MBA5246 Economic decision making
Faculty of Business and Economics
MBA5246 Economic decision making is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2024 in Semester 1 at Caulfield. It has no prerequisites.
- Credit points
- 6
- Offered in 2024
- Semester 1
- Caulfield
- Assessment
- No exam
- 1 task
- Workload
- 153 hours
- per semester
This is the 2024 handbook entry. See the 2027 entry.
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Requisites
Before MBA5246
No prerequisites or corequisites besides the enrolment rules below.
After MBA5246
No unit lists MBA5246 as a prerequisite in the 2024 handbook.
Enrolment rules
You must be enrolled in course B6017, B6054 or B9001 to undertake this unit.
Overview
This unit examines a wide range of topics related to both microeconomics and macroeconomics. Microeconomics coverage includes: exploration of concepts such as scarcity, which refers to the limited availability of resources relative to unlimited human wants; economic choice, where individuals and firms make decisions based on trade-offs and opportunity costs; demand and supply analysis, including how consumers and producers interact in the marketplace; and the impact of the business environment on a firm’s profit-maximising strategies. Macroeconomics coverage includes: aggregate demand and aggregate supply, such as the overall spending and production levels in an economy; crucial macroeconomic indicators, including unemployment and inflation, and their causes, consequences, and policy implications; and the role of the money market and monetary policy, including how the central bank influences interest rates, money supply, credit conditions and exchange rates to manage the economy.
Offerings in 2024
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus, block |
Assessment
- Within semester assessment100%
Learning outcomes
When you finish this unit, you should be able to:
- 1
demonstrate the ability to comment on the methodology and principles that underpin economic decision-making
- 2
demonstrate the ability to articulate a foundational understanding of both microeconomics and macroeconomics
- 3
formulate persuasive arguments and make informed decisions within the economic context
Workload and teaching
- Seminars45 hours
- Teaching approachActive learning
Minimum total expected workload to achieve the learning outcomes for this unit is 153 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.
Contacts
- Chief Examiners
- Associate Professor He-Ling Shi
Common questions
What are the prerequisites for MBA5246?
MBA5246 has no prerequisites, but enrolment rules apply.
When is MBA5246 offered?
In 2024, MBA5246 runs in Semester 1 at Caulfield.
How much work is MBA5246?
The handbook expects about 153 hours of study across the semester. No students have rated its difficulty yet.
Does MBA5246 have an exam?
No. MBA5246 has 1 assessment task and no exam.