ECO511 Economics for Business (8)
CSU Discipline Area: Economics and Finance (ECFIN)
Duration: One session
Abstract:
This subject provides an intensive introduction to the economic principles essential to accountants' understanding of the fundamental economic problems facing business enterprises and the society in which these enterprises operate. The principles and associated analytical techniques are then applied to relevant microeconomic and macroeconomic issues that concern the Australian accounting profession.
+ Subject Availability Modes and Locations
| Session 1 | |
|---|---|
| Internal | CSU Study Centre Melbourne |
| Internal | CSU Study Centre Sydney |
| Distance * | Wagga Wagga |
*This subject offering contains a residential school. Please view following information for further details.
Continuing students should consult the SAL for current offering details: ECO511
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.
Enrolment restrictions:
Postgraduate students only. Not available to students who have completed ECO501 or MBA502 .
Objectives:
Upon successful completion of this subject, students should:
- be able to explain the basic microeconomic and macroeconomic principles that will permit a rational analysis of fundamental economic problems; and
- be able to distinguish, select and effectively communicate various policy alternatives.
Syllabus:
The subject will cover the following topics:
- Scarcity and the Economising Problem - The Circular Flow and Five Fundamental Questions of the Price System - The Elements of Demand and Supply - Demand and Supply Elasticity and its Application to Business - The Theory of Consumer Demand - Market Demand Analysis for Business Decision-Making - The Use of Indifference Curves, Production Theory and Production Functions - Costs of Production and Supply Derivation - Cost Estimation and Use in Business Decision-Making - Market Structures (including perfect competition, monopoly, oligopoly and monopolistic competition and associated pricing and output policy) - Aggregate Demand and Aggregate Supply (Introduction to Macroeconomic Theory and Policy) - Keynesian Employment Theory; Fiscal Policy and the Annual Budget; Money, Its Functions, Demand and Supply - Monetary Policy - Monetarism (and the Monetarist - Keynesian Debate) - Unemployment Inflation and Stagflation (Theories and Policies) - Australias Current Economic Performance - International Trade and Comparative Advantages - Financing International Trade - Balance of Payments and Exchange Rates.
Residential School
This subject contains a compulsory 3 day residential school.
The primary objectives of the residential school are: to provide an interactive face to face learning environment, to answer student questions about the subject and to assist students to focus their studies for the remainder of the session. Staff at the residential school will review the subject material covered up to that date and outline the remaining topics. Subject readings will be discussed and placed in context.
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.