ECO130 Business Economics (8)
CSU Discipline Area: Economics and Finance (ECFIN)
Duration: One session
Abstract:
This subject introduces students to the basic economic concepts and principles. Students will gain a sufficient understanding of the concepts to apply them in both work and everyday life. The subject provides a foundation for further studies in economics and more generally in business, management, and marketing. Students will be also able to follow discussions about the current business environment and effectively participate in the formulation of business strategies. The subject is designed as a combination of micro and macro issues at an introductory level. The first half of the subject introduces students to the tools of economic analysis, an understanding of price formation, the behaviour of firms and consumers and the basic models of market structure and their efficiency. The second half of the subject covers the key macroeconomic concepts such as inflation and unemployment, and fiscal and monetary policy.
+ Subject Availability Modes and Locations
| Session 1 | |
|---|---|
| Distance | Bathurst | Session 2 |
| Internal | Albury-Wodonga |
| Internal | Bathurst |
| Internal | CSU Study Centre Melbourne |
| Internal | CSU Study Centre Sydney |
| Internal | Dubbo |
| Internal | Port Macquarie |
| Internal | Wagga Wagga |
| Distance | Bathurst |
Continuing students should consult the SAL for current offering details: ECO130
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.
Enrolment restrictions:
Not available to students who have completed ECO100 , ECO110 , ECO120 , RMBU1642 or RMBU1639.
Objectives:
Upon successful completion of this subject, students should:
· be able to use selected aspects of economics to provide insights into issues in their daily lives;
· be able to explain the economic decision making of producers and consumers and their interaction in the market place;
· be able to explain the fiscal and monetary policy in
· be able to discuss
· be able to apply economic theory to practical business problems that any business manager is likely to face, such as pricing decisions, or the impact of government economic policy change on business profitability.
Syllabus:
The subject will cover the following topics:
1. Thinking like an economist
2. Demand and Supply (D-S) model
3. Applications of the D-S model
(a) how consumers and producers make decisions; price elasticity; government price controls
(b) how competitive markets and monopoly work
4. Aggregate demand and aggregate supply (AD-AS model)
5. Application of the AD-AS model in Australian economy
(a) fiscal and monetary policy
(b) unemployment and inflation
(c) international trade and exchange rate
The information contained in the 2013 CSU Handbook was accurate at the date of publication: 24 April 2013. The University reserves the right to vary the information at any time without notice.