ECW2731

Managerial economics

(BUS)

Dr Gennadi Kazakevitch

6 points + 3 hours per week (2-hour lecture, 1-hour tutorial) and 9 hours of independent study, Berwick, Gippsland, Peninsula + First semester + OCDL: approximately 12 hours per week + Prerequisite: ECW1101

Synopsis: This subject reviews the contemporary microeconomic principles in the context most relevant to business people. Market processes, demand patterns, cost structures, market conditions, pricing policies, and the impact of regulation on business decisions are discussed. Cases and problems from the prescribed text, Australian media, and on-line resources illustrate how economic concepts can be applied to specific industries. Analytical techniques and quantitative tools link the concepts to measurement and managerial decision-making.

Assessment: Major essay (4000 words): 40% + Examination (2 hours): 60%