Business Economics and e-Commerce (ECON20006)

Undergraduate level 2Points: 12.5Not available in 2019

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Overview

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This subject provides a review of and extension to basic economic analysis of decisions to enable completing students to assist, advise and interpret business decisions, including pricing, product development and strategic redefinition of businesses (mergers, etc.).

Students are provided with economic tools for handling situations of market power, regulation, global competition, rapid technical change, incomplete information and e-commerce. They will develop a facility in applying benefit-cost analysis to risky decisions with consciousness of the underlying demand and cost functions. Students will gain an appreciation of the value and relevance of economic analysis in assisting and understanding business decisions, economic regulation and e-commerce.

Intended learning outcomes

On successful completion of this subject, students should be able to :

  • Explain pricing decisions and product selection and advertising decisions;
  • Describe internal and external forces bearing on business decisions;
  • Classify business decision responses by type;
  • Describe the impact of costs, demand shifts and regulation on business decisions;
  • Critically examine and evaluate statistical series on prices and other industry data;
  • Demonstrate the use of economics to propose and interpret business and organisational decisions; to use benefit-cost analysis, economics valuation methods and basic optimisation techniques;
  • Use business decision spreadsheets.

Generic skills

On successful completion of this subject, students should have improved the following generic skills:
• Formulating, predicting and interpreting business decisions;
• written and oral communication;
• receptiveness to alternative ideas; and
• the synthesis and evaluation of data.

Last updated: 9 April 2025

Eligibility and requirements

Prerequisites

The following:

Code Name Teaching period Credit Points
ECON10004 Introductory Microeconomics
Semester 2 (On Campus - Parkville)
Semester 1 (On Campus - Parkville)
 12.5

Corequisites

None

Non-allowed subjects

None

Recommended background knowledge

Please refer to Prerequisites and Corequisites.

Inherent requirements (core participation requirements)

The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.

Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home

Last updated: 9 April 2025

Assessment

Additional details

  • A 2-hour end-of-semester examination (70%)
  • Assignments totalling not more than 3000 words (30%)
  • To pass this subject students must pass the end of semester examination.

Last updated: 9 April 2025

Dates & times

Not available in 2019

Time commitment details

170 Hours

Last updated: 9 April 2025

Further information

  • Texts

    Prescribed texts

    You will be advised of prescribed texts by your lecturer.

  • Breadth options

    This subject is available as breadth in the following courses:

  • Available through the Community Access Program

    About the Community Access Program (CAP)

    This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.

    Please note Single Subject Studies via Community Access Program is not available to student visa holders or applicants

    Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.

  • Available to Study Abroad and/or Study Exchange Students

    This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.

Last updated: 9 April 2025