The subject develops students' understanding of managerial decision-making. It is concerned with the application of economic principles and methodologies to the decision making process of the business firm operating under conditions of risk and uncertainty. The subject covers: analytical techniques, demand analysis, production and cost analysis, market structure and pricing practices. Assumed knowledge for this subject is equivalent to that covered in ECO501.
School of Accounting and Finance
Techniques of analysis: optimisation techniques, risk analysis and estimation techniques, linear programming Demand theory: consumer theory, market demand and elasticity concepts Demand estimation: marketing research and regression approaches Demand forecasting: qualitative, time-series and smoothing techniques Production theory and estimation Cost theory and estimation Market structure: perfect competition, monopoly, monopolistic competition and oligopoly Pricing practices: including price discrimination and transfer pricing.
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The information contained in the 2018 CSU Handbook was accurate at the date of publication: August 2018. The University reserves the right to vary the information at any time without notice.