Undergraduate - UnitECW2731 - Managerial economics

This unit entry is for students who completed this unit in 2012 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered, or view unit timetables.

Level	Undergraduate
Faculty	Faculty of Business and Economics
Offered	Berwick Second semester 2012 (Day) Gippsland Second semester 2012 (Day) Sunway Second semester 2012 (Day) South Africa Second semester 2012 (Day)
Coordinator(s)	Associate Professor He-Ling Shi

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 online 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.

Outcomes

The learning goals associated with this unit are to:

understand how do markets work
understand how do customers value products
understand which production and cost measures are relevant for decision making
understand how does competition affect business decisions on investment, production, and pricing in different market structures
understand how important to managerial and marketing decisions are changes in foreign exchange rates, technology, incomes, government regulations, sources of energy, the balance of payments.

Assessment

Within semester assessment: 30%
Examination (2 hours): 70%

Chief examiner(s)

Associate Professor He-Ling Shi

Contact hours

3 hours per week

Prerequisites

Students must have passed ECG1101 or ECW1101 before undertaking this unit.

Prohibitions

ECG2731, ECF2731