MBA9003 - Economics for managers

Leader: Dr George Rivers

Offered

Caulfield First semester 2007 (Evening)
Caulfield First semester 2007 (On-campus)
Caulfield Second semester 2007 (Evening)

Synopsis

Economics for managers is designed to introduce students to the methodology of microeconomics and the tools used by economists in problem solving. Topics to be considered include demand, supply and market analysis, cost concepts, price determination and pricing practices. The course aims to develop an understanding of the competitive environment facing firms through analysis of varying market structures (oligopoly, monopolistic competition etc). The knowledge gained will be applied to a range of microeconomic policy issues, including competition policy, regulation, microeconomic reform and privatisation.

Objectives

The learning goals associated with this unit are to:

• demonstrate a broad appreciation of economic concepts and theories, the methodology of microeconomics and basic macroeconomics and a knowledge of the tools used by economists in problem solving
• develop an understanding of the competitive environment facing firms by means of an analysis of the varying types of market competition (competitive markets, monopoly, monopolistic competition and oligopoly)
• further enhance communication, inter-personal, problem solving and critical thinking capabilities.

Assessment

Mid-semester test (2 hours): 15%
A syndicate report to be given in class: 10%
An essay (approximately 2500 words): 25%
Examination (2 hours): 50%

Contact hours

1 x 3 hour lecture per week

Prerequisites

Students must be enrolled in the MBA program.