This subject is available as a postgraduate-level MBA subject offered by the International College of Management, Sydney (ICMS). Please click the button below to find a postgraduate course suitable for you.
4 credit points
Economic principles are behind many activities and decisions business leaders will face. Economics for Leaders applies fundamental economic principles to real-world business challenges.
In this subject, students will get an understanding of the rationale of ‘thinking like an economist’ and develop an economic way of thinking through real life scenarios.
The main microeconomic concepts and their application across various types of businesses and industries will be covered and emphasis given to the competitive market forces and market structures, principles of rational behaviour, demand and supply decisions.
Students will have an opportunity to gain a better understanding of macroeconomic theory, discuss and interpret current economic conditions, and evaluate short-term and long-term consequences of various macroeconomic interventions. The challenges of globalisation, sustainable growth and international economic integration will be addressed.
a) Construct economic arguments in terms of key micro- and macro-economic concepts and their relevance for business leaders.
b) Apply appropriate economic models to examine economic issues and their influence on different stakeholders.
c) Analyse market structures and optimal decisions applicable to the economic environment in which a business operates.
d) Assess the national and global economic environments and their impact on business.
e) Critically evaluate the implications of national economic policies and global economic trends for an organisations’ sustainable growth.
Learning outcomes for this subject are assessed using a range of assessment tasks as described in the table below.