Economic Analysis

This subject is available as a postgraduate-level subject for students studying the Master of Professional Accounting at ICMS.

Subject Code:

ECO821A

Subject Type:

Core

Subject Level:

800

Credit Points:

4 credit points

Pre-requisite:

DAT621A Data Analytics for Business

Subject Rationale:

Professional accountants need to be aware of the economic environment in which they operate and its impact on the short- and long-term strategic business decision-making. Economic analysis is part of everyday business life, from analysing and estimating consumer demand for a product or service on a business level to forecasting budget deficits on a national level.

This subject is designed to expose students to microeconomics, covering the behaviour of individuals and firms, their interaction in the markets and the role of government. In the context of macroeconomics, students will examine the determinants of aggregate economic variables such as national income, price levels, rate of economic growth, the balance of payments, and their relationships.

The subject equips students for their professional roles in which they need to conduct context analysis using economic theory to support strategic business decisions. Further, the subject provides students with the skills to apply economic reasoning and to critically evaluate national-level policymaking. Students will apply data analytics methods to predict economic outcomes relevant for business and to propose appropriate recommendations.

Learning Outcomes:

a) Apply advanced economic theories and concepts to address specific business issues.

b) Critically analyse microeconomic issues and their impact on businesses, utilising relevant data analytics techniques.

c) Assess the effects of national economic conditions and global economic trends on businesses and propose appropriate business solutions.

d) Critically analyse and predict the impact of government policies on various market participants and the macroeconomic environment.

e) Construct and communicate economic arguments, applying appropriate economic models and data analytics tools.

Assessment Information:

Learning outcomes for this subject are assessed using a range of assessment tasks as described in the table below.