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GMBA71-203: Economics for Managers


Economics for Managers provides an introduction to both microeconomics and macroeconomics for global business managers. The economic tools presented aid the analysis, decision-making and strategic planning that is required of managers. The inclusion of relevant theory is supplemented with an emphasis on practical applications of that theory 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. Macroeconomics is focused on aggregate economic behaviour. 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. Issues in the international economy affect individual businesses. Consequently, the basics of international economics are discussed, including the effects of international trade policies and the exchange rate.

Subject details

FacultyBond Business School
Semesters offered
  • September 2019 [Non-Standard Offering - Bond-BBT]
  • May 2020 [Non-Standard Offering - Bond-BBT]
  • September 2020 [Non-Standard Offering - Bond-BBT]
  • May 2021 [Non-Standard Offering - Bond-BBT]
Study areas
  • Business and Commerce
Subject feesOffshore program fee

Learning outcomes

1. Define and describe basic microeconomic theory
2. Analyse and make recommendations regarding the behaviour of firms and consumers through the application of basic microeconomic theory
3. Identify potential options for policy makers and critically analyse given policies through the application of microeconomic theory.
4. Describe basic macroeconomic theory and calculate, interpret and critique basic macroeconomic data.
5. Analyse various real-world issues that affect national economies, including economic growth, unemployment, inflation and monetary and fiscal policies, through the application of basic macroeconomic theory
6. Describe and critically apply basic international economic theory of open economies, trade 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

Standard Offering
Enrolment opens19/03/2019
Semester start13/05/2019
Subject start13/05/2019
Cancellation 1?27/05/2019
Cancellation 2?03/06/2019
Last enrolment26/05/2019
Withdraw – Financial?08/06/2019
Withdraw – Academic?29/06/2019
Teaching census?07/06/2019
Non-Standard Offering - Bond-BBT
Enrolment opens18/03/2019
Semester start01/05/2019
Subject start13/05/2019
Cancellation 1?27/05/2019
Cancellation 2?31/05/2019
Last enrolment25/05/2019
Withdraw – Financial?10/06/2019
Withdraw – Academic?27/06/2019
Teaching census?09/06/2019
Non-Standard Offering - Bond-BBT
Enrolment opens14/07/2019
Semester start01/09/2019
Subject start09/09/2019
Cancellation 1?23/09/2019
Cancellation 2?27/09/2019
Last enrolment21/09/2019
Withdraw – Financial?07/10/2019
Withdraw – Academic?24/10/2019
Teaching census?06/10/2019