ECX2320 Economics for entrepreneurs
Faculty of Business and Economics
ECX2320 Economics for entrepreneurs is a level 2, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2026 in Semester 2 at Clayton. It has no prerequisites.
- Credit points
- 6
- Offered in 2026
- Semester 2
- Clayton
- Assessment
- No exam
- 3 tasks
- Workload
- 144 hours
- per semester
This is the 2026 handbook entry. See the 2027 entry.
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Requisites
Before ECX2320
Prohibitions
You can't enrol if you have passed any of these.
After ECX2320
No unit lists ECX2320 as a prerequisite in the 2026 handbook.
Overview
This unit introduces the business strategy to non-commerce, as well as, commerce majors who seek to be future entrepreneurs/business leaders, providing economic tools and analysis for establishing, sustaining or growing a business. Using a lecture and case study workshop approach with the textbook, online resources, guest speakers and videos, this unit will explore and develop an understanding of all the factors that influence the success of a business. A starting point of this unit will be the definition of a market. It will explore issues of price/demand determination, pricing sensitivity, economic costs and the impact of the business environment. Moving ahead the unit will study the effect of industry-wide factors (such as monopoly, oligopoly and monopolistic competition) and economy-wide factors (such as economic growth, inflation, interest rates and foreign exchange rate) on the business performance and competition strategy.
Offerings in 2026
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Clayton | On campus |
Assessment
- Quiz / Test50%
- Presentation20%
- Project30%
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Learning outcomes
When you finish this unit, you should be able to:
- 1
appreciate the economic way of thinking, the methodology of microeconomics and a knowledge of the tools used by economists in problem solving
- 2
understand the economic behaviour of individual consumers and producers and how value is created, including demand can be derived
- 3
understand concepts relating to the economic cost of production in both the short and long run for decision making
- 4
explain the determinants of price and output outcomes under different market structures as well as business strategies
- 5
undertake industry analysis
- 6
apply economics to real world problems.
Workload and teaching
- Workshops24 hours
- Assessments-
- Teaching approachIndustry-based learning
- Teaching approachCase-based teaching
- Teaching approachProblem-based learning
- 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. 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 provides you with the opportunity to engage in industry-based learning to incorporate professional and industry experience into your studies.
This unit includes case-based teaching, where you apply your knowledge and engage in analytical and reflective thinking to solve complex contextual scenarios. Activities are often designed so that there is not one clear answer, but you need to work together to examine, analyse and make decisions to resolve the situation.
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.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Learning resources
Required resources
Economics of Strategy, 7th Edition, David Dranove, David Besanko, Mark Shanley, Scott Schaefer ISBN: 978-1-119-04231-0, Wiley.
Where it fits
ECX2320 is part of 3 areas of study in the 2026 handbook.
Contacts
- Chief Examiners
- Dr Marco Lecci
Common questions
What are the prerequisites for ECX2320?
ECX2320 has no prerequisites.
When is ECX2320 offered?
In 2026, ECX2320 runs in Semester 2 at Clayton.
How much work is ECX2320?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ECX2320 have an exam?
No. ECX2320 has 3 assessment tasks and no exam.
Which majors and minors include ECX2320?
ECX2320 is part of Economics; Economics and business strategy; and Economics and economic policy.