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

2. 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.

3. 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.

4. 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.

5. 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.

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

7. 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

8. 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!