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. Business and Economics – 10 principals, Micro vs Macro, History 4
Date
Course Work
Hours
12th November
Business and Economics – 10 principals, Micro vs Macro, History 4
19th November
Business in Competitive Markets. – Supply, Demand and Elasticity
26th November
Background to Demand – Marginal Utility, Brand Building
10th December
Background to Supply – Costs, Revenue and Profit
17th December
Market Structures – Profit Maximization, Game Theory
7th January
The factor market – The Labour market
11th February
Government and Business – Policies, Market failures
18th February
International Environment – Trade, Globalization
25th February
Macro Economic Environment - Unemployment, Inflation,
4th March
Macro Economic Policy – Fiscal and Monetary Policy
11th March
Group Presentations 5

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!