ECO5000 Economics for Managers
|Short Description:||Economics for Managers|
|Faculty or Section :||Faculty of Business, Education, Law and Arts|
|School or Department :||School of Commerce|
|Student contribution band :||Band 3|
|ASCED code :||091901 - Economics|
|Grading basis :||Graded|
|Version produced :||23 January 2020|
There are no prerequisites for this course. This course will require an ability to read graphs, charts and tables. There are no advanced mathematical requirements for this course.
Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at http://www.usq.edu.au/current-students/support/computing/hardware.
The course initially outlines the problem solving and decision making process that the conventional economics model utilises to enable firms to make `rational' pricing and investment decisions. A comprehensive explanation of firm profit maximising pricing behaviour in various market structures and under different market conditions is presented and critiqued. Concepts for investment decision making with uncertainty are outlined and developed. Strategic decision making, particularly when faced with uncertainty is discussed and assessed in several business contexts.