230709 Managerial Economics
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particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2025 is available in the Archives.
Credit points: 6 cp
Subject level:
Postgraduate
Result type: Grade and marksThere are course requisites for this subject. See access conditions.
Anti-requisite(s): 23706 Economics for Management AND 23709 Economics for Management
Description
Organisations do not operate in isolation. Macro and micro-environmental factors influence business decisions. This subject examines the economic forces that influence corporate strategy, enabling tomorrow's leaders to incorporate an economic mindset into their managerial decision-making.
Students develop the capability to think systematically and strategically about achieving managerial goals and competitive advantage in complex and unpredictable business environments, through the management of the firm's resources. This subject also enables students to analyse the macroeconomic environment to identify how it impacts business decisions.
Subject learning objectives (SLOs)
| 1. | Apply a critical understanding of demand and supply analysis, cost and production, the behaviour of participants in competitive and non-competitive markets, sources and uses of market power and competitive strategy |
|---|---|
| 2. | Analyse a business problem and apply techniques of economic analysis to assist in the decision-making in complex and unpredictable business environments |
| 3. | Analyse the macroeconomic environment and how it impacts business decisions |
Contribution to the development of graduate attributes
The objectives of this subject contribute directly to the skills and knowledge required for postgraduate study for both the MBA and associated specialist streams. This subject provides the economics knowledge required for decision making by business operating in a dynamic business environment. This subject contributes to the development of the following graduate attributes:
- Intellectual rigour and innovative problem solving
- Social responsibility and cultural awareness
- Professional and technical competence
This subject also contributes specifically to develop the following Program Learning Objective(s) of the Master of Business Administration degree:
- Apply critical thinking and advanced analytical skills to develop innovative solutions that address strategic business issues in complex contexts (1.1)
- Evaluate and apply principles of ethics, sustainability, social responsibility, and Indigenous perspectives, to decision-making in business (3.1)
- Integrate advanced skills and knowledge in professional business practice by researching and analysing complex information and concepts to support business decisions in local and international contexts (4.1)
Teaching and learning strategies
230709 is offered as online delivery only, with a number of interactive workshops – 3 in total to discuss any issues in relation to content and assessment tasks.
The subject content will be supported by detailed online learning modules to be accessed via Canvas. To enhance learning outcomes, each topic covered comprises:
- topic notes
- self-assessment tasks integrated in each topic to reinforce theoretical knowledge and the practical application of this knowledge
Students will be exposed to real-life economic issues and how these impact on business, the business environment, and the economy more broadly. Students are expected to take charge of their learning and extend concepts beyond materials covered in workshops and tutorials. Students are directed to:
- the recommended readings
- self-study questions
- supporting documents provided on UTS-Canvas.
Feedback for completed student assessments tasks will be provided on a timely basis and continuously throughout the subject's duration. Consultations and subject enquiry with the facilitator will be scheduled throughout duration of the subject.
Content (topics)
- Fundamentals of Economics
- Analysing markets and firm decision making
- Production, costs, and profit maximization
- Market structures and the behaviour of firms
- The macroeconomic environment and its measurement
- Macroeconomic management and its impact on the business environment
- The international economy
Assessment
Assessment task 1: Case Study Presentation (Individual)
| Objective(s): | This addresses subject learning objective(s): 1 |
|---|---|
| Weight: | 25% |
| Length: | Recorded presentation (7 min) |
| Criteria: |
|
Assessment task 2: Report (Individual)
| Objective(s): | This addresses subject learning objective(s): 1 and 2 |
|---|---|
| Weight: | 50% |
| Length: | 1500 words |
| Criteria: |
|
Assessment task 3: Media Analysis - Macroeconomics (Individual)
| Objective(s): | This addresses subject learning objective(s): 3 |
|---|---|
| Weight: | 25% |
| Length: | 900 words |
| Criteria: |
|
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Required texts
UTS Business School: Guide to Writing Assignments, UTS Business School, University of Technology Sydney (accessed via the link) Guide to Writing Assignments
References
Michael R. Baye, and Jeffrey T. Prince, (2022), Managerial Economics and Business Strategy, 10th edition, McGraw-Hill
Karlan, D., Bajada, C., Melatos, M., and Morduch, J., (2020), Principles of Economics, 2nd edition McGraw Hill, Australia.