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ECO215 Managerial Economics for Business Strategy

Subject Description

This subject applies managerial decision making analysis on various economic models, as well as introduces the student to optimisation techniques used in a managerial decision making environment. Economic models are related to cost and production as well as to the types of profit analyses underpinning contemporary business decision-making.

Subject Outlines

The subject explores the profit/loss implications of alternative business strategies under various market conditions including competitive, monopoly and oligopoly market structures. Game theory models of business strategy are explored and applied to various business contexts. Alternative business pricing practices are reviewed. Policy issues are considered in an applied context through case studies and business applications.

Availability

• Session 2 (60)
• Online
• Wagga Wagga Campus

Subject Information

Grading System

• HD/FL

Duration

• One session

School

• School of Accounting and Finance

Enrolment Restrictions

• Not available to students who have completed ECO200

Assumed Knowledge

• ECO110

Subject Relationships

• ECO220 Similar Content

Incompatible Subjects

• ECO200

Learning Outcomes

Upon successful completion of this subject, students should:

• be able to discuss various economic models of managerial decision making
• be able to analyse strategic business decision-making using a range of contemporary models
• be able to apply the business strategy analysis to several case study managerial economics models

Syllabus

This subject will cover the following topics:

• techniques of analysis: optimisation techniques, risk analysis and estimation techniques, linear programming
• demand theory: consumer theory, market demand and elasticity concepts
• demand estimation: marketing research and regression approaches
• demand forecasting: qualitative, time-series and smoothing techniques
• production theory and estimation
• cost theory and estimation
• market structure: perfect competition, monopoly, monopolistic competition and oligopoly
• pricing practices: including price discrimination and transfer pricing