| Course Unit Title | PRINCIPLES OF MANAGEMENT AND ECONOMICS IN PHARMACEUTICAL BUSINESS |
| Course Unit Code | PHA505 |
| Course Unit Details | |
| Number of ECTS credits allocated | 5 |
| | Learning Outcomes of the course unit | By the end of the course, the students should be able to:- Outline the basic principles of management in the health care and pharmaceutical business.
- Identify the general management, marketing, financing and economics of the mentioned institutions.
- Justify the importance of the organisational behaviour and leadership, the managing teams, strategy of marketing and production management, finance and accounting.
- Demonstrate honesty, integrity, professionalism and personal responsibility in response to a changing environment.
- Outline the basic principles of economics related to drugs, cosmetics and health care products and institution.
|
| Mode of Delivery | Face-to-face |
| Prerequisites | NONE | Co-requisites | NONE |
| Recommended optional program components | NONE |
| Course Contents | General Management issues
· Organisational behaviour
· Leadership
· Managing teams
Marketing in the healthcare and pharmaceutical industry
· Marketing in the Health Service Sector
· Marketing planning
· Marketing research
· The marketing environment
· Understanding users of Health Services (consumer behaviour)
· Developing the marketing mix in the context of the pharmaceutical industry
· Building customer relationships
Economic principles
· Economic problem of scarcity
· Opportunity cost
· Market Systems
· Theory of demand and supply
· Theory of utility
· Theory of Elasticity
· The law of diminishing returns/ returns to scale
· Perfect and imperfect markets
· Types of costs
· Monopoly, oligopoly, monopolistic competition
· Measuring economic activity
· Contemporary economic problems
|
| Recommended and/or required reading: |
| Textbooks | - Thomas, R. K. (2008) Health Services Marketing. New York: Springer Kotler, P. and Arnstrong, G. (2012) ‘Principles of Marketing’, 14th edition. Boston, Pearson Education.
- Violaris, I. (2008) Economics, a Bilingual Approach. Nicosia: Epiphaniou
|
| References | - Armstrong, G. and Kotler, P. (2008) ‘Principles of Marketing’, 12th edition. New York Prentice Hall.
- Kayne, S.B. (2006) Pharmacy business management. Pharmaceutical Press.
- Violaris, I. (2008) Economics, a Bilingual Approach. Nicosia: Epiphaniou.
- Armstrong, G. and Kotler. A (2007) Marketing an Introduction. New Jersey: Prentice Hall
- Chisholm-Burns, Vaillancourt, A.M. and Shepherd, M. (2010) Pharmacy Management, Leadership, Marketing and Finance. Jones & Bartlett Publishers
- Jobber, D. (2010) Principles and Practice of Marketing. London: McGraw Hill
|
| Planned learning activities and teaching methods | Lectures supported by power point presentations, seminars, case studies and learning based on group discussions and problem solving exercises. Were relevant classes will be supported with the use of video material to demonstrate the application of various concepts and visits in various pharmaceutical related organisations. |
| Assessment methods and criteria | | Coursework | 40% | | Final Exam | 60% |
|
| Language of instruction | English |
| Work placement(s) | NO |
