Undergraduate - UnitECG2731 - 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

To find units available for enrolment in the current year, you must make sure you use the indexes and browse unit tool in the current edition of the Handbook.

Level	Undergraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Economics
Offered	Gippsland Second semester 2013 (Day) Gippsland Second semester 2013 (Off-campus)
Coordinator(s)	Dr Svetlana Maslyuk

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
demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered in this unit.