Course overview
This course will enable students to apply economic analysis to the behaviour of individuals, businesses and governments and to consider the effect of this behaviour on market outcomes. Topics includes: A review of the basic framework of business economics - objectives and constraints, incentives, opportunity costs, the time-value of money and marginal analysis. Oligopoly: non-collusive models and collusive models. Concentration: Measurements and Determinants. Barriers to entry. Market Structure, firm strategy and performance, Pricing strategy. Auction, Advertising, Research and Development. Competition Policy and Regulation.
Course learning outcomes
- Analyse and describe competition in different market structures, especially oligopoly markets.
- Identify fundamental factors that may influence business decision making process and outcome.
- Examine and predict the responses of individuals, business organisations and government bodies to each other's decisions.
- Evaluate economic rationale for different pricing techniques and implications on firm's profitability.
- Examine various strategies that can be utilised by firms to gain competitive advantage.
- Recognise the rationale for competition policy and regulation, as well as their limitations.
- Demonstrate UniSA Business Enterprise Skills in the context of the Economics discipline: i) Problem Solving (intermediate level); ii) Teamwork (intermediate level) and iii) Written Communication (intermediate level).
Availability
Class details
Adelaide City Campus West
Class number 24078
Section LE01
Size 30
Available 18
Class number 24079
Section TU01
Size 30
Available 18
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