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Unit of Study

Economics for Business Decision Making
UoS Code BUSS1040
Credit points 6
Offered Semester 1 and Semester 2
Prerequisites None
Corequisites
Prohibitions ECON1001
Assumed Knowledge
Additional Information This unit of study is a compulsory part of the Bachelor of Commerce and combined Bachelor of Commerce degrees.
Lectures 1x 2hr lecture and 1x 1hr tutorial per week
Assessment written assignment (15%), on-line quizzes (10%), mid-semester exam (20%), and final exam (55%)
Description Economics underlies all business decisions, from pricing, to product development, to negotiations, to understanding the general economic environment. This unit provides an introduction to economic analysis with a particular focus on concepts and applications relevant to business. This unit addresses how individual consumers and firms make decisions and how they interact in markets. It also introduces a framework for understanding and analysing the broader economic and public policy environment in which a business competes. This unit provides a rigorous platform for further study and a major in economics as well as providing valuable tools of analysis that complement a student's general business training, regardless of their area of specialisation.