BUSN9116 Economics for Business

Dr Erkan Yalcin

2011

4.5

1 x 3-hour workshop weekly

1 of BUSN9104, BUSN9146 has been successfully completed

This topic is a core topic for Masters level programs in business or more specialised programs wishing to include a business studies component.

Master of Accounting

This topic introduces the economic principles that can usefully guide the decision-making processes of consumers, businesses and other organisations including purchasing, pricing, production and investment decisions. It considers these decision processes in different competitive market environments.

The topic also introduces the workings of the overall economy. It focuses on national output and expenditure, inflation, unemployment and international economic relationships including trade and capital flows and the role of fiscal and monetary policies.

This topic aims to outline economic principles that guide the decision-making processes of consumers, businesses and organisations. Students will examine purchasing, pricing, production and investment decisions, drivers of the economy, and competitive market environments.

Students successfully completing this topic should:

have developed good economic analytical skills
appreciate the concept of opportunity cost in decision-making
be able to explain the determinants of supply and demand and market pricing
be able to compare the different types of competitive markets and how the nature of these markets influences the production and pricing decisions and sales outcomes of individual oganisations
be familiar with the broad structure of the national account
be able to discuss the factors that influence the level and growth of economic output, inflation and employment
be able to discuss the ways in which the government attempts to influence the level of employment and inflation through the use of fiscal and monetary policies
appreciate the significance of the overseas sector on the local economy

Key dates and timetable

Timetable details for 2011 are no longer published.

This information is from current details held on the Student Information System. Please report any errors or omissions to the relevant College Office.