Course: Business Economics
Course Code: ECON6001
Credit Hours: 3
This course is intended to enhance students’ understanding of fundamental economic principles, in order for them to use these principles to guide managerial decision-making. Critical issues such as supply, demand, markets, pricing practices and strategy in contestable markets are discussed. The course explores the impact of the macro environment on the profitability and success of an organisation. The course emphasises the idea that business success is enhanced by an appreciation of the global business economic environment, including business cycles, socio-economic trends, various factors, and industry-specific characteristics.
This course consists of micro- and macro-economic analyses of consumers, firms, markets, business cycles, and policy formation from a managerial perspective. It examines the attributes and behaviour of key units comprising the economy - consumers, markets, individual firms, and industries – as well as the nature, role, and the varied impact of policy-making and application on the macro economy.