EDABS 103 Economics for Business Understanding the principles of economics and their relevance to business practices

Module Aims Aims to impart knowledge, competencies, and skills relating to the application of economic principles to business studies, with reference to both micro and macro perspectives of economic behaviour and their strategic significance.

Learning Outcomes Knowledge Understand economic concepts and their applications. Articulate how and why economics is relevant to organizations Interpret value propositions based on economic perspectives in a context of micro and macro economic dynamics Debate the economic rationales of business performance.

Learning Outcomes Competencies Use economic concepts in decision making and strategy formulation scenarios. Evaluate the validity of economic rationales in relation to the changing purposes of businesses.

Learning Outcomes Skills Lead any management related discussion based on economic concepts and economic data. Prepare management reports with reference to micro and macro economics data.

Assessment Final Exam 55% Assignment 20% Presentation 20% Multiple Choice Short Answer Long Answer Assignment 20% Presentation 20% Participation 5%

Introduction to Economics for Business 1 2nd October Date Course Work Hours 25th September Introduction to Economics for Business 1 2nd October Business and Economics – 10 principals, Micro vs Macro, History 4 9th October Business in Competitive Markets. – Supply, Demand and Elasticity 16th October Background to Demand – Marginal Utility, Brand Building 23rd October Background to Supply – Costs, Revenue and Profit 30th October Market Structures – Profit Maximization, Game Theory 6th November The factor market – The Labour market 13th November Government and Business – Policies, Market failures 11th December International Environment – Trade, Globalization 18th December Macro Economic Environment - Unemployment, Inflation, 8th January Macro Economic Policy – Fiscal and Monetary Policy 15th January Group Presentations

Course format Lecture powerpoints will be uploaded on Friday. PBL – Problem based learning – we will learn through solving of problems. Participation is critical. I do not expect you to memorize – however you should study and try to understand the powerpoint presentations. There are not lecture tutorials – you have to take notes on items you think are important. Enjoy the class!