Topic outline

  • General description

    This unit aims to provide students with the basic tools of economics commonly used in managerial studies. The course starts with an introduction to the economic way of thinking, followed by a traditional style in introducing a series of topics including consumption decisions, production decisions, pricing, profits, and market equilibrium under a variety of conditions of market structure. Studying this course should enable the student to go through other materials in a number of courses including finance and marketing. The course includes a reasonable dose of theory as well as a decent amount of practical examples focusing on the analysis of market and business activity. Real examples obtained from specialized business news are sometimes used, where economic tools are used to show the usefulness of theory in explaining real world issues. It is hoped that going through the materials of this unit will help bridge the gap between students of management and economics, and also help students build a decent amount of economics vocabulary fairly used in professional life.