same management) chosen by the student.
- State the problem(s), describe relevant background information, and suggest recommendations for the management in response to the problem(s).
- Apply course materials in the process to obtain an understanding of marketing in practice.
- Generate creative, relevant business ideas for marketing management.
- Write in an organised, concise manner with clearly presented and well-informed arguments in a business context.
Practical information:
- The essay is due for submission to the CUED Teaching Office by the end of the Michaelmas Term (the exact deadline to be announced in lectures).
- The student is expected to prepare and write up the essay at their own pace; the time and effort involved should be within the range for a standard coursework report.
Booklists
Indicative texts and a list of readings for each topic are given in the 3E2 Booklist, available via the Booklist for Part IIA Courses. These include major readings as well as some extra readings. Students are NOT required to do the extra reading or purchase any of the books, but are encouraged to draw on them if they wish to explore some of the topics further.
Examination Guidelines
Please refer to Form & conduct of the examinations.
UK-SPEC
This syllabus contributes to the following areas of the UK-SPEC standard:
Toggle display of UK-SPEC areas.
GT1
Develop transferable skills that will be of value in a wide range of situations. These are exemplified by the Qualifications and Curriculum Authority Higher Level Key Skills and include problem solving, communication, and working with others, as well as the effective use of general IT facilities and information retrieval skills. They also include planning self-learning and improving performance, as the foundation for lifelong learning/CPD.
IA1
Apply appropriate quantitative science and engineering tools to the analysis of problems.
KU1
Demonstrate knowledge and understanding of essential facts, concepts, theories and principles of their engineering discipline, and its underpinning science and mathematics.
KU2
Have an appreciation of the wider multidisciplinary engineering context and its underlying principles.
D2
Understand customer and user needs and the importance of considerations such as aesthetics.
D3
Identify and manage cost drivers.
D5
Ensure fitness for purpose for all aspects of the problem including production, operation, maintenance and disposal.
S1
The ability to make general evaluations of commercial risks through some understanding of the basis of such risks.
S2
Extensive knowledge and understanding of management and business practices, and their limitations, and how these may be applied appropriately to strategic and tactical issues.
P3
Understanding of contexts in which engineering knowledge can be applied (e.g. operations and management, technology, development, etc).
US1
A comprehensive understanding of the scientific principles of own specialisation and related disciplines.
Last modified: 15/05/2019 09:24
Engineering Tripos Part IIA, 3E2: Marketing, 2018-19
Module Leader
Lecturer
Dr V Mak
Lab Leader
Dr V Mak
Timing and Structure
Michaelmas Term. 16 lectures. 16 Contact Hours + 3 Supervisions mixing lectures, case analysis and class discussion.
Aims
The aims of the course are to:
- Develop an understanding of fundamental marketing terms, concepts, principles, and theories.
- Develop an understanding of the close relationship between marketing and other functions within an organisation.
- Develop critical thinking and communication skills relating to marketing.
Objectives
As specific objectives, by the end of the course students should be able to:
- Display a fundamental understanding of the marketing management process in different environments, contexts and situations enabling students to use marketing approaches to facilitate goal achievement.
- Have a solid ‘first principles’ foundation, if wishing to pursue a career in marketing,
- If pursuing other career paths, have a sufficient understanding of marketing to be able to interact effectively with marketing personnel in cross-functional activities.
Content
Business has only two basic functions -- marketing and innovation. Everything else is a cost.
- Peter Drucker
Among business disciplines, marketing is the primary contact point between a business and its customers. Business majors and non-business majors will benefit by taking this course because nearly everybody wears a marketing hat during their career. Understanding marketing will help you whether you want to be an accountant, a movie producer, an engineer, a programmer, a doctor, or a museum curator. Understanding customer needs and how to marshal the resources of an organization to meet those needs will enhance your chances of career success.
This course develops a general management viewpoint in planning and evaluating marketing decisions – decision areas that include target markets, product, pricing, channels, and promotion. This course will also help you understand how marketing decisions are affected by organizational and environmental influences and will also enable you to develop your ability to contribute to general management. Accordingly, the course sessions are structured around the following topics:
- Introduction to Marketing.
- Understanding Customer and Context.
- Marketing Research.
- Understanding Company and Competition.
- Market Segmentation, Targeting and Positioning.
- Price and Promotion.
- Product and Place.
- Customer Loyalty and Relationships.
Coursework
Details to be announced in lectures.
There is no Full Technical Report (FTR) associated with this module.
Marketing Case Study Essay
Learning objectives:
- Identify one or more interrelated real-life marketing problems faced by the management of a product or service (or a collection of such under the same management) chosen by the student.
- State the problem(s), describe relevant background information, and suggest recommendations for the management in response to the problem(s).
- Apply course materials in the process to obtain an understanding of marketing in practice.
- Generate creative, relevant business ideas for marketing management.
- Write in an organised, concise manner with clearly presented and well-informed arguments in a business context.
Practical information:
- The essay is due for submission to the CUED Teaching Office by the end of the Michaelmas Term (the exact deadline to be announced in lectures).
- The student is expected to prepare and write up the essay at their own pace; the time and effort involved should be within the range for a standard coursework report.
Booklists
Indicative texts and a list of readings for each topic are given in the 3E2 Booklist, available via the Booklist for Part IIA Courses. These include major readings as well as some extra readings. Students are NOT required to do the extra reading or purchase any of the books, but are encouraged to draw on them if they wish to explore some of the topics further.
Examination Guidelines
Please refer to Form & conduct of the examinations.
UK-SPEC
This syllabus contributes to the following areas of the UK-SPEC standard:
Toggle display of UK-SPEC areas.
GT1
Develop transferable skills that will be of value in a wide range of situations. These are exemplified by the Qualifications and Curriculum Authority Higher Level Key Skills and include problem solving, communication, and working with others, as well as the effective use of general IT facilities and information retrieval skills. They also include planning self-learning and improving performance, as the foundation for lifelong learning/CPD.
IA1
Apply appropriate quantitative science and engineering tools to the analysis of problems.
KU1
Demonstrate knowledge and understanding of essential facts, concepts, theories and principles of their engineering discipline, and its underpinning science and mathematics.
KU2
Have an appreciation of the wider multidisciplinary engineering context and its underlying principles.
D2
Understand customer and user needs and the importance of considerations such as aesthetics.
D3
Identify and manage cost drivers.
D5
Ensure fitness for purpose for all aspects of the problem including production, operation, maintenance and disposal.
S1
The ability to make general evaluations of commercial risks through some understanding of the basis of such risks.
S2
Extensive knowledge and understanding of management and business practices, and their limitations, and how these may be applied appropriately to strategic and tactical issues.
P3
Understanding of contexts in which engineering knowledge can be applied (e.g. operations and management, technology, development, etc).
US1
A comprehensive understanding of the scientific principles of own specialisation and related disciplines.
Last modified: 22/05/2018 15:56
Engineering Tripos Part IIA, 3E2: Marketing, 2017-18
Module Leader
Lecturer
Dr V Mak
Lab Leader
Dr V Mak
Timing and Structure
Michaelmas Term. 16 lectures. 16 Contact Hours + 3 Supervisions mixing lectures, case analysis and class discussion.
Aims
The aims of the course are to:
- Develop an understanding of fundamental marketing terms, concepts, principles, and theories.
- Develop an understanding of the close relationship between marketing and other functions within an organisation.
- Develop critical thinking and communication skills relating to marketing.
Objectives
As specific objectives, by the end of the course students should be able to:
- Display a fundamental understanding of the marketing management process in different environments, contexts and situations enabling students to use marketing approaches to facilitate goal achievement.
- Have a solid ‘first principles’ foundation, if wishing to pursue a career in marketing,
- If pursuing other career paths, have a sufficient understanding of marketing to be able to interact effectively with marketing personnel in cross-functional activities.
Content
Business has only two basic functions -- marketing and innovation. Everything else is a cost.
- Peter Drucker
Among business disciplines, marketing is the primary contact point between a business and its customers. Business majors and non-business majors will benefit by taking this course because nearly everybody wears a marketing hat during their career. Understanding marketing will help you whether you want to be an accountant, a movie producer, an engineer, a programmer, a doctor, or a museum curator. Understanding customer needs and how to marshal the resources of an organization to meet those needs will enhance your chances of career success.
This course develops a general management viewpoint in planning and evaluating marketing decisions – decision areas that include target markets, product, pricing, channels, and promotion. This course will also help you understand how marketing decisions are affected by organizational and environmental influences and will also enable you to develop your ability to contribute to general management. Accordingly, the course sessions are structured around the following topics:
- Introduction to Marketing.
- Understanding Customer and Context.
- Marketing Research.
- Understanding Company and Competition.
- Market Segmentation, Targeting and Positioning.
- Price and Promotion.
- Product and Place.
- Customer Loyalty and Relationships.
Coursework
Details to be announced in lectures.
There is no Full Technical Report (FTR) associated with this module.
Marketing Case Study Essay
Learning objectives:
- Identify one or more interrelated real-life marketing problems faced by the management of a product or service (or a collection of such under the same management) chosen by the student.
- State the problem(s), describe relevant background information, and suggest recommendations for the management in response to the problem(s).
- Apply course materials in the process to obtain an understanding of marketing in practice.
- Generate creative, relevant business ideas for marketing management.
- Write in an organised, concise manner with clearly presented and well-informed arguments in a business context.
Practical information:
- The essay is due for submission to the CUED Teaching Office at the end of the Michaelmas Term (the exact deadline to be announced in lectures).
- The student is expected to prepare and write up the essay at their own pace; the time and effort involved should be within the range for a standard coursework report.
Full Technical Report:
Students won't have the option to submit a Full Technical Report.
Booklists
Indicative texts and a list of readings for each topic are given in the 3E2 Booklist, available via the Booklist for Part IIA Courses. These include major readings that will be handed out in class, as well as some extra readings. Students are NOT required to do the extra reading or purchase any of the books, but are encouraged to draw on them if they wish to explore some of the topics further.
Examination Guidelines
Please refer to Form & conduct of the examinations.
UK-SPEC
This syllabus contributes to the following areas of the UK-SPEC standard:
Toggle display of UK-SPEC areas.
GT1
Develop transferable skills that will be of value in a wide range of situations. These are exemplified by the Qualifications and Curriculum Authority Higher Level Key Skills and include problem solving, communication, and working with others, as well as the effective use of general IT facilities and information retrieval skills. They also include planning self-learning and improving performance, as the foundation for lifelong learning/CPD.
IA1
Apply appropriate quantitative science and engineering tools to the analysis of problems.
KU1
Demonstrate knowledge and understanding of essential facts, concepts, theories and principles of their engineering discipline, and its underpinning science and mathematics.
KU2
Have an appreciation of the wider multidisciplinary engineering context and its underlying principles.
D2
Understand customer and user needs and the importance of considerations such as aesthetics.
D3
Identify and manage cost drivers.
D5
Ensure fitness for purpose for all aspects of the problem including production, operation, maintenance and disposal.
S1
The ability to make general evaluations of commercial risks through some understanding of the basis of such risks.
S2
Extensive knowledge and understanding of management and business practices, and their limitations, and how these may be applied appropriately to strategic and tactical issues.
P3
Understanding of contexts in which engineering knowledge can be applied (e.g. operations and management, technology, development, etc).
US1
A comprehensive understanding of the scientific principles of own specialisation and related disciplines.
Last modified: 12/08/2017 13:48
Engineering Tripos Part IIA, 3E1: Business Economics, 2025-26
Module Leader
Lecturer
Lab Leader
Timing and Structure
Lent term. 16 lectures and coursework.
Aims
The aims of the course are to:
- Introduce students to the use of economics to understand the operation and decisions of businesses, their industrial environment and the macroeconomy.
Objectives
As specific objectives, by the end of the course students should be able to:
- Understand and be able to work with the basic theory of demand and supply and market equilibrium. Apply supply and demand analysis as a qualitative forecasting tool to explain the effects of interventions in competitive markets.
- Understand how market forces, including but not limited to consumer expectations, rivals actions, and internal cost structures, affect optimal decisions pertaining price and production targets.
- Understand different forms of market structure, including perfect competition, monopoly and oligopoly.
- Apply game theory to managerial decision making under strategic settings.
- Assess and evaluate different pricing strategies based on their effectiveness at achieving stated goals of the firm and their impact on the economy.
- Understand the sources and consequences of information asymmetry on markets and identify strategies for mitigating the problems.
- Understand the concepts of market failure, externalities and public goods, and the policies a government might use to deal with them.
- Situate the firm in relation to the Global Business environment. Understand reasons for international trade, exchange rates, international trade policies, multinational enterprises and outsourcing
- Characterize the basic macroeconomic environment relevant to firms.
- Understand the main determinants of the different components of aggregate demand.
- Understand the possible impacts of monetary and fiscal policy for firms.
Content
Course Outline
- Demand, Supply and Elasticity
- Demand Estimation and Consumer Choice
- Firm's Production Process, Technology and Costs
- Market Structure and Simple Pricing Strategies
- Strategic Pricing
- Oligopoly, Game Theory and Business Strategy
- Information, Government and Business
- Global Business and Macroeconomics
Coursework
Coursework details:
2000 word count essay.
Booklists
Course textbook:
Perloff, Jeffrey M. and Brander, James A. Managerial Economics and Strategy. Second edition: Global edition. Harlow: Pearson, [2019].
Examination Guidelines
Please refer to Form & conduct of the examinations.
UK-SPEC
This syllabus contributes to the following areas of the UK-SPEC standard:
Toggle display of UK-SPEC areas.
GT1
Develop transferable skills that will be of value in a wide range of situations. These are exemplified by the Qualifications and Curriculum Authority Higher Level Key Skills and include problem solving, communication, and working with others, as well as the effective use of general IT facilities and information retrieval skills. They also include planning self-learning and improving performance, as the foundation for lifelong learning/CPD.
IA1
Apply appropriate quantitative science and engineering tools to the analysis of problems.
KU1
Demonstrate knowledge and understanding of essential facts, concepts, theories and principles of their engineering discipline, and its underpinning science and mathematics.
KU2
Have an appreciation of the wider multidisciplinary engineering context and its underlying principles.
S1
The ability to make general evaluations of commercial risks through some understanding of the basis of such risks.
US1
A comprehensive understanding of the scientific principles of own specialisation and related disciplines.
Last modified: 04/06/2025 13:19
Engineering Tripos Part IIA, 3E1: Business Economics, 2024-25
Module Leader
Lecturer
Lab Leader
Timing and Structure
Mich term. 16 lectures and coursework.
Aims
The aims of the course are to:
- Introduce students to the use of economics to understand the operation and decisions of businesses, their industrial environment and the macroeconomy.
Objectives
As specific objectives, by the end of the course students should be able to:
- Understand and be able to work with the basic theory of demand and supply and market equilibrium. Apply supply and demand analysis as a qualitative forecasting tool to explain the effects of interventions in competitive markets.
- Understand how market forces, including but not limited to consumer expectations, rivals actions, and internal cost structures, affect optimal decisions pertaining price and production targets.
- Understand different forms of market structure, including perfect competition, monopoly and oligopoly.
- Apply game theory to managerial decision making under strategic settings.
- Assess and evaluate different pricing strategies based on their effectiveness at achieving stated goals of the firm and their impact on the economy.
- Understand the sources and consequences of information asymmetry on markets and identify strategies for mitigating the problems.
- Understand the concepts of market failure, externalities and public goods, and the policies a government might use to deal with them.
- Situate the firm in relation to the Global Business environment. Understand reasons for international trade, exchange rates, international trade policies, multinational enterprises and outsourcing
- Characterize the basic macroeconomic environment relevant to firms.
- Understand the main determinants of the different components of aggregate demand.
- Understand the possible impacts of monetary and fiscal policy for firms.
Content
Course Outline
- Demand, Supply and Elasticity
- Demand Estimation and Consumer Choice
- Firm's Production Process, Technology and Costs
- Market Structure and Simple Pricing Strategies
- Strategic Pricing
- Oligopoly, Game Theory and Business Strategy
- Information, Government and Business
- Global Business and Macroeconomics
Coursework
Coursework details:
2000 word count essay.
Booklists
Course textbook:
Perloff, Jeffrey M. and Brander, James A. Managerial Economics and Strategy. Second edition: Global edition. Harlow: Pearson, [2019].
Examination Guidelines
Please refer to Form & conduct of the examinations.
UK-SPEC
This syllabus contributes to the following areas of the UK-SPEC standard:
Toggle display of UK-SPEC areas.
GT1
Develop transferable skills that will be of value in a wide range of situations. These are exemplified by the Qualifications and Curriculum Authority Higher Level Key Skills and include problem solving, communication, and working with others, as well as the effective use of general IT facilities and information retrieval skills. They also include planning self-learning and improving performance, as the foundation for lifelong learning/CPD.
IA1
Apply appropriate quantitative science and engineering tools to the analysis of problems.
KU1
Demonstrate knowledge and understanding of essential facts, concepts, theories and principles of their engineering discipline, and its underpinning science and mathematics.
KU2
Have an appreciation of the wider multidisciplinary engineering context and its underlying principles.
S1
The ability to make general evaluations of commercial risks through some understanding of the basis of such risks.
US1
A comprehensive understanding of the scientific principles of own specialisation and related disciplines.
Last modified: 31/05/2024 09:53
Engineering Tripos Part IIA, 3E1: Business Economics, 2023-24
Module Leader
Lecturer
Lab Leader
Timing and Structure
Mich term. 16 lectures and coursework.
Aims
The aims of the course are to:
- Introduce students to the use of economics to understand the operation and decisions of businesses, their industrial environment and the macroeconomy.
Objectives
As specific objectives, by the end of the course students should be able to:
- Understand and be able to work with the basic theory of demand and supply and market equilibrium. Apply supply and demand analysis as a qualitative forecasting tool to explain the effects of interventions in competitive markets.
- Understand how market forces, including but not limited to consumer expectations, rivals actions, and internal cost structures, affect optimal decisions pertaining price and production targets.
- Understand different forms of market structure, including perfect competition, monopoly and oligopoly.
- Apply game theory to managerial decision making under strategic settings.
- Assess and evaluate different pricing strategies based on their effectiveness at achieving stated goals of the firm and their impact on the economy.
- Understand the sources and consequences of information asymmetry on markets and identify strategies for mitigating the problems.
- Understand the concepts of market failure, externalities and public goods, and the policies a government might use to deal with them.
- Situate the firm in relation to the Global Business environment. Understand reasons for international trade, exchange rates, international trade policies, multinational enterprises and outsourcing
- Characterize the basic macroeconomic environment relevant to firms.
- Understand the main determinants of the different components of aggregate demand.
- Understand the possible impacts of monetary and fiscal policy for firms.
Content
Course Outline
- Demand, Supply and Elasticity
- Demand Estimation and Consumer Choice
- Firm's Production Process, Technology and Costs
- Market Structure and Simple Pricing Strategies
- Strategic Pricing
- Oligopoly, Game Theory and Business Strategy
- Information, Government and Business
- Global Business and Macroeconomics
Coursework
Coursework details:
2000 word count essay.
Booklists
Course textbook:
Perloff, Jeffrey M. and Brander, James A. Managerial Economics and Strategy. Second edition: Global edition. Harlow: Pearson, [2019].
Examination Guidelines
Please refer to Form & conduct of the examinations.
UK-SPEC
This syllabus contributes to the following areas of the UK-SPEC standard:
Toggle display of UK-SPEC areas.
GT1
Develop transferable skills that will be of value in a wide range of situations. These are exemplified by the Qualifications and Curriculum Authority Higher Level Key Skills and include problem solving, communication, and working with others, as well as the effective use of general IT facilities and information retrieval skills. They also include planning self-learning and improving performance, as the foundation for lifelong learning/CPD.
IA1
Apply appropriate quantitative science and engineering tools to the analysis of problems.
KU1
Demonstrate knowledge and understanding of essential facts, concepts, theories and principles of their engineering discipline, and its underpinning science and mathematics.
KU2
Have an appreciation of the wider multidisciplinary engineering context and its underlying principles.
S1
The ability to make general evaluations of commercial risks through some understanding of the basis of such risks.
US1
A comprehensive understanding of the scientific principles of own specialisation and related disciplines.
Last modified: 30/05/2023 15:21
Engineering Tripos Part IIA, 3E1: Business Economics, 2022-23
Module Leader
Lecturer
Lab Leader
Timing and Structure
Mich term. 16 lectures and coursework.
Aims
The aims of the course are to:
- Introduce students to the use of economics to understand the operation and decisions of businesses, their industrial environment and the macroeconomy.
Objectives
As specific objectives, by the end of the course students should be able to:
- Understand and be able to work with the basic theory of demand and supply and market equilibrium. Apply supply and demand analysis as a qualitative forecasting tool to explain the effects of interventions in competitive markets.
- Understand how market forces, including but not limited to consumer expectations, rivals actions, and internal cost structures, affect optimal decisions pertaining price and production targets.
- Understand different forms of market structure, including perfect competition, monopoly and oligopoly.
- Apply game theory to managerial decision making under strategic settings.
- Assess and evaluate different pricing strategies based on their effectiveness at achieving stated goals of the firm and their impact on the economy.
- Understand the sources and consequences of information asymmetry on markets and identify strategies for mitigating the problems.
- Understand the concepts of market failure, externalities and public goods, and the policies a government might use to deal with them.
- Situate the firm in relation to the Global Business environment. Understand reasons for international trade, exchange rates, international trade policies, multinational enterprises and outsourcing
- Characterize the basic macroeconomic environment relevant to firms.
- Understand the main determinants of the different components of aggregate demand.
- Understand the possible impacts of monetary and fiscal policy for firms.
Content
Course Outline
- Demand, Supply and Elasticity
- Demand Estimation and Consumer Choice
- Firm's Production Process, Technology and Costs
- Market Structure and Simple Pricing Strategies
- Strategic Pricing
- Oligopoly, Game Theory and Business Strategy
- Information, Government and Business
- Global Business and Macroeconomics
Coursework
Coursework details:
2000 word count essay.
Booklists
Course textbook:
Perloff, Jeffrey M. and Brander, James A. Managerial Economics and Strategy. Second edition: Global edition. Harlow: Pearson, [2019].
Examination Guidelines
Please refer to Form & conduct of the examinations.
UK-SPEC
This syllabus contributes to the following areas of the UK-SPEC standard:
Toggle display of UK-SPEC areas.
GT1
Develop transferable skills that will be of value in a wide range of situations. These are exemplified by the Qualifications and Curriculum Authority Higher Level Key Skills and include problem solving, communication, and working with others, as well as the effective use of general IT facilities and information retrieval skills. They also include planning self-learning and improving performance, as the foundation for lifelong learning/CPD.
IA1
Apply appropriate quantitative science and engineering tools to the analysis of problems.
KU1
Demonstrate knowledge and understanding of essential facts, concepts, theories and principles of their engineering discipline, and its underpinning science and mathematics.
KU2
Have an appreciation of the wider multidisciplinary engineering context and its underlying principles.
S1
The ability to make general evaluations of commercial risks through some understanding of the basis of such risks.
US1
A comprehensive understanding of the scientific principles of own specialisation and related disciplines.
Last modified: 24/05/2022 12:57
Engineering Tripos Part IIA, 3E1: Business Economics, 2021-22
Module Leader
Lecturer
Lab Leader
Timing and Structure
Lent term. 16 lectures and coursework.
Aims
The aims of the course are to:
- Introduce students to the use of economics to understand the operation and decisions of businesses, their industrial environment and the macroeconomy.
Objectives
As specific objectives, by the end of the course students should be able to:
- Understand and be able to work with the basic theory of demand and supply and market equilibrium. Apply supply and demand analysis as a qualitative forecasting tool to explain the effects of interventions in competitive markets.
- Understand how market forces, including but not limited to consumer expectations, rivals actions, and internal cost structures, affect optimal decisions pertaining price and production targets.
- Understand different forms of market structure, including perfect competition, monopoly and oligopoly.
- Apply game theory to managerial decision making under strategic settings.
- Assess and evaluate different pricing strategies based on their effectiveness at achieving stated goals of the firm and their impact on the economy.
- Understand the sources and consequences of information asymmetry on markets and identify strategies for mitigating the problems.
- Understand the concepts of market failure, externalities and public goods, and the policies a government might use to deal with them.
- Situate the firm in relation to the Global Business environment. Understand reasons for international trade, exchange rates, international trade policies, multinational enterprises and outsourcing
- Characterize the basic macroeconomic environment relevant to firms.
- Understand the main determinants of the different components of aggregate demand.
- Understand the possible impacts of monetary and fiscal policy for firms.
Content
Course Outline
- Demand, Supply and Elasticity
- Demand Estimation and Consumer Choice
- Firm's Production Process, Technology and Costs
- Market Structure and Simple Pricing Strategies
- Strategic Pricing
- Oligopoly, Game Theory and Business Strategy
- Information, Government and Business
- Global Business and Macroeconomics
Coursework
Coursework details:
2000 word count essay.
Booklists
Course textbook:
Perloff, Jeffrey M. and Brander, James A. Managerial Economics and Strategy. Second edition: Global edition. Harlow: Pearson, [2019].
Examination Guidelines
Please refer to Form & conduct of the examinations.
UK-SPEC
This syllabus contributes to the following areas of the UK-SPEC standard:
Toggle display of UK-SPEC areas.
GT1
Develop transferable skills that will be of value in a wide range of situations. These are exemplified by the Qualifications and Curriculum Authority Higher Level Key Skills and include problem solving, communication, and working with others, as well as the effective use of general IT facilities and information retrieval skills. They also include planning self-learning and improving performance, as the foundation for lifelong learning/CPD.
IA1
Apply appropriate quantitative science and engineering tools to the analysis of problems.
KU1
Demonstrate knowledge and understanding of essential facts, concepts, theories and principles of their engineering discipline, and its underpinning science and mathematics.
KU2
Have an appreciation of the wider multidisciplinary engineering context and its underlying principles.
S1
The ability to make general evaluations of commercial risks through some understanding of the basis of such risks.
US1
A comprehensive understanding of the scientific principles of own specialisation and related disciplines.
Last modified: 27/07/2021 16:12
Engineering Tripos Part IIA, 3E1: Business Economics, 2020-21
Module Leader
Lecturer
Prof. M.G. Pollitt
Lab Leader
Timing and Structure
Lent term. 16 lectures and coursework.
Aims
The aims of the course are to:
- Introduce students to the use of economics to understand the operation and decisions of businesses, their industrial environment and the macroeconomy.
Objectives
As specific objectives, by the end of the course students should be able to:
- Understand and be able to work with the basic theory of demand and supply and market equilibrium.
- Understand the theory of the firm, including the various types of costs that the firm faces, the idea of profit maximisation and the equilibrium of the firm.
- Understand different forms of market structure, including perfect competition, monopoly and oligopoly.
- Understand simple game theory and how it can be used in economic analysis.
- Understanding pricing of products and of inputs.
- Understand the concepts of market failure, externalities and public goods, and the policies a government might use to deal with them.
- Understand trade theory and strategic trade policy.
- Understand national income accounting and the standard Keynesian macroeconomic model.
- Understand the main determinants of the different components of aggregate demand.
- Understand the possible impacts of monetary and fiscal policy.
Content
Microeconomics (10L)
An Introduction to Economic Reasoning
Supply, Demand and Equilibria
Profit maximisation and Economic Optimisation
Consumers and Producers
Perfect Competition and Monopoly
Economics of Firm Strategy 1
Economics of Firm Strategy 2
Economics of Firm Strategy 3
Pricing Strategy
Labour Markets
Government Policy, International Economics and Macroeconomics (6L)
Environmental Policy
Transport Policy, Public Goods, Public Ownership
Trade Theory
Trade Policy
Macroeconomics: The Macroeconomy
Macroeconomics: Fiscal and Monetary Policy
Coursework
Coursework details:
2000 word essay on topic to be discussed.
Booklists
Course textbook:
Sloman, J., Garratt, D., Guest, J. and Jones, E. (2019), Economics for Business. 8th ed. Pearson.
Examination Guidelines
Please refer to Form & conduct of the examinations.
UK-SPEC
This syllabus contributes to the following areas of the UK-SPEC standard:
Toggle display of UK-SPEC areas.
GT1
Develop transferable skills that will be of value in a wide range of situations. These are exemplified by the Qualifications and Curriculum Authority Higher Level Key Skills and include problem solving, communication, and working with others, as well as the effective use of general IT facilities and information retrieval skills. They also include planning self-learning and improving performance, as the foundation for lifelong learning/CPD.
IA1
Apply appropriate quantitative science and engineering tools to the analysis of problems.
KU1
Demonstrate knowledge and understanding of essential facts, concepts, theories and principles of their engineering discipline, and its underpinning science and mathematics.
KU2
Have an appreciation of the wider multidisciplinary engineering context and its underlying principles.
S1
The ability to make general evaluations of commercial risks through some understanding of the basis of such risks.
US1
A comprehensive understanding of the scientific principles of own specialisation and related disciplines.
Last modified: 11/01/2021 19:40
Engineering Tripos Part IIA, 3E1: Business Economics, 2019-20
Module Leader
Lecturer
Dr F. Schneider
Lab Leader
Timing and Structure
Michaelmas term. 16 lectures and coursework.
Aims
The aims of the course are to:
- Introduce students to the use of economics to understand the operation and decisions of businesses, their industrial environment and the macroeconomy.
Objectives
As specific objectives, by the end of the course students should be able to:
- Understand and be able to work with the basic theory of demand and supply and market equilibrium.
- Understand the theory of the rational consumer and the derivation of individual and market demand curves.
- Understand the theory of the firm, including the various types of costs that the firm faces, the idea of profit maximisation and the equilibrium of the firm.
- Understand different forms of market structure, including perfect competition, monopoly and oligopoly.
- Understand simple game theory.
- Understand the arguments for the efficiency of markets and the assumptions on which these arguments depend.
- Understand the concepts of market failure, externalities and public goods, and the policies a government might use to deal with them.
- Understand national income accounting and the standard Keynesian macroeconomic model.
- Understand the main determinants of the different components of aggregate demand.
- Understand the possible impacts of monetary and fiscal policy.
- Appreciate the possible relationships between inflation and unemployment.
- Understand the relationship between exchange rates and the balance of payments.
- Appreciate some of the basic explanations of economic growth.
- Understand many of the arguments for and against a single European currency.
Content
Microeconomics (8L)
- Markets: The supply and demand framework.
- Understanding demand: The theory of the consumer.
- Understanding supply: The theory of the firm and different market structures.
- Strategic interaction: Game theory.
- Welfare Economics: The pareto criterion, market failure and the role of government.
Macroeconomics (8L)
- Conceptualising the macroeconomy.
- National income determination: consumption, saving and investment.
- National income determination: the government sector.
- National income determination: the foreign sector.
- Inflation and Unemployment.
- The balance of payments and exchange rates.
- Economic growth.
- Europe and the Euro.
Coursework
Coursework details (as discussed in class)
- Essay of about 3-4 pages
- Propose a well-defined market of your choice (e.g., minivans, apple cider, mobile phone providers)
Booklists
Please see the Booklist for Part IIA Courses for references for this module.
Examination Guidelines
Please refer to Form & conduct of the examinations.
UK-SPEC
This syllabus contributes to the following areas of the UK-SPEC standard:
Toggle display of UK-SPEC areas.
GT1
Develop transferable skills that will be of value in a wide range of situations. These are exemplified by the Qualifications and Curriculum Authority Higher Level Key Skills and include problem solving, communication, and working with others, as well as the effective use of general IT facilities and information retrieval skills. They also include planning self-learning and improving performance, as the foundation for lifelong learning/CPD.
IA1
Apply appropriate quantitative science and engineering tools to the analysis of problems.
KU1
Demonstrate knowledge and understanding of essential facts, concepts, theories and principles of their engineering discipline, and its underpinning science and mathematics.
KU2
Have an appreciation of the wider multidisciplinary engineering context and its underlying principles.
S1
The ability to make general evaluations of commercial risks through some understanding of the basis of such risks.
US1
A comprehensive understanding of the scientific principles of own specialisation and related disciplines.
Last modified: 27/11/2019 11:45
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