EC2002 - Managerial Economics

Credit points:	03
Year:	2005
Student Contribution Band:	Band 2
Administered by:

EC2002 is one of two intermediate microeconomics subjects offered at JCU. (Microeconomics is the branch of economics that focuses on small - micro - issues pertinent to businesses and individuals). Both intermediate microeconomic subjects extend and develop material used in the first year and introduce new material. EC2002 focuses on issues pertinent to the profit-maximising firm. For example: it looks at various pricing strategies available to firms; methods of estimating (and forecasting) demand; optimal input strategies, and decision making under conditions of risk and uncertainty.

Learning Outcomes

• the objective of the Ec2002/2003 subjects (which together form a full-year microeconomics theory course) is to provide a thorough analysis of the theory of the market system and the operation of supply and demand in determining the activities of individual economic units (consumers, firms and factors of production). This allows the actual performance of the economy (which is analysed in later applied microeconomic units) to be compared with the expected performance based on price theory, so that the differences between the two may lead to proposals for improving the economys performance.

Graduate Qualities

• The ability to think critically, to analyse and evaluate claims, evidence and arguments;
• The ability to adapt knowledge to new situations;
• The ability to define and to solve problems in at least one discipline area;
• The ability to communicate effectively with a range of audiences;
• The ability to lead, manage and contribute effectively to teams;
• The ability to speak and write logically, clearly and creatively;
• The ability to calculate, produce, interpret and communicate numerical information;
• The ability to select and use appropriate IT tools;
• The ability to access and employ online technologies effectively;
• The ability to use and interpret different media;
• A coherent and disciplined body of skills, knowledge, values and professional ethics in at least one discipline area;
• The ability to use a variety of media and methods to retrieve, analyse, evaluate, organise and present information;
• The ability to reflect on and evaluate learning processes and products;
• The ability to learn independently and in a self-directed manner;
• A commitment to lifelong learning and intellectual development.

Prerequisites:

EC1005

Availabilities
, , Study Period 1
Census Date 31-Mar-2005
Coordinator:	Natalie Stoeckl
Contact hours:	26 hours 12 hours 12 hours
Assessment:	(40%); (20%); (40%).

Note: Minor variations might occur due to the continuous Subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.