Course Title: Managerial and Business Economics

Part A: Course Overview

Course Title: Managerial and Business Economics

Credit Points: 12.00

Terms

Course Code	Campus	Career	School	Learning Mode	Teaching Period(s)
ECON1048	City Campus	Undergraduate	625H Economics, Finance and Marketing	Face-to-Face	Sem 1 2006, Sem 2 2006, Sem 1 2007, Sem 2 2007, Sem 1 2008, Sem 2 2008, Sem 1 2009, Sem 2 2009, Sem 1 2010, Sem 2 2010, Sem 1 2011, Sem 2 2011, Sem 1 2012, Sem 2 2012, Sem 1 2013, Sem 2 2013, Sem 1 2014, Sem 2 2014, Sem 1 2015, Sem 2 2015, Sem 1 2016, Sem 2 2016, Sem 1 2018, Sem 2 2018, Sem 1 2019, Sem 2 2019, Sem 1 2020, Sem 2 2020, Sem 1 2021, Sem 2 2021
ECON1054	Kolej Metropolitan	Undergraduate	625H Economics, Finance and Marketing	Face-to-Face	Offsh 3 09, Offsh 3 10, Offsh 3 11
ECON1056	Singapore Inst of Management	Undergraduate	625H Economics, Finance and Marketing	Face-to-Face	Offsh 1 09, Offsh 3 09, Offsh 1 10, Offsh 3 10, Offsh 1 11, Offsh 3 11, Offsh1 12, Offsh3 12, Offsh3 13, Offsh1 14, Offsh3 14, Offsh1 15, Offsh3 15, Offsh1 16, Offsh3 16, Offsh3 18, Offsh1 19, Offsh3 19, Offsh1 20, Offsh3 20, Offsh1 21, Offsh3 21, Offsh1 22
ECON1173	Hong Kong Management Associatn	Undergraduate	625H Economics, Finance and Marketing	Face-to-Face	Offsh 3 10, Offsh 4 11
ECON1173	Hong Kong Management Associatn	Undergraduate	625H Economics, Finance and Marketing	Internet	Offsh3 13
ECON1268	RMIT University Vietnam	Undergraduate	625H Economics, Finance and Marketing	Face-to-Face	Viet2 2012, Viet3 2012, Viet1 2013, Viet2 2013, Viet3 2013, Viet1 2014, Viet2 2014, Viet3 2014, Viet1 2015, Viet3 2015, Viet1 2016, Viet2 2016, Viet1 2017, Viet1 2018, Viet3 2018, Viet3 2019, Viet2 2020, Viet1 2021, Viet3 2021
ECON1330	RMIT Vietnam Hanoi Campus	Undergraduate	625H Economics, Finance and Marketing	Face-to-Face	Viet3 2019, Viet2 2020, Viet1 2021, Viet3 2021

Course Coordinator: Dr. Martin Byford

Course Coordinator Phone: +61 3 9925 5892

Course Coordinator Email: martin.byford@rmit.edu.au

Pre-requisite Courses and Assumed Knowledge and Capabilities

Price theory extends, and builds upon, knowledge and techniques developed in Prices and Markets (ECON1020, ECON1025 or ECON1194, or equivalent course codes).
Students are expected to be familiar with the fundamentals of algebra. Knowledge of calculus is desirable but not essential.

Course Description

This course provides you with the economic toolkit that is essential for business decision-making. You will be introduced to the economic context in which businesses compete. You will learn how value is created by a firm, and the circumstances under which a firm can capture this value in the form of corporate profits. We will explore the tension that exists between a firm's acquisition of market power and social welfare, and examine how this tension leads to government intervention in markets. Throughout the course you will apply the principals of strategic decision-making to your analysis.

Objectives/Learning Outcomes/Capability Development

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On successful completion of this course you will be able to:

1. Identify the determinants of value creation and acquisition.

2. Analyse a firm's competitive position in a market.

3. Determine the business and social impacts of the exercise of market power.

4. Apply the principals of strategic decision-making to a wide range of business contexts.

5. Recognise the impact of information and uncertainty on business decision making.

Overview of Learning Activities

Activities include: Reading, note-taking, group activities, group discussions, problem solving and practice tests.

In this course you will be encouraged to be an active learner. Your learning will be supported through various in-class and online activities comprising individual and group work. These may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; conducting presentations; producing written work and collaborating with peers on set tasks or projects.

Overview of Learning Resources

Various learning resources are available online through MyRMIT Studies\Canvas. The lecture notes and workshop notes are posted on Canvas.

Resources are also available online through RMIT Library databases and other facilities. Visit the RMIT library website for further details. Assistance is available online via our chat and email services, face to face at our campus libraries or via the telephone on (03) 9925 2020.

Additional resources and/or sources to assist your learning will be identified by your course coordinator and will be made available to you as required during the teaching period. 

Overview of Assessment

The assessment tasks, their weighting and the course learning outcomes to which they are aligned are as follows:

Assessment Task 1: 20% Linked CLOs: 1, 2, 3, 4, 5

Assessment Task 2: 40% Linked CLOs: 1, 2, 3

Assessment Task 3: 40% Linked CLOs: 2, 3, 4 

Feedback will be provided throughout the semester in class and/or in online forums through individual and group feedback on practical exercises and by individual consultation.