Why this course?

Description

This module follows an integrated approach that provides linkages to and foundational knowledge for learning other business functions but maintains a focus on the heart of mangerial economics. The module will enable students to achieve the following:

• Demonstrate an understanding the principles and concepts underpinning managerial economics and its boundaries and limitations;
• Analyse business situations with a view to identifying problems stemming from the economic environment within which the business is operating;
• Assess and apply fundamental economic concepts to business operations;
• Analyse and estimate the demand for goods and services using generic forecasting techniques;
• Maximise organisational production output subject to cost constraints; 
• Assess and determine price and output alternatives for different market conditions; and
• Make sound judgements of long-term investments and business risks.