Economics for Managers G (6234.5)
Please note these are the 2023 details for this unit
| Available teaching periods | Delivery mode | Location |
|---|---|---|
| View teaching periods | Flexible On-Campus |
UC - Canberra, Bruce UCI - Royal Institute of Management, Bhutan UCI - East China University of Science & Technology Shanghai UCI - Ningbo University, Ningbo |
| EFTSL | Credit points | Faculty |
| 0.125 | 3 | Faculty Of Business, Government & Law |
| Discipline | Study level | HECS Bands |
| Canberra School Of Politics, Economics And Society | Graduate Level | Band 4 2021 (Commenced After 1 Jan 2021) Band 4 2021 (Commenced After 1 Jan Social Work_Exclude 0905) Band 5 2021 (Commenced Before 1 Jan 2021) |
The content of this subject is especially designed for graduate students and provides an examination of economic principles and theories essential to an understanding of current economic problems and economic policy analysis. The syllabus includes both microeconomics and macroeconomics. The essentials of microeconomics are examined including the theory of market systems and the price mechanism, consumer demand theory, resource allocation and the theory of the firm concentrating on production and cost analysis principles. The macroeconomics component examines the inter-relationship between the main economic variables. Microeconomic reform and fiscal and monetary policy measures are examined and related to economic problems of unemployment, inflation and slow economic growth.
1. Explain and apply fundamental economic theories and concepts to the management of a business;
2. Critically analyse the economic context in which business operates
3. Evaluate the economic and policy environment both in Australia and internationally and apply to the decision making of businesses.
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - communicate effectively
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
Learning outcomes
After successful completion of this unit, students will be able to:1. Explain and apply fundamental economic theories and concepts to the management of a business;
2. Critically analyse the economic context in which business operates
3. Evaluate the economic and policy environment both in Australia and internationally and apply to the decision making of businesses.
Graduate attributes
1. UC graduates are professional - employ up-to-date and relevant knowledge and skills1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - communicate effectively
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
Prerequisites
NONE.Corequisites
NONE.Incompatible units
NONE.Equivalent units
NONE.Assumed knowledge
NONE.
Availability for enrolment in 2024 is subject to change and may not be confirmed until closer to the teaching start date.
| Year | Location | Teaching period | Teaching start date | Delivery mode | Unit convener |
|---|---|---|---|---|---|
| 2023 | UC - Canberra, Bruce | Semester 1 | 06 February 2023 | Flexible | Dr John Hawkins |
| 2023 | UCI - Royal Institute of Management, Bhutan | MBA Trimester 2 | 05 June 2023 | On-Campus | Dr Raymond Li |
| 2023 | UC - Canberra, Bruce | Semester 2 | 31 July 2023 | Flexible | Dr John Hawkins |
| 2023 | UCI - East China University of Science & Technology Shanghai | MBA Trimester 3 | 03 October 2023 | On-Campus | Dr Raymond Li |
| 2023 | UCI - Ningbo University, Ningbo | MBA Trimester 3 | 03 October 2023 | On-Campus | Dr Ben Freyens |
| 2024 | UC - Canberra, Bruce | Semester 1 | 05 February 2024 | Flexible | Dr John Hawkins |
| 2024 | UCI - Royal Institute of Management, Bhutan | MBA Trimester 2 | 03 June 2024 | On-Campus | Dr Raymond Li |
| 2024 | UC - Canberra, Bruce | Semester 2 | 29 July 2024 | Flexible | Dr John Hawkins |
| 2024 | UCI - East China University of Science & Technology Shanghai | MBA Trimester 3 | 08 October 2024 | On-Campus | Dr Raymond Li |
| 2024 | UCI - Ningbo University, Ningbo | MBA Trimester 3 | 08 October 2024 | On-Campus | Dr Ben Freyens |
The information provided should be used as a guide only. Timetables may not be finalised until week 2 of the teaching period and are subject to change. Search for the unit
timetable.
Required texts
There is no prescribed textbook for this unit. The recommended readings for each topic will be provided online with PowerPoint slides. The books below are recommended readings and are available in the RIM library. There are dozens of similar introductory economics textbooks that essentially have the same theoretical content and would be good substitutes.
- Hubbard, R., Glenn., and O'Brien, A. (2015). Essentials of Economics 4th edition, Pearson Education. Boston: Person.
- Layton, A., Robinson, T., and Tucker, I. B. (2012). Economics for Today, 4th edition, Cengage Learning Australia Private Limited.
- Thomas, C. R., Maurice, C. S., & Sarkar, S. (2010). Managerial Economics, McGraw Hill Education Private Limited.
- Peterson, H.C., Lewis, W.C., & Jain, S.K. (2006). Managerial Economics, 4th edition, Pearson Education, Inc.
Other recommended readings
- Mankiw, N. G. (2007). Economics: Principles and Applications, Cengage Learning.
- Tucker, I.B. (2010). Economics for Today, (7th edition). South Western Cengage Learning.
- Publications and reports of the Department of Macro-Fiscal and Development Finance.
- Statistical Yearbook of National Statistics Bureau (NSB).
- Reports and Annual financial statements of the Ministry of Finance.
- National Assembly reports.
- Reports of Gross National Happiness Commission (GNHC)
The following websites may provide very useful sources for current information about the economy of Bhutan:
- National Statically Bureau (NSB): https:// www.nsb.gov.bt/main/main.php
- Royal Monetary Authority (RMA) of Bhutan: https://www.rma.org.bt/
- Ministry of Finance (MoF): https://www.mof.gov.bt/
- Ministry of Economic Affairs (MoEA): https://www.moea.gov.bt.
- Department of Macro-Fiscal and Development Finance: https://www.mof.gov.bt/departments/department-of-macroeconomic-affairs/
- Gross National Happiness Commission (GNHC): www.gnhc.gov.bt
Participation requirements
Regular attendance and participation at the classes is strongly recommended to produce written assignments, and to prepare for the final examination.
Required IT skills
Word-processing; internet searching
Work placement, internships or practicums
None
- MBA Trimester 2, 2023, On-Campus, UCI - Royal Institute of Management, Bhutan (211151)
- Semester 1, 2023, Flexible, UC - Canberra, Bruce (211663)
- MBA Trimester 3, 2022, On-Campus, UCI - Ningbo University, Ningbo (208860)
- MBA Trimester 3, 2022, On-Campus, UCI - East China University of Science & Technology Shanghai (208859)
- Semester 2, 2022, Flexible, UC - Canberra, Bruce (207504)
- Semester 1, 2022, Flexible, UC - Canberra, Bruce (206195)
- MBA Trimester 3, 2021, On-Campus, UCI - Ningbo University, Ningbo (203056)
- MBA Trimester 3, 2021, On-Campus, UCI - Royal Institute of Management, Bhutan (209823)
- MBA Trimester 3, 2021, On-Campus, UCI - East China University of Science & Technology Shanghai (203055)
- Semester 2, 2021, Flexible, UC - Canberra, Bruce (204553)
- Semester 1, 2021, Flexible, UC - Canberra, Bruce (203910)
- MBA Trimester 3, 2020, On-Campus, UCI - Ningbo University, Ningbo (196956)
- MBA Trimester 3, 2020, On-Campus, UCI - East China University of Science & Technology Shanghai (196957)
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- MBA Trimester 2, 2020, On-Campus, UCI - Royal Institute of Management, Bhutan (195009)
- Semester 1, 2020, Flexible, UC - Canberra, Bruce (193924)
- MBA Trimester 3, 2019, On-Campus, UCI - Ningbo University, Ningbo (190387)
- Semester 2, 2019, Flexible, UC - Canberra, Bruce (191707)
- Semester 1, 2019, Flexible, UC - Canberra, Bruce (191706)
