ECX2320: Economics for entrepreneurs
Faculty of Business and Economics
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Overview
This unit introduces the business strategy to non-commerce, as well as, commerce majors who seek to be future entrepreneurs/business leaders, providing economic tools and analysis for establishing, sustaining or growing a business. Using a lecture and case study workshop approach with the textbook, online resources, guest speakers and videos, this unit will explore and develop an understanding of all the factors that influence the success of a business. A starting point of this unit will be the definition of a market. It will explore issues of price/demand determination, pricing sensitivity, economic costs and the impact of the business environment. Moving ahead the unit will study the effect of industry-wide factors (such as monopoly, oligopoly and monopolistic competition) and economy-wide factors (such as economic growth, inflation, interest rates and foreign exchange rate) on the business performance and competition strategy.
Assessment
1 - Within semester assessment - 100%
Workload
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
