Economic decision making

The economic lens for reasoning and decision-making in business is a critical understanding for practising executives and business leaders. In Economic Decision-Making / Managerial Economics, macroeconomic issues such as aggregate supply and demand, how the central bank influences interest rates, money supply, credit conditions and exchange rates to manage the economy, and issues of spending and production in the economy are critical. The microeconomics topics covered in the unit include concepts such as resource scarcity, economic choice, demand and supply analysis and the impact of the business environment on a firm’s profit-maximising strategies.