ECN 604 Economics for Managers

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This ECN 604 Economics for Managers module aims to simplify complex economic concepts and empower students to implement them within a business. Students wishing to enter an interdisciplinary work environment need to understand these concepts, and this module can meet these needs.

• Supply and demand
• Decrease in marginal profit
• Production function and competitive market
• Market equilibrium and government
• Oligopoly
• Game theory and strategic decision
• GDP measures
• Comparative advantage and international trade
• Inflation and price index
• Tax and budget deficits

Learning outcome: If you complete the course, you will be able to: 

• Describe and evaluate how the company makes decisions and the factors that determine those decisions.
• Understand how policy changes affect business and consumer behaviour.
• Explain and evaluate the concept of market failure.
• Determine the relationship between the current economic environment and economic theory. Understand and critically assess recent economic analysis and research conducted in the business environment.
• Apply financial concepts to real life and accept unspoken assumptions.
• Use analytical tools and techniques to determine the importance of various factors in making business decisions.
• Use a lean mindset, Technology for efficient allocation of limited resources.

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