Managerial Economics - ECON5110

   
   
 
Course Outline: ECON5110 Course Outline
 
 
Campus: Kensington Campus
 
 
Career: Postgraduate
 
 
Units of Credit: 6
 
 
EFTSL: 0.12500 (more info)
 
 
Indicative Contact Hours per Week: 3
 
 
Enrolment Requirements:
 
 
Prerequisite or Corequisite: COMM5002 or enrolment in programs 8415 or 8007.
 
 
CSS Contribution Charge:Band 3 (more info)
 
   
 
Further Information: See Class Timetable
 
 

Description


This course emphasises logic and conceptual modelling - reinforced by real life examples - to highlight the pivotal link between economics and key business concerns such as costs, prices, markets, organisational architecture and government. Using the tools of economics, students learn to weigh the strategic costs and benefits of each business choice. Building on demand and costs concepts, students will learn how the details of strategic interaction and market structure ( eg oligopoly, monopolistic competition) determine potential industry earnings and a firm's individual profitability. Students will then identify how firms can maintain their profitability through innovation, firm design, maintaining barriers to entry and product differentation, as well as understanding how firms can benefit from globalisation ( eg trade, exchange rates) and government tax and regulatory policies.