ECO10005 Economics for Business Decision Making

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This unit aims to provide students with an introduction to microeconomic and macroeconomic theories and how these are applied practices. It seeks to bridge the gap between theory and practice in the context of today’s changing technological landscape by requiring students to apply analytical skills to address industry and government case studies such as: how prices and output are set by firms to maximise profit; how key macroeconomic indicators are employed to assess economic conditions by business decision-makers; and what ESG (environmental, social and governance) policies and best practices are available to deal with different types of market failures.

Students who successfully complete this unit will be able to:

  • Identify economic indicators and models to understand and analyse real-world situations.
  • Apply economic concepts and frameworks to understand, explain and evaluate decision-making by individuals, firms and government.
  • Use analytical skills to address problematised industry and government issues in the context of today’s changing technological landscape.
  • Analyse what ESG (environmental, social and governance) policies and best practices are available to private firms and government to deal with different types of market failures including externalities and public goods.
  • Explain contemporary economic issues and determine the optimal responses to stabilise macroeconomic fluctuations.


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