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Managerial Economics (ECON90015)
Graduate courseworkPoints: 12.5Dual-Delivery (Parkville)
From 2023 most subjects will be taught on campus only with flexible options limited to a select number of postgraduate programs and individual subjects.
To learn more, visit COVID-19 course and subject delivery.
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Semester 1
James Bugden: bugdenj@unimelb.edu.au
Semester 2
Ivan Balbuzanov : ivan.balbuzanov@unimelb.edu.au
Overview
| Availability | Semester 1 - Dual-Delivery Semester 2 - Dual-Delivery |
|---|---|
| Fees | Look up fees |
This subject provides an introduction to the fundamentals of microeconomics, strategy and key issues in macroeconomics, and applies this knowledge to business and management issues. Topics to be covered include: the working of competitive markets; the operation of business organisations such as cost management and pricing decisions; strategic behaviour and market outcomes in different market environments; the effect of public policy on business organisations; and the main macroeconomic influences on the business environment.
Intended learning outcomes
On successful completion of this subject students should be able to:
- Explain the role of supply and demand in determining price in a competitive market;
- Apply supply and demand analysis to economic and business strategy issues;
- Explain how economies of scale, scope and learning determine the boundaries of a firm and market structure;
- Identify the main characteristics of different market types, such as perfect competition, monopoly, monopolistic competition and oligopoly. Explain and analyse the nature of competitive behaviour in these markets and the implications for business strategy;
- Apply economic models of business behaviour and markets to describe the main features of actual markets and to explain outcomes in actual markets, including prices and output levels, and business performance and profitability;
- Identify strategic situations in business activity and be able to analyse and predict the outcomes of these strategic situations using game theory;
- Analyse and explain the implications of various measures of cost; and
- Identify the concepts of “external” costs and benefits that may be generated by consumption and production. Explain the nature of public policy in the form of taxation, quantitative restrictions and tradeable emissions permits that may be imposed on firms to correct for external costs in production where environmental pollution may have resulted.
- Explain the key macroeconomic drivers of an organisation’s business environment and how macroeconomic outcomes can be affected by government policy.
Generic skills
On successful completion of this subject, students should have improved the following generic skills:
- Evaluation of ideas, views and evidence;
- Synthesis of ideas, views and evidence;
- Strategic thinking;
- Critical thinking;
- Application of theory to economic policy and business decision making;
- Accessing economic and other information;
- Summary and interpretation of information;
- Problem solving skills;
- Written communication; and
- Oral communication.
Last updated: 12 November 2022
Eligibility and requirements
Prerequisites
Admission into or selection of one of the following:
- MC-MGMT Master of Management
- MC-MGMTACT Master of Management (Accounting)
- MC-MGMTAFN Master of Management (Accounting and Finance)
- MC-MGMTFIN Master of Management (Finance)
- MC-MGMTHRE Master of Management (Human Resources)
- MC-MGMTMKT Master of Management (Marketing)
- MC-ENGYSYS Master of Energy Systems
- MC-IS Master of Information Systems
- MC-AEMTRCS Master of Applied Econometrics
- MC-AECOENH Master of Applied Econometrics (Enhanced)
- 761EM Master of Engineering Management
- MC-PROP Master of Property
- MC-IB Master of International Business
Corequisites
None
Non-allowed subjects
MC-ECO Master of Economics
MC-MGMTAFN Master of Management (Accounting and Finance)
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: 12 November 2022
Assessment
Semester 1
| Description | Timing | Percentage |
|---|---|---|
Assignment
| Week 7 | 10% |
Multiple choice test
| Week 6 | 10% |
Assignment
| Week 10 | 10% |
End-of-semester examination
| During the examination period | 70% |
Semester 2
| Description | Timing | Percentage |
|---|---|---|
Individual Assignment , submitted online
| Week 9 | 30% |
Mid-Semester Exam, online through LMS
| Mid semester | 20% |
End of Semester Exam, online
| End of semester | 50% |
Additional details
Important online examination information: This examination is the equivalent of a 2-hour assessment; however, students are provided with 3-hours to accommodate the time that will be required for typesetting of mathematical expressions and the uploading of documents.
Last updated: 12 November 2022
Dates & times
- Semester 1
Coordinator James Bugden Mode of delivery Dual-Delivery (Parkville) Contact hours Lectures, tutorials and workgroups totalling three hours per week Total time commitment 170 hours Teaching period 28 February 2022 to 29 May 2022 Last self-enrol date 11 March 2022 Census date 31 March 2022 Last date to withdraw without fail 6 May 2022 Assessment period ends 24 June 2022 Semester 1 contact information
James Bugden: bugdenj@unimelb.edu.au
- Semester 2
Coordinator Ivan Balbuzanov Mode of delivery Dual-Delivery (Parkville) Contact hours Lectures, tutorials and workgroups totalling three hours per week Total time commitment 170 hours Teaching period 25 July 2022 to 23 October 2022 Last self-enrol date 5 August 2022 Census date 31 August 2022 Last date to withdraw without fail 23 September 2022 Assessment period ends 18 November 2022 Semester 2 contact information
Ivan Balbuzanov : ivan.balbuzanov@unimelb.edu.au
Time commitment details
Estimated total time commitment of 170 hours per semester
Last updated: 12 November 2022
Further information
- Texts
Prescribed texts
You will be advised of prescribed texts by your lecturer.
- Related Handbook entries
This subject contributes to the following:
- 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.
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: 12 November 2022