GSB 728 Economics for Management
Economics for Management is intended to provide students with a perspective in economic analysis relevant to managerial decision making. It contains analysis at both the micro (individual) and macro (society) levels.
There is no assumed knowledge to study the unit. It fundamentally attempts to provide students with the conceptual tools to understand economic decision making as it affects businesses. Students will be given a heightened understanding of the interaction of economic phenomena and levels of business activity.
The learning objectives of the unit are to understand:
- the nature of markets and why and how firms maximise profits;
- the factors which affect the level of activity in the economy as a whole, and the problems associated with regulating this level of activity;
- economics and business decision making, specifically the impacts on employment, investment and types of organisations.
The learning required in the course is mainly conceptual rather than the reading and synthesis of masses of course material. As a generalist introduction to economic analysis, students who come from work backgrounds which do not as a matter of course engage in economic debates are not disadvantaged. That said, those who do or those students who actively follow daily economic discussions will have their learning experience enhanced.