Scribd Logo
Upload

Welcome to Scribd!

  • 43 views

    Course Outline: Business Economics (ECO409)

    Uploaded by

    Ali Khan
    This course outline describes a 45-hour Business Economics course that will be delivered over 15 sessions. The course aims to provide students with core economics knowledge relevant for business. It will cover topics such as demand analysis, production costs, market conditions, and decision-making under uncertainty. Assessments will include midterms, a final, assignments, quizzes, and presentations. Recommended textbooks and additional readings are also listed.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Course Outline: Business Economics (ECO409)

    Uploaded by

    Ali Khan
    43 views2 pages
    This course outline describes a 45-hour Business Economics course that will be delivered over 15 sessions. The course aims to provide students with core economics knowledge relevant for business. It will cover topics such as demand analysis, production costs, market conditions, and decision-making under uncertainty. Assessments will include midterms, a final, assignments, quizzes, and presentations. Recommended textbooks and additional readings are also listed.

    Original Description:

    Course

    Original Title

    COURSE OUTLINE

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This course outline describes a 45-hour Business Economics course that will be delivered over 15 sessions. The course aims to provide students with core economics knowledge relevant for business. It will cover topics such as demand analysis, production costs, market conditions, and decision-making under uncertainty. Assessments will include midterms, a final, assignments, quizzes, and presentations. Recommended textbooks and additional readings are also listed.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    43 views2 pages

    Course Outline: Business Economics (ECO409)

    Uploaded by

    Ali Khan
    This course outline describes a 45-hour Business Economics course that will be delivered over 15 sessions. The course aims to provide students with core economics knowledge relevant for business. It will cover topics such as demand analysis, production costs, market conditions, and decision-making under uncertainty. Assessments will include midterms, a final, assignments, quizzes, and presentations. Recommended textbooks and additional readings are also listed.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    COURSE OUTLINE

    Business Economics (ECO409)


    Course Title and Code: Business economics (ECO 409)
    Total Credit hours: 45 hrs
    Duration: 15 sessions (3-hrs per session)
    1. Overall aims of course
    This course covers the core economics thatwill needed as a business student. Business economics is
    the application of economic theory and methodology to decision making problems within various
    organizational settings such as a firm or a government agency. The emphasis in this course will be
    on demand analysis and estimation, production and cost analysis under different market conditions,
    forecasting and decision making under uncertainty. Students taking this course are expected to have
    had some exposure to economics and be comfortable with basic algebra. Some knowledge of
    calculus would also be helpful.

    2. Course Contents:
    i. Business and the economic environment
     The economist’s approach to business
     The business organization
     Profit Maximization calculation
     The external business environment

    ii. Market Forces: The Basics of Demand, Supply


     The working of competitive markets
     Business in a perfectly competitive market Demand, Supply
     Price and output determination
     Elasticity of demand and supply

    iii. Demand and the firm


     Understanding consumer behaviour
     Estimating and predicting demand
     Stimulating Demand

    iv. Supply decisions in a perfectly competitive market


     Production and costs: short run, Production and costs: long run, Revenue ,Profit
    maximization

    v. Government, the firm and the market


     Market failures
     Business ethics and corporate social responsibility
     Government intervention in the market
     Environmental policy
     Competition policy and business behaviour
     The regulation of business

    vi. The macro-economy and business activity


     Business activity and the circular flow of income
     The determination of business activity
     The business cycle
     Money, interest rates and business activity
     Unemployment
     Inflation

    vii. National macroeconomic policy


     Fiscal policy, Monetary policy, Supply-side policy

    viii. The International Economy,


     International trade, Trade restrictions, The world trading system and the WTO,
     The European Union and the Single Market

    ix. The balance of payments


     The exchange rate, The growth of global financial flows
     Economic and monetary union in the EU
     International economic policy: managing the global economy
     Postscript: is globalization a ‘good thing’?

    3. Teaching and learning methods

     Class room lectures


     Research Articles / Assignments
     Presentations & Individual Report
    4. Student assessment methods
    Midterms …………………………………. 30
    Final ………………………………… 40
    Assignments/CP ……………………………..… 10
    Quizzes ……………………….………… 10
    Presentations …………………….………….. 10

    TOTAL 100
    5. Recommended Texts:

     Business Economics, 1st Edition N. Gregory Mankiw, Mark P. Taylor, and Andrew Ashwin
     Sloman, J., & Jones, E. (2011). Economics and the business environment (3rd Ed.). Harlow:
    Financial Times Prentice Hall. (SJ)
    Website http://www.pearsoned.co.uk/sloman
     Harris, N. (2001), Business Economics; Theory and Application, Oxford, Butterworth
    Heinemann. (HN)
     Harold Demsetz (1997), The economics of the business firm Seven critical commentaries,
    Cambridge University Press.

    6. Additional Readings:

     Mark Hirschey. (2009) Managerial Economics 12 th edition South Western Cengage


    Learning
     Nick Wilkinson (2005) Managerial economics: a problem-solving approach,Cambridge
    University Press
     Michael R. Baye (2014), Managerial Economics and Business Strategy, McGraw-Hill 8th
    Edition. (MB)
    http://highered.mheducation.com/sites/0073523224/student_view0/chapter1/chapter_overvi
    ew.html

    You might also like