Economics for Business Decision Making

ECO10005 12.5 Credit Points Hawthorn, Online, Sarawak

Duration

  • One Semester or equivalent

Contact hours

  • 24 hours face to face + blended

On-campus unit delivery combines face-to-face and digital learning. For Online unit delivery, learning is conducted exclusively online.

2023 teaching periods

Hawthorn

Higher Ed. Semester 2

Dates:
31 Jul 23 - 29 Oct 23

Results:
5 Dec 23

Last self enrolment:
13 Aug 23

Census:
31 Aug 23

Last withdraw without fail:
15 Sep 23
More teaching periods
Swinburne Online

Teaching Period 3

Dates:
6 Nov 23 - 11 Feb 24

Results:
5 Mar 24

Last self enrolment:
19 Nov 23

Census:
1 Dec 23

Last withdraw without fail:
29 Dec 23

Aims and objectives

This unit replaces ECO10004 from 2023.
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.

Unit Learning Outcomes (ULO)
Students who successfully complete this unit should be able to:
 
1. Identify economic indicators and models to understand and analyse real-world situations.
2. Apply economic concepts and frameworks to understand, explain and evaluate decision-making by individuals, firms and government.
3. Use analytical skills to address problematised industry and government issues in the context of today’s changing technological landscape.
4. 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.
5. Explain contemporary economic issues and determine the optimal responses to stabilise macroeconomic fluctuations.