ECO501 Business Economics (8)
CSU Discipline Area: Economics and Finance (ECFIN)
Duration: One session
Abstract:
This subject introduces economic principles essential to a business person's understanding of the fundamental economic problems of the firm and to the society in which that firm operates.
+ Subject Availability Modes and Locations
| Session 1 | |
|---|---|
| Internal | CSU Study Centre Melbourne |
| Internal | CSU Study Centre Sydney |
| Distance | Wagga Wagga | Session 2 |
| Distance | Bathurst | Session 3 |
| Distance | Albury-Wodonga |
Continuing students should consult the SAL for current offering details: ECO501
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.
Enrolment restrictions:
Available only to students studying honours and postgraduate courses. Not available to students who have completed MBA502 or ECO511 .
Objectives:
Upon successful completion of this subject, students should:
- be able to discuss the basic theoretical principles (concepts) concerned with the economic decision making of producers and consumers and their interaction in the market place;
- be able to discuss the theoretical basis of government economic policies as they relate to Australia's macroeconomic problems of inflation, unemployment, budget and current account deficits and external debt;
- be able to apply economic theory to practical business problems that any business manager or accountant is likely to face, eg incremental cost analysis, pricing decisions, the impact of government economic policy change on business profitability, etc.
- be able to discuss the nature of international business environment and globalisation;
- be able to explain issues relating to sustainable development in Australia.
Syllabus:
The subject will cover the following topics:
The nature and method of economics
The essentials of market theory (microeconomics)
Economics of the consumer
Economics of the producer
Market structures 1: perfect competition
Market structures 2: imperfect competition
Cost concepts for decision-making
The essentials of macroeconomics
Demand Side Equilibrium and the Keynesian model
Fiscal policy
Money, monetary policy and Monetarism
Contemporary macroeconomic issues (exchange rates, current account deficits, and the foreign debt)
Sustainable development
International business environment and globalisation
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.