Markets and Corporate Behaviour uses economic analysis to determine how a manager should use his or her resources to achieve his or her goals. Economics emphasizes that both the goals and the market situation faced are relevant to what a manager should do. While it is traditional in economics to presume profit maximization is the goal, we will also look at some alternative goals in an effort to find how the goals influence the decisions that should be made to achieve those goals. Once goals are specified, we find that the market situation is highly influential in determining what a manager should do to achieve his or her goals. Market situations can differ in terms of the level of competition, the likely reactions of competitors, legal restrictions, and various informational constraints. While managers in a perfectly competitive environment might simply mimic the behaviour of other successful managers, in less competitive markets you will need to be more innovative and to take into account the likely reactions of your competitors. Fortunately, economic theory provides useful insights to help guide you through a variety of market situations.
|Faculty||Bond Business School|
|Study abroad||Available to Study Abroad students|
1. As a reward for your hard work, mastering this course will equip you with a powerful toolbox for use in analysing relevant issues of the day.
2. Apply this toolbox to your personal affairs, politics, society and global issues.
3. In addition to helping you find solutions to problems and making sense of reality, the methods taught in this course will lead you to ask deeper questions. In turn you will gain a better understanding of the world you live in.
Students must have successfully completed ECON11-100 Principles of Economics or equivalent prior to undertaking ECON12-201