Overview
This subject reviews the contemporary microeconomic principles in the context most relevant to business people. Market processes, demand patterns, cost structures, market conditions, pricing policies, and the impact of regulation on business decisions are discussed. Cases and problems from the prescribed text, Australian media, and online resources illustrate how economic … For more content click the Read More button below.
Offerings
S1-01-PENINSULA-ON-CAMPUS
S2-01-PENINSULA-ON-CAMPUS
Requisites
Prerequisite
Prohibition
Rules
Enrolment Rule
Contacts
Chief Examiner(s)
Dr Anmol Ratan
Learning outcomes
On successful completion of this unit, you should be able to:
1.
understand how markets work
2.
understand how customers value products
3.
understand which production and cost measures are relevant for decision making
4.
understand how competition affects business decisions on investment, production, and pricing in different market structures
5.
understand the importance of managerial and marketing decisions for changes in foreign exchange rates, technology, incomes, government regulations, sources of energy, the balance of payments.