ECON2014 Managerial Economics is a practical and applied course in the field of managerial economics. This course will teach you to analyse key economic problems from a managerial perspective and will focus on three main areas. The course starts with key economic concepts in Managerial Economics (fundamental microeconomics topics such as demand, supply, production, cost, market structure and pricing from a managerial perspective), the course will move and develop deeper understanding of the key framework of Organisational Architecture (Decision Rights assignment, Reward System and Performance Evaluation mechanisms) and the course concludes with key contemporary applications of Organisational Architecture in dominating areas of executive concerns: Corporate Governance, Vertical Integration, Outsourcing, and we discuss the future of the Gig Economy.
During the course we will touch the role of risk management systems, disaster-management systems, and effective decision making under uncertainty.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
- Demonstrate and understanding of the scope of managerial economics problems in the organisation
- Develop the internal and external managerial economics decisions apparatus to make efficient decisions
- Design competition strategies, including pricing, product differentiation, research & development, and marketing, according to the natures of products and the structures of the markets
- Design optimal incentive schemes, including salary, bonus, and stock options, for employees at different levels of the firm
- Analyse real-world managerial economics problems with a systematic theoretical framework.
Indicative Assessment
- Assessment may consist of a Final Exam, mid-semester exam(s), quizzes, assignments, participation marks, video responses or some combination thereof. See the Class Summary for details. (100) [LO 1,2,3,4,5]
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Workload
130 hours in total over the semester consisting of lectures, tutorials and private study time.
Inherent Requirements
Not applicable
Requisite and Incompatibility
Prescribed Texts
See Class Summary for details.
Minors
Fees
Tuition fees are for the academic year indicated at the top of the page.
Commonwealth Support (CSP) Students
If you have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). More information about your student contribution amount for each course at Fees.
- Student Contribution Band:
- 34
- Unit value:
- 6 units
If you are a domestic graduate coursework student with a Domestic Tuition Fee (DTF) place or international student you will be required to pay course tuition fees (see below). Course tuition fees are indexed annually. Further information for domestic and international students about tuition and other fees can be found at Fees.
Where there is a unit range displayed for this course, not all unit options below may be available.
| Units | EFTSL |
|---|---|
| 6.00 | 0.12500 |
Course fees
- Domestic fee paying students
| Year | Fee |
|---|---|
| 2024 | $4680 |
- International fee paying students
| Year | Fee |
|---|---|
| 2024 | $6000 |
Offerings, Dates and Class Summary Links
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage.
Class summaries, if available, can be accessed by clicking on the View link for the relevant class number.
First Semester
| Class number | Class start date | Last day to enrol | Census date | Class end date | Mode Of Delivery | Class Summary |
|---|---|---|---|---|---|---|
| 2265 | 19 Feb 2024 | 26 Feb 2024 | 05 Apr 2024 | 24 May 2024 | In Person | View |
