ECO215 Managerial Economics for Business Strategy (8)
Prerequisite: ECO110
Corequisite: QBM117
Enrolment Restriction: Not available to students who have completed ECO200
This subject applies economic analysis to a wide range of economic models used in a managerial decision making context. Optimisation techniques are introduced in a managerial decision making environment. Market models are related to cost and production as well as to the types of profit analyses underpinning contemporary business decision-making. 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.