Managerial Economics
Duration
- One Semester or equivalent
Contact hours
- 36 hours face to face + blended
On-campus unit delivery combines face-to-face and digital learning.
Aims and objectives
This unit provides the core concepts of price theory and microeconomics for professional managers. As understanding economic principles is an essential skill for competitive advantage, this unit provides students with the knowledge of rational micro- and macro- frameworks that are necessary for understanding how the economy works and the rationale for government intervention.
Unit Learning Outcomes (ULO)
Students who successfully complete this unit will be able to:
2. Critically analyse economic policy to solve contemporary business problems
3. Apply economic principles to analyse and interpret a range of economic and policy outcomes to find solutions for real world business problems
4. Apply micro- and macro- economic frameworks and to facilitate decision making and resource allocation
Unit information in detail
- Teaching methods, assessment and content.
Teaching methods
Hawthorn
Type | Hours per week | Number of Weeks | Total |
On Campus Class Block Teaching | 3 | 12 | 36 |
Unspecified Activities Independent Learning | 9.5 | 12 | 114 |
TOTAL | 150 hours |
Assessment
Types | Individual/Group Role | Weighting | Unit Learning Outcomes (ULOs) |
Assignment 1 | Individual | 30-40% | 1,2,3,4,5 |
| Assignment 2 | Individual | 15-25% | 1,2,3,4,5 |
| Presentation | Individual | 10-20% | 1,2,3,4,5 |
| Test | Individual | 30-50% | 1,2 |
Content
- Price Theory analysis
- Resource allocation
- Theory of the firm, competition and regulatory frameworks in different markets
- Economic Value
- Government policy and government
Study resources
- Reading materials.
Reading materials
Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.