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GMBA71-203: Economics for Managers


Economics for Managers introduces both microeconomics and macroeconomics for global business managers. The economic theories are supplemented with an emphasis on practical applications to real-world business problems. Microeconomics is the study of individual decision-making units (consumers and firms) and their interaction in a market economy. An understanding of this assists managers when faced with choices and issues such as how much to produce, what price to charge, whether to shut down production in the short run and the impact of new, cheaper substitute products. Macroeconomic principles assist managers in their need to analyse, predict and respond to changes in an uncertain economic environment. Topics covered include inflation, unemployment and the influence of monetary and fiscal policy. The skills that students will develop in this subject are essential for successful managers. This will certainly establish a vital component in most jobs in the multidisciplinary fields of business.

Subject details

FacultyBond Business School
Semesters offered
  • September 2020 [Non-Standard Offering - Bond-BBT]
  • May 2021 [Non-Standard Offering - Bond-BBT]
  • September 2021 [Non-Standard Offering - Bond-BBT]
  • May 2022 [Non-Standard Offering - Bond-BBT]
Study areas
  • Business and Commerce

Learning outcomes

1. Define and describe microeconomic theory
2. Apply microeconomic theory to analyse issues faced by firms and consumers in an efficient decision-making process.
3. Apply microeconomic theory to formulate recommendations based on the analysis of the firm and consumer behaviours.
4. Define and describe the macroeconomic concepts, interpret and critique aggregated data.
5. Apply macroeconomic concepts and analyse various real-world issues that affect national economies, including economic growth, unemployment, inflation and monetary and fiscal policies.
6. Apply international economic theory of open economies to discuss the trade barriers and trade policy.

Enrolment requirements

Requisites: ?


Restrictions: ?
  • Study Abroad Students
  • This subject is not available to students on US Financial Aid.
  • Students on a Student Visa may be restricted from enrolment due to the mode of delivery in the chosen semester. Check the subject outline for further details.

Must be admitted into a BBT/MBA Program

This subject is not available as a general elective. To be eligible for enrolment, the subject must be specified in the students’ program structure.

Anti-requisites: ?

  • ECON71-501 Economics for Managers

Subject outlines

Subject dates

Non-Standard Offering - Bond-BBT
Enrolment opens15/03/2020
Semester start01/05/2020
Subject start11/05/2020
Cancellation 125/05/2020
Cancellation 2?29/05/2020
Last enrolment23/05/2020
Withdraw – Financial?08/06/2020
Withdraw – Academic?25/06/2020
Teaching census?07/06/2020
Non-Standard Offering - Bond-BBT
Enrolment opens02/08/2020
Semester start01/09/2020
Subject start01/09/2020
Cancellation 1?21/08/2020
Cancellation 2?28/09/2020
Last enrolment20/09/2020
Withdraw – Financial?03/10/2020
Withdraw – Academic?24/10/2020
Teaching census?02/10/2020