Undergraduate - UnitECF2931 - Managerial economics

This unit entry is for students who completed this unit in 2013 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.

print version

6 points, SCA Band 3, 0.125 EFTSL

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Level	Undergraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Economics
Offered	Berwick First semester 2013 (Day)
Coordinator(s)	Mr Julio Mancuso Tradenta

Synopsis

This unit adopts the quantitative method in teaching contemporary microeconomic principles in the context most relevant to business people. Market processes, demand patterns and estimation, cost structures and estimation, market conditions and measurement, pricing policies and implementation, and the impact of regulation on business decisions are discussed. Cases and problems illustrate how economic concepts can be applied to specific industries. The unit is designed to assist students in understanding the quantitative application of economic analysis to the problems of formulating rational managerial decisions, corporate and marketing strategies.

Outcomes

The learning goals associated with this unit are to:

understand and recognise the various processes involved in business decision making, including the macroeconomic constraints which affect these processes
understand and explain the estimation of demand and supply conditions in an industry
understand and analyse firms' pricing and non-pricing strategies and their quantitative implications on profitability
recognise and evaluate the various theories of the organisation known as the theory of the firm and the role of managers in such organisations
develop an understanding of strategic games in the use of business applications
understand the quantitative implications of the interactions of government policies and business decisions.