Business Economics

Course Title
Course Code
Course Status
Level
Semester & Year
Pre-Requisite
Credit Hours
Contact Hours

Business Economics
ECO501
Core
Masters
Semester 1 Year 1
None
4 Credits
69 Hours (48 hours of lecture, 21 hours of tutorial)
160 Hours
Course
Face to face
L
T
P
Content
40
21
Quizzes
1
Assignment
3
Final Exam
4
Total
48
21

Notional Hours

Teaching-Learning Strategy

ILT
63
3
13
12
91

TSLT
124
4
16
16
160

Lecture and tutorial

Continuous Assessment
Weightage (%)
Quiz (5 quizzes)
10
Assignment
10
50
Internal Examination
30
Final semester exam
MCQ
20
SEQ
20
50
Assessment System & Mark
MEQ
10
Distribution
Total
100
100
Grading scale
A+ (85-100), A (80-84), A- (75-79), B+ (70-74), B (65-69), B-(60-64)
C+ (57-59), C (53-56), C- (50-52), D+ (45-49), D (40-44), F < 39
A student is deemed to have passed the module if the cumulative marks of the
continuous assessment and the final exam is 50% and above.
Lecturer
Mr. Suren Kadel
The course aims to introduce students to:Course Learning Objective
Managerial decision making revolves around attempts to optimize under conditions
of risk or uncertainty and therefore, it stands to gain by the use of economic analysis.
Hence, understanding and interpreting economic issues is a key management
responsibility. Economics for managers is designed to provide a rigorous treatment
of those aspects of economic theory and analysis that are most useful for managerial
decision making.
Course
At the end of the course, students should be able to:
Learning
CLO 1: To develop a better understanding of Basic economics & the Optimization Techniques
Outcome
CLO 2: To know about Demand theory
CLO 3: To equip students with thorough knowledge of Market Structure and Pricing practices
Business Cycles& Inflation

CLO 4: To equip students with thorough knowledge of The Monetary system & The Economics of
Exchange rates.
Course
Synopsis

This paper mainly deals with the decision making problem under certain & uncertain situation.

Macroeconomics for Managers,

Wadsworth Publishing, 2006.
Knut Anton Mork
Managerial Economics in a Global Economy,; McGraw-Hill, 2006.Dominic Salvator,
Additional
Managerial Economics, J.L. Pappas, E.F. Brigham and B. Shipley, Cassell, 2001.
References
Managerial Economics and Organisational Architerture, J. A Brickley, C.W. Smith, and J. L.
Zimmerman, Irwin, 1997.
Non Face
Face to face
ILT
to Face
Course Title
L T
P L T P
CLO 1: To develop a better understanding of Basic economics & the
Optimization Techniques
2.1 Basic economics
Basic economics; Theory of the firm; The nature and function of profits
2.2 Optimization Techniques
6
2
8
Total, average, and marginal concepts; Optimization analysis; Optimization
with calculus; Constrained optimization; Cost theory and estimation;
Production theory and estimation
References

CLO 2: To know about Demand theory

The demand for a commodity; Price elasticity of demand; Income
elasticity of demand; Cross - price elasticity of demand; Using elasticitys
in managerial decision making; Demand estimation
Demand forecasting
CLO 3: To equip students with thorough knowledge of Market Structure &
Pricing practice& Business Cycles & Inflation
3.1 Market Structure
Perfect competition; Competition in the global economy; Monopoly;
Monopolistic competition; Oligopoly and strategic behavior; Game theory;
Pricing practices; Business cycles; GDP and GNP; The dating of business
cycles; Business cycles in the international Economy; Inflation
CLO 4: To equip students with thorough knowledge of The Monetary system &
The Economics of Exchange rates.
4.1 Monetary system
Real money; Virtual money; The Bankers' Bank; Controlling the supply of
money; Tools of monetary policy
4.2 Economics of Exchange rates
The international monetary system; The economics of floating exchange, rate
purchasing power parity (PPP); The economics of fixed exchange rates

10

14

17

14

28

Assessment

28

Total contact hours

Total Student Learning Time
Total Credit Hours

48 21
160
4

91