ECB2731 · Managerial economics

Overview

This unit explores key microeconomic principles essential for business decision-making, with a focus on the theory of firms. You will analyse cost structures, market conditions, pricing strategies, and strategic interactions between firms. Emphasis is placed on marginal analysis and the use of diagrams and calculus to optimise business performance. Real-world applications are integrated throughout, providing you with practical tools to navigate competitive business environments.

Offerings

Assessment

The Handbook lists an examination for this unit.

Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.

Requisites

Learning outcomes

1. apply methods of differentiation to examine economic relationships and determine optimal pricing and output decisions
2. analyse demand, cost structures, and market conditions to evaluate firm behaviour and strategy in competitive and non-competitive settings
3. apply game theory to analyse strategic interactions between firms, including competition and cooperation in oligopolistic markets
4. examine the role of risk and uncertainty in managerial decision-making.

Workload

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. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.

Student experience, not official rules. Nothing here changes what the Handbook says.