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Unit of study_

BUSS1040: Economics for Business Decision Making

Economics underlies all business decisions, from pricing to product development, to negotiations, to understanding the general economic environment. This unit provides an introduction to economic analysis with a particular focus on concepts and applications relevant to business. This unit addresses how individual consumers and firms make decisions and how they interact in markets. It also introduces a framework for understanding and analysing the broader economic and public policy environment in which a business competes. This unit provides a rigorous platform for further study and a major in economics as well as providing valuable tools of analysis that complement a student's general business training, regardless of their area of specialisation.

Code BUSS1040
Academic unit Business School
Credit points 6
ECON1001 OR ECON1040
Assumed knowledge:
Mathematics (equivalent of band 4 in the NSW HSC subject Mathematics or band E3 in Mathematics Extension 1 or 2) OR MATH1111

At the completion of this unit, you should be able to:

  • LO1. explain key concepts and apply these to macro and micro real-world contexts
  • LO2. analyse business problems by identifying and critically evaluating the implications of business decisions using micro and macro economics principles
  • LO3. communicate effectively, both orally and in writing, through assessment tasks and tutorial participation.