Students
MMBA8045 – Economic Context of Management
2020 – MGSM term 4, Fully online/virtual
Notice
As part of Phase 3 of our return to campus plan, most units will now run tutorials, seminars and other small group learning activities on campus for the second half-year, while keeping an online version available for those students unable to return or those who choose to continue their studies online.
To check the availability of face to face activities for your unit, please go to timetable viewer. To check detailed information on unit assessments visit your unit's iLearn space or consult your unit convenor.
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Danielle Kent
Xiaoman Selma Huang
|
|---|---|
| Credit points |
Credit points
10
|
| Prerequisites |
Prerequisites
Admission to MBA or PGDipMgt or GradDipMgt
|
| Corequisites |
Corequisites
|
| Co-badged status |
Co-badged status
|
| Unit description |
Unit description
This unit examines economic analysis concepts and tools that enable students to set an organisation’s decision-making within its wider economic context. Topics include supply, demand, and market equilibrium; scarcity; exchange and trade; choice theory; theory of the firm; game theory and strategy; market structure; asymmetric information; market failures. The course looks at economic variables and how rises and falls in these variables affect individuals, businesses, and industries. It also teaches students how to apply experimentation in organisations. |
Important Academic Dates
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
Learning Outcomes
On successful completion of this unit, you will be able to:
- ULO1: Evaluate a wide array of economic frameworks and information to formulate business decisions.
- ULO2: Develop a strategy for efficient allocation of scarce resources.
- ULO3: Critically reflect on how changes in economic conditions affect individual businesses and industries.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Class participation | 20% | No | Weekly |
| Essay | 30% | No | 5pm, Friday, 23/10/2020 |
| Applied managerial economics task | 50% | No | 5pm, Friday 20/11/2020 |
Class participation
Assessment Type 1: Participatory task
Indicative Time on Task 2: 15 hours
Due: Weekly
Weighting: 20%
Students are presented with quiz problems to solve. Answers and solutions are discussed in class time.
On successful completion you will be able to:
- Evaluate a wide array of economic frameworks and information to formulate business decisions.
- Develop a strategy for efficient allocation of scarce resources.
Essay
Assessment Type 1: Essay
Indicative Time on Task 2: 25 hours
Due: 5pm, Friday, 23/10/2020
Weighting: 30%
This 1,500 word essay will combine theory, analysis and current issues. Written communication skills will be emphasised.
On successful completion you will be able to:
- Evaluate a wide array of economic frameworks and information to formulate business decisions.
- Develop a strategy for efficient allocation of scarce resources.
- Critically reflect on how changes in economic conditions affect individual businesses and industries.
Applied managerial economics task
Assessment Type 1: Project
Indicative Time on Task 2: 35 hours
Due: 5pm, Friday 20/11/2020
Weighting: 50%
This 3,000 word written submission will bring together the concepts and ideas that the unit analyses.
On successful completion you will be able to:
- Evaluate a wide array of economic frameworks and information to formulate business decisions.
- Develop a strategy for efficient allocation of scarce resources.
- Critically reflect on how changes in economic conditions affect individual businesses and industries.
1 If you need help with your assignment, please contact:
- the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
- the Writing Centre for academic skills support.
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Delivery and Resources
Lectures
Lecture slides will be available on ilearn.
Weekly 'live' online lecture sessions will be held via zoom on:
Wednesdays 10am - 12pm starting from 16th September 2020.
The live lectures will be recorded on Zoom cloud and available via a link on iLearn.
Prescribed textbook:
Students will need to consult this textbook:
Samuelson, W., & Marks, S. G. (2015). Managerial Economics. Hoboken.
This textbook is available as an e-book from Macquarie University Library.
Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:
- Academic Appeals Policy
- Academic Integrity Policy
- Academic Progression Policy
- Assessment Policy
- Fitness to Practice Procedure
- Grade Appeal Policy
- Complaint Management Procedure for Students and Members of the Public
- Special Consideration Policy (Note: The Special Consideration Policy is effective from 4 December 2017 and replaces the Disruption to Studies Policy.)
Students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central).
Student Code of Conduct
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/study/getting-started/student-conduct
Results
Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au
Student Support
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to help you improve your marks and take control of your study.
The Library provides online and face to face support to help you find and use relevant information resources.
Student Services and Support
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
Student Enquiries
For all student enquiries, visit Student Connect at ask.mq.edu.au
If you are a Global MBA student contact globalmba.support@mq.edu.au
IT Help
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.