Firms, Markets and Business Management (BUSS5001)


This unit provides students with the tools to understand the impact of economic, socio-cultural, institutional, and technological factors on businesses' operations. Such considerations are crucial to understanding and solving the major problems and challenges facing the world today, such as global warming, poverty, development, and recession. They are also extremely useful for understanding how businesses make decisions and interact in the marketplace. The first part of unit provides an introduction to microeconomic and macroeconomic analysis and applications. In microeconomics we look at economic decision-making by individuals and firms and the determination of prices in different kinds of markets. In macroeconomics we consider determination of the aggregate level of economic activity (GDP and inflation), the economic effects of government policies, and the link between interest rates and exchange rates and the level of economic activity. The economics in the unit is complemented by developing an understanding of the complexity of professional behaviour and ethical decision making. The final part of the unit investigates the social, cultural, institutional and technological environments in which firms operate. It examines theories, models and conceptual tools that help us understand and make decisions in relation to these factors.

Further unit of study information


1x 1.5hr lecture and 1x 1.5hr seminar per week


case analyses (45%), class participation (15%) and final exam (40%)

Faculty/department permission required?


Unit of study rules


ECON5001 or ECON5002 or ECON5003 or ECOF5010, ECON5001 or ECON5002 or ECON5003 or ECOF5010, ECON5001 or ECON5002 or ECON5003 or ECOF5010

Study this unit outside a degree

Non-award/non-degree study

If you wish to undertake one or more units of study (subjects) for your own interest but not towards a degree, you may enrol in single units as a non-award student.

Cross-institutional study

If you are from another Australian tertiary institution you may be permitted to underake cross-institutional study in one or more units of study at the University of Sydney.