Undergraduate - UnitECB2731 - Managerial economics

This unit entry is for students who completed this unit in 2015 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.

Level	Undergraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Economics
Offered	Berwick Second semester 2015 (Day)
Coordinator(s)	Dr Vinod Mishra

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

Assessment

Within semester assessment: 40%
Examination: 60%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

Chief examiner(s)

Dr Vinod Mishra

Prerequisites

Students must have passed one of the following before undertaking this unit: ECB1101 or ECF1100 or ECG1101 or ECS1101 or ECW1101.

Prohibitions

ECF2931, ECG2731, ECF2731, ECS2731, ECW2731