ECF2731 Managerial economics
Faculty of Business and Economics
ECF2731 Managerial economics is a level 2, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2023 in Semester 1 and Semester 2 at Caulfield. It needs ECF1100, ECB1101, ECW1101 or ECC1000 and unlocks 17 units.
- Credit points
- 6
- Offered in 2023
- Semester 1, Semester 2
- Caulfield
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2023 handbook entry. See the 2027 entry.
Reviews
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Requisites
Before ECF2731
Prerequisites
Pass these before you enrol.
Prohibitions
You can't enrol if you have passed any of these.
After ECF2731
17 units list ECF2731 as a prerequisite or corequisite.
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- 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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- ECC5871Political economy: Institutions, order and evidenceNo reviews yet
- ECF3120Consumer economicsNo reviews yet
- ECF3121Economics of international tradeNo reviews yet
- ECF3900Business, competition and regulationNo reviews yet
- ECF5200Game theory and business strategyNo reviews yet
- ECW3301Case studies in international tradeNo 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 unit will deepen your knowledge of the behaviour of firms. You will apply economic tools to analyse production and cost as well as managerial decision making in different market structures. The unit will expand your understanding of the differences between perfect and imperfect competition. In addition, the unit will introduce you to the application of game theory in a competitive environment as well as risk analysis.
Offerings in 2023
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus |
| Second semester | Caulfield | On campus |
Assessment
- Within semester assessment40%
- Examination60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
analyse decision-making by producers
- 2
understand decision making in game-theoretic set ups
- 3
understand and explain the relevant factors behind risk analysis and risk management
- 4
analyse production and cost decisions
- 5
analyse and critically evaluate policies designed to affect individual behaviour and market outcomes.
Workload and teaching
- Tutorials11 hours
- Seminars24 hours
- Lectures24 hours
- Teaching approachActive 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. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Where it fits
ECF2731 is part of 1 area of study in the 2023 handbook.
Contacts
- Chief Examiners
- Dr Wenli Cheng
- Associate Professor He-Ling Shi
Common questions
What are the prerequisites for ECF2731?
You need ECF1100, ECB1101, ECW1101 or ECC1000 before you enrol. Enrolment rules also apply.
What can I take after ECF2731?
ECF2731 is a prerequisite or corequisite for 17 units, including ECB3121, ECC3660, ECC3670, ECC3690, ECC3710 and ECC3740.
When is ECF2731 offered?
In 2023, ECF2731 runs in Semester 1 and Semester 2 at Caulfield.
How much work is ECF2731?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECF2731 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 1 other task.
Which majors and minors include ECF2731?
ECF2731 is part of Economics and business strategy.