Microeconomics for managers
Lecturers to be advised
6 points
* One 3-hour session per week
* First, second semester
* Clayton, city
Objectives To develop an understanding of the basic principles of rational behaviour by economic agents, and of resource allocation in a market exchange economy. On completion of this subject students should have an appreciation of how microeconomic principles can be brought to bear to assess key economic issues of interest to managers in both the private and public sectors.
Synopsis Topics include demand, supply and market analysis; cost concepts; price determination and pricing practices under various market structures; monopoly and imperfect competition; surpluses and economic rents; economic and technical efficiency; market structure, conduct and performance, economic regulation; externalities; microeconomic reform.
Assessment Mid-semester quiz (1 hour): 20%
* Examination (2 hours):
80%
Prescribed texts
Mansfield E Managerial economics: Theory, applications, and cases 2nd edn, Norton, 1993
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