MBA5246 · Economic decision making

Overview

The economic lens for reasoning and decision-making in business is a critical understanding for practising executives and business leaders. In Economic Decision-Making / Managerial Economics, macroeconomic issues such as aggregate supply and demand, how the central bank influences interest rates, money supply, credit conditions and exchange rates to manage the economy, and issues of spending and production in the economy are critical. The microeconomics topics covered in the unit include concepts such as resource scarcity, economic choice, demand and supply analysis and the impact of the business environment on a firm’s profit-maximising strategies.

Offerings

The Handbook publishes no offerings for this unit.

Assessment

The Handbook publishes no assessment items for this unit yet.

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

Requisites

The Handbook lists no prerequisite, corequisite or prohibition for this unit.

Learning outcomes

1. evaluate the methodology and principles that underpin economic decision-making
2. analyse and apply the foundational understanding of both microeconomics and macroeconomics
3. formulate persuasive arguments and make informed decisions within the economic context.

Workload

Minimum total expected workload to achieve the learning outcomes for this unit is 153 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.