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.
1x 2hr lecture and 1x 1hr tutorial per week
online quizzes (10%); mid-semester test (25%); written assignment (15%); final exam (50%)
ECON1001 OR ECON1040