ECB2731 Managerial economics
Faculty of Business and Economics
ECB2731 Managerial economics is a level 2, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2024 in Semester 2 at Peninsula. It needs ECF1100, ECS1101, ECB1101, ECW1101 or ECC1000 and unlocks 17 units.
- Credit points
- 6
- Offered in 2024
- Semester 2
- Peninsula
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2024 handbook entry. See the 2027 entry.
Reviews
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Requisites
Before ECB2731
Prerequisites
Pass these before you enrol.
Prohibitions
You can't enrol if you have passed any of these.
After ECB2731
17 units list ECB2731 as a prerequisite or corequisite.
- ECB3121Economics of international trade and financeNo reviews yet
- ECC3660Business cycle fluctuations and monetary policyNo reviews yet
- ECC3670Economics of developing countriesNo reviews yet
- ECC3690International economicsNo reviews yet
- ECC3710Labour economicsNo reviews yet
- ECC3740Economics of financial decision makingNo reviews yet
- ECC3810Public financeNo reviews yet
- ECC3830Industrial organisation and regulationNo reviews yet
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- ECC3871Political economy: Institutions, order, and evidence No reviews yet
- ECC3890Internet business and digital economyNo reviews yet
- ECC5871Political economy: Institutions, order and evidenceNo reviews yet
- ECF3120Consumer economicsNo reviews yet
- ECF3121Economics of international tradeNo reviews yet
- ECF3900Business, competition and regulationNo reviews yet
- ECW3301Case studies in international tradeNo reviews yet
- ECW3830Business, competition and regulationNo reviews yet
Enrolment rules
To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 Higher level. You may have satisfied this by completing relevant prerequisite unit/s, or you have covered relevant topics in your final years of secondary study. You should self-assess your maths competency prior to enrolling in this unit.
Equivalent units
The same content under another code. Only one of them counts.
Overview
This subject reviews the contemporary microeconomic principles in the context most relevant to business people. Market processes, demand patterns, cost structures, market conditions, pricing policies, and the impact of regulation on business decisions are discussed. Cases and problems from the prescribed text, Australian media, and online resources illustrate how economic concepts can be applied to specific industries. Analytical techniques and quantitative tools link the concepts to measurement and managerial decision-making.
Offerings in 2024
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Peninsula | On campus |
Assessment
- Within semester assessment50%
- Examination50%
Learning outcomes
When you finish this unit, you should be able to:
- 1
understand how markets work
- 2
understand how customers value products
- 3
understand which production and cost measures are relevant for decision making
- 4
understand how competition affects business decisions on investment, production, and pricing in different market structures
- 5
understand the importance of managerial and marketing decisions for changes in foreign exchange rates, technology, incomes, government regulations, sources of energy, the balance of payments.
Workload and teaching
- Workshops24 hours
- Teaching approachActive learning
- Teaching approachResearch activities
- Teaching approachProblem-based learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
This unit allows you to develop your research skills by engaging in structured inquiry using a systematic approach and discipline-specific methodologies.
This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.
Learning resources
Required resources
Ivan Png, Managerial Economics, 5th Edition, Routledge, Taylor & Francis Group, 2016.
Where it fits
ECB2731 is part of 2 areas of study in the 2024 handbook.
Contacts
- Chief Examiners
- Dr Jackie So
Common questions
What are the prerequisites for ECB2731?
You need ECF1100, ECS1101, ECB1101, ECW1101 or ECC1000 before you enrol. Enrolment rules also apply.
What can I take after ECB2731?
ECB2731 is a prerequisite or corequisite for 17 units, including ECB3121, ECC3660, ECC3670, ECC3690, ECC3710 and ECC3740.
When is ECB2731 offered?
In 2024, ECB2731 runs in Semester 2 at Peninsula.
How much work is ECB2731?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECB2731 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 1 other task.
Which majors and minors include ECB2731?
ECB2731 is part of Economics and business decisions; and Finance and economics.