Business Economics

ZCMA6012 Business Economics

SET 1

Semester 2 (Academic Year 2021/2022)

Instruction for online class
➢ All online classes will be conducted via Microsoft Teams.
➢ Online class will start at 9.00 am. Please be on time!
➢ Each online classes have been scheduled at the respective dates and times for the course.
➢ Each online classes will be recorded and shared in the files section in Microsoft Teams.
➢ Materials will be shared with you during the class hours and in the Microsoft Team for
easy, quick reference.
➢ All submission should be uploaded to UKMFolio. Detailed instructions will be provided with
the respective assignments.
Course Synopsis

Business and managerial economics is a branch of applied

economics that combines economic theory and decision
science analytical tools in assisting managers to make
informed decisions. Emphasis will be placed on preparing
the student to apply economic theories and analytical skills
to make optimum decisions in managing businesses. The
topics covered in this course are marginal analysis,
demand and supply analysis, production and cost analysis,
and market structure analysis. The market structure
analysis includes perfect competition market, monopoly,
oligopoly, and monopolistic competition.
Learning objectives
➢ Able to understand and appreciate the importance of economics in
business.

➢ Apply the economic theories in decision making.

➢ Develop the analytical skills to enhance the decision-making

process.

➢ Able to effectively analyze the factors that affect the organizational

decision-making process.
References
Main reference
➢ Baye, R. M. 2022. Managerial Economics and Business Strategy, 10th
Edition, McGraw Hill International Edition.

Other recommended references

➢ McGuigan, Moyer & Harris, 2011. Economics for managers. 12th Edition.
International Thompson Publishing. (MMH).
➢ Froeb, L.M. & McCann, B.T. 2010. Managerial Economics, A Problem
Solving Approach. 2nd Edition Thomson.
The schedule – basic sessions

9:00am – 12:30pm Topic 1: Introduction to Business Economics

Day 1
2:00pm – 5:30pm Topic 2: Market Forces: Demand and Supply I (Demand)

9:00am – 12:30pm Topic 3: Market Forces: Demand and Supply II (Supply)

Day 2
2:00pm – 5:30pm Topic 4: Quantitative Demand Analysis

9:00am – 12:30pm Topic 5: Theory of Individual Behavior

Day 3
2:00pm – 5:30pm Topic 6: The Production Process and Costs
Topic 7: Managing in Competitive, Monopolistic, and Monopolistically
9:00am – 12:30pm
Day 4 Competitive Markets

2:00pm – 5:30pm Topic 8: Basic Oligopoly Models

Assessment
• Quiz & Test – 70 %
➢ Quizzes – 20 %
➢ Test 1 – 20%
➢ Test 2 – 30%

• Case study (Group project) – 30 %

➢ Report – 20 %
➢ Presentation – 10%