25745 Economics: Concepts and Applications

This is a foundation subject in the MBA and certain specialisations in the Master of Business degree program for students with limited work experience. Its main purposes are to explain economic ideas and their applications in business decisions and to explain the behaviour of the economy and the government's involvement in managing the economy. The subject divides into two parts. Part 1 examines the problems of the economy and the models that form the basis of the government's attempts to manage the economy's economic performance in an international context. Part 2 explains demand and supply and the role of market forces on business decisions. The main objective is to develop a capacity to analyse industries and their impact on the prospects and risks of firms.