Award in Microeconomics
Course Reference: M2.6 ME
Focus: Business and Management
This course focuses on microeconomic analysis and decision-making theory, touching on concepts such as scarcity, allocation of resources, demand and supply, elasticity and marginal utility. The concepts are then used to explain and analyse market structures, including perfect competition and monopoly. Other topics covered include cost-benefit, opportunity cost, externalities and market failures. The topic requires the use of some mathematical concepts and graphs.
Our tutors have excellent experience within their field of expertise as well as the necessary academic background. You will receive a high-quality delivery in a participative environment. You will be engaged in discussions, activities, case studies, presentations and group work creating a bond between you and other students that forges friendships and a new network of professionals.
There are no exams on this programme. The method of assessment to attain this award is based on different methods such as preparing a portfolio of work, building a reflective journal, writing an assignment, and others. The assignment brief is available to you in good time so that you can organise and plan your study time accordingly week by week. You will be guided through the assessment requirements, and you will also receive ongoing feedback throughout the course of studies.
Delivery of sessions are held in the evenings (typically starting at 17:30 hours) on different weekdays and according to the timetable of the modules. There is also the possibility of a few Saturday morning sessions.
Opportunities for further studies
Upon successful completion of this Award, you can:
- Take up the opportunity to follow other Awards in different areas of business and management, or
- Follow the Certificate in Business and Management (30 ECTS), and
- This Certificate programme will also lead you to further studies.
This award is designed for:
- Adult learners who want to have an immersive learning experience in this area.
- Working professionals, who have been working for a number of years, and who would like to acquire competencies, knowledge and skills in this area of business and management.
- Prospective learners, who already have a Level 4 and/or a Level 5 qualification, and who would like to challenge themselves within this area of business and management, to further develop their expertise.
The entry requirements are:
- Three MQF/EQF Level 4 individual single subject qualifications and at least 18 years of age.
- One MQF/EQF Level 4 qualification of at least 120 ECTS, or equivalent and at least 18 years of age.
- A minimum of 2 years of relevant work experience and at least 24 years of age.
- The MATSEC Matriculation Certificate. This comprises 6 subjects, and include passes in a language, a science subject, a humanistic subject, and a pass in the subject ‘Systems of Knowledge’. Two of the 6 subjects must be at an Advanced Level, three of the subjects must be at an Intermediate Level and a pass at the ‘Systems of Knowledge’ subject.
- A pass (at least Grade 5 of better) in the Secondary Education Certificate examinations in the following subjects: English language, Mathematics, and one other subject.
Other equivalent (international) qualifications will be considered on a case-by-case basis.
All learners must have proficiency in the English language (evidence of use of the English language at work, 0-level pass in the English language, English as the national language or mother tongue, or other equivalent foreign qualifications equating to Common European Framework (at B2), such as IELTS (overall score of 6.0 with no element less than 5.5), Cambridge English (overall score of 169 with minimum scores of 162), TOEFL (at 72) and others).
- Apply principles of economics accurately and appropriately to inform business decision-making
- Assess and analyse economic indicators such as GDP (Gross Domestic Product) and CPI (Consumer Price Index)
- Demonstrate the measurement of individual demand, supply and market demand
- Analyse factors which impact demand sensitivity and price elasticity
- The understanding and role of scarcity, specialization, opportunity cost and cost/benefit analysis in economic decision-making
- The concepts of absolute and comparative advantages
- The properties of different markets (local market, international market, short period market, unregulated market) and market types (financial market, product market)
- Differences between positive and negative externalities
Applying knowledge and understanding
- Accurately interpret the law of demand and how equilibrium price and quantity are determined
- Apply the measurement of demand and supply sensitivity or elasticity relative to changes in price, income, and price of substitute goods
- Synthesize the relationship between the measurement of utility or satisfaction and its relationship to the law of demand
- Formulate solutions to issues of market failure and government failure
Judgement skills and critical abilities
- Determine the factors of production and production possibilities
- Define and categorise markets and list market types
- Differentiate different markets based on their individual properties
Module specific communication skills
- Use relevant and appropriate terminology when discussing and exchanging views in a business context
- Communicate and articulate their ideas clearly in writing and orally
Module specific learner skills
- Appropriately and accurately apply the Harvard referencing system
- Acknowledge all sources of information
- Individually carry out further research in this area
|Accreditation Status||Approved Local Higher Education Programme|
|Level of Qualification||MQF / EQF Level 5|
|Mode of Delivery||Traditional / Face-to-Face Learning|
|Hours of Learning||Contact Hours: 20 / Self-Study Hours: 62 / Assessment Hours: 18 / Total Hours: 100|
|Study mode||Work based programme delivered in the evenings and some Saturdays.|
|Language of instruction||English|
|Programme Delivered||Malta Business School, Level 3, Sean Building, Psaila Street Birkirara BKR1908, Malta|
|Mode of assessment||Assessed pieces of work (no exam)|
|Teaching and Learning Approach||At MBS our teaching and learning approach is based on adult learning principles and is unreservedly participant centred and experiential in nature. Participants are expected to contribute in group work and discussions and actively participate during sessions.|
|Grading System as approved by MFHEA||Fail, Pass, Merit and Distinction|
|Date of Next Intake||To be announced|
|Registration||Send us your CV for review and without obligation so that we can check your eligibility for this programme.|
|Visa Requirements||Third Country Nationals are advised to read VISA requirements from here|
|Progression Pathways||Successful learners who achieve this Award might want to join the Certificate in Business and Management programme, the Diploma in Business and Management programme, the Higher Diploma in Business and Management programme, and the Bachelor in Business and Management programme. Talk to us so that we will guide you accordingly.|
Terms & Conditions apply, talk to us for further detail on this programme.