Students

MMBA8045 – Managerial Economics

2023 – Term 2, Online-scheduled-weekday

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff
David Orsmond
david.orsmond@mq.edu.au
Credit points Credit points
10
Prerequisites Prerequisites
Admission to MBA or GradCertBusAdmin or GradDipBusAdmin or GradCertMgt 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 unit 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.

General Assessment Information

Late Assessment Submission Penalty (written assessments) Unless a Special Consideration request has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted. Submission time for all written assessments is set at 11.55pm. A 1-hour grace period is provided to students who experience a technical concern. For any late submissions of time-sensitive tasks, such as scheduled tests/exams, performance assessments/presentations, and/or scheduled practical assessments/labs, students need to submit an application for Special Consideration.

Assessment Tasks

Name Weighting Hurdle Due
Applied managerial economics task 50% No 11/6/23
Class participation 20% No Weekly; Quiz on 10/5/23
Essay 30% No 17/5/23

Applied managerial economics task

Assessment Type 1: Project
Indicative Time on Task 2: 35 hours
Due: 11/6/23
Weighting: 50%

 

This 2,000 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.

Class participation

Assessment Type 1: Participatory task
Indicative Time on Task 2: 15 hours
Due: Weekly; Quiz on 10/5/23
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: 17/5/23
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.

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

The delivery will be via Zoom live online sessons on Wednesdays 6-10pm for the 10 weeks of T2. Lecture slides and suggested readings will be uploaded on iLearn in advance, and the lectures will be recorded (and posted afterwards to iLearn). Prescribed text: Samuelson, W., & Marks, S. G. (2015). Managerial Economics. This textbook is available as an e-book from Macquarie University Library and is available through Leganto; you do not need to purchase the textbook. We will also make use as a reference the CORE Textbook, The Economy: Economics for a Changing World (Oxford University Press), which is available for free online at www.coreecon. org (register as a student). Other standard economics textbooks may also be helpful for your background reading; there are many in the Library

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:

Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.

To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/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

Academic Integrity

At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

The Writing Centre

The Writing Centre provides resources to develop your English language proficiency, academic writing, and communication skills.

The Library provides online and face to face support to help you find and use relevant information resources. 

Student Services and Support

Macquarie University offers a range of Student Support Services including:

Student Enquiries

Got a question? Ask us via AskMQ, or contact Service Connect.

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.

Unit information based on version 2023.04 of the Handbook