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This unit focuses on aspects of microeconomics and macroeconomics of most relevance to managers. The main themes are the market system and what it can accomplish; limitations and failures of markets; government policies and other factors in the macroeconomic environment impacting on business; how issues and government policies with respect to the international economy impact on business. Quantitative analytic techniques for business and economics are introduced and applied. In this unit, you will study:

  • Economic foundations, statistics for economists, demand and supply
  • Production and costs, the perfectly competitive firm and monopoly
  • Externalities, public goods and the public sector
  • Gross Domestic Product, unemployment and inflation
  • Simple linear regression
  • Multiple linear regression.

Learning outcomes

  • Apply microeconomic and macroeconomic theory to understanding the behaviour of consumers, businesses, governments and other organisations
  • Assess the impacts of economic activity on business, society and the natural environment to inform business decisions applying economic tools and concepts
  • Evaluate the likely impacts on business of various macroeconomic considerations and government policy settings in an open economy to inform business decisions
  • Analyse business and economic data and interpret quantitative analysis to inform business decisions using quantitative analytic techniques

Assessment

You are assessed according to the following components, each with its own weighted value against your overall result:

  • Quiz: 10%
  • Quiz: 20%
  • Quiz: 30%
  • Report: 40%

Courses

You can study this unit as part of the Master of Business AdministrationMaster of Engineering Management, Graduate Diploma in Business and Graduate Certificate in Business.   Please note, unit structure and content are subject to change. Contact your SCU Online student advisor on 1300 589 882 for more information based on your particular circumstances.