BX2021 - Managerial Economics

Credit points:	03
Year:	2016
Student Contribution Band:	Band 3
Administered by:	College of Business, Law & Governance

Available to all JCU students. Those who choose to enrol should have gained a sound understanding of introductory economics.

This subject focuses on economic ideas that are of direct relevance to managers and business owners. It assumes that in most (but not all) cases, the primary aim of the manager/business is to maximise profits, and looks at topics that are crucially important to that goal, such as: how to estimate costs and demand; what capital/labour ratios are likely to be most cost effective in which countries; what types of pricing strategies work best in which types of competitive environments; and how to make investment and other decisions under conditions of risk and uncertainty.

Learning Outcomes

• apply the techniques and tools learnt in this subject to broad real world situations;
• explain important concepts of demand, production and cost theory and their relevance to decision making;
• appraise what constraints are imposed on decision making within a firm and make use of methods with which decisions can be made under conditions of risk or uncertainty;
• discuss what market structure is and how the conduct of a firm is dependent upon that structure;
• apply techniques to evaluate investment decisions in both private and public sectors.

Prerequisites:	BU1003 OR BU1903 OR EG4000 OR EC1005 OR EC1001
Inadmissible Subject Combinations:	EC2002 AND EC5204

Availabilities
Townsville, Internal, Study Period 1
Census Date 24-Mar-2016
Coord/Lect:	Dr Sizhong Sun.
Contact hours:	38 hours - Combined Lectures; Tutorials/Workshops; Lecturer directed activities.
Assessment:	end of semester exam (40%); assignments (10%); test/quiz (20%); project report (30%).
External, Study Period 1
Census Date 24-Mar-2016
Coord/Lect:	Dr Sizhong Sun.
Contact hours:	0 hours
Method of Delivery:	WWW - LearnJCU
Assessment:	end of semester exam (40%); assignments (10%); online quiz (20%); project report (30%).

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.