Managerial Economics

4 Weeks Business & Management Course Credit : 3
Micro-Credentials Language of Delivery : English
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  • 1 - Fundamentals of ME and economic decision making
    This topic covers the managerial economics is a decision making tool that is being used by managers to make good decision. It applies economics theories and decision sciences to derive solutions for management problems. In decision making process, there are five (5) steps involved.

    Topic Outcomes

    At the end of this topic, you should be able :

    1. Apply the economic concepts and techniques in the business settings.

  • 2 - Economics Background and Issues
    This topic covers the production process of combining inputs to produce outputs. A firm’s decision making process can be categorised into long-run decisions and short-run decisions. In the long run the time horizon is long enough for a firm to vary all of its inputs. However, in the short run, at least one of the firm’s inputs cannot be varied.

    Topic Outcomes

    At the end of this topic, you should be able :

    1. Understand the importance of external economic environment in making managerial decisions at the firm level.

    2. Understand the national economy, its composition, measurement, and comparisons over time.

    3. Understand the concepts of GDP, GNP, Real and nominal values, price index, interest rates and inflation

  • 3 - Fundamentals of the Economy
    This topic covers the Demand of a good or service is defined as the quantity of a good or service that consumers are willing to buy at various prices within some given time period, with other factors besides price held constant. The supply of a product is the amount that producers or sellers would be prepared to produce or sell in a given period of time. Supply relationships between price and quantity can be shown in the form of a schedule, graph, and algebraic function.

    Topic Outcomes

    At the end of this topic, you should be able :

    1. Make a critical view of the theory of the firm and its goals.

    2. Understand the basic market forces – demand and supply and their interaction.

    3. Understand the concept of market equilibrium price.

  • 4 - The Market Environment of the Firm
    This topic covers macroeconomics interest in the output produced by an entire nation. The total output of a nation determines how well the citizens of that nation live. There are three approaches to measure GDP; output, income, and value added approaches. Inflation is a process of rising prices of goods and services. Equivalently, it is a process in which money steadily loses value and buys fewer and fewer goods and services.

    Topic Outcomes

    At the end of this topic, you should be able :

    1. Understand the market structure and its influence on pricing/competitive strategy.

    2. Understand perfect competition and profit maximization in the short run and long run.

  • 5 - Monetary, Fiscal and Budgetary Policies
    This topic covers two major price indices are the Consumer Price Index (CPI) and the deflator. The two basic types of inflation are demand-pull and cost-push. Macroeconomic instability is the presence of the business cycle - the ups and downs in the economy. There are four phases of a particular business cycle: the peak, recession, trough, and recovery.

    Topic Outcomes

    At the end of this topic, you should be able :

    1. National economy – performance indicators (GDP/GNP).

     

    2. Inflation – measurement and contributing factors.

    3. Economic fluctuations – business cycles.

    4. Fiscal and monetary policies to curb inflation and maintain economic stability.

  • 6 - Inflation, Deflation and the Business Cycle
    This topic covers fiscal policy that refers to changes in government expenditure (?G) and/or taxes (?T) to achieve a particular macroeconomic goal. Expansionary fiscal policy refers to an increase in government expenditures and/or decreases in taxes to achieve macroeconomic goals.

    Topic Outcomes

    At the end of this topic, you should be able :

    1. Understand market structure and its influence on pricing/competitive strategy.

    2. Understand perfect competition and profit maximization in the short run and long run.

  • 7 - Exchange Rate and Currencies
    This topic covers international trading often involves trading one currency for another currency to enable the exchange of goods and services. A convertible currency can be legally exchanged for another convertible currency at a rate of exchange. The foreign exchange rate measures the price of one currency in terms of another currency. Increases (decreases) in domestic owned deposits in foreign banks are debits (credits) to domestic capital. Increases (decreases) in foreign-owned deposits in domestic banks are credits (debits) to capital.

    Topic Outcomes

    At the end of this topic, you should be able :

    1. Learn and practice the important applications of Managerial Economics.

About this Course

Written by fellow Instructor, this course explains about economic analysis is required for various concepts such as demand, profit, cost, and competition. Managerial economics is the study of how economic forces affect organizations and how their leaders can use economic principles to achieve optimal outcomes (Mark Hirschey and Eric Bentzen).

 

Course Synopsis

This course seeks to enhance students’ understanding of the micro and macroeconomic environment which affect a business and decision making by managers. Discussions will focus on basic models of the firm, examines some of the criticisms of the model and offer alternatives in its place. Factors influencing a firm’s supply and demand and price, various elastic ties and market structures in which the firm is operating will also be discussed. Finally, attention is given to discuss the determination of national income, inflation and unemployment, theory and the practice of government fiscal and monetary policy affecting the firm’s decision making.

 

Transferable Skills

Scientific methods, critical thinking and problem solving skills


How it Works

Through easy-to-understand text lessons, this course will provide you with specific topics you may encounter as you work on through your own learning. Each lesson and its corresponding activities can also be accessed on any mobile device, at any time.

 

This course includes:

  • A topic sequence and assessment for this course can be accessed on any device, at any time within the learning duration.
  • Self Reflection and learning activities on each topic enabling you to check on your understanding of the course before moving further into it. 
  • A final exam allowing you to test your comprehension. 


How to Pass

You have to complete all the learning activities and assignments, and sit for the online final examination.  Assessments will be given to evaluate whether you have achieved the Course Learning Outcomes. You are able to download with a Certificate of Completion upon finishing all the learning materials. Certificate of Achievement is also available to be download upon passing all the assessments. The examination will be conducted at a scheduled time and date.

 

Credit Earn

Earning and transferring credit to the Master of Business Administration in School of Management at AeU.

*Applicants must fulfill the standard entry requirements and course credit transfer eligibility criteria for each programmes.

1 - Apply the macroeconomic theories related to the functioning and operations of organisations.
2 - Analyse the economic factors related to and that had impacts on organisations function.
3 - Demonstrate students' knowledge and analytical thinking of the subject matter through group discussions and written assignments

Prof. Dato’ Dr. Sayed Mushtaq Hussain

Designation : Professor at AeU


Education

  • PhD in Economics, University of California, Berkeley, USA
  • MSc. In Economics, University of London, UK
  • Master of Arts Degree in Economics, Punjab University, Lahore, Pakistan
  • Bachelor Degree in Commerce
  • Specializing in strategic economic planning and development policy making

About the Instructor

  • Professor, School of Management (SOM)
  • Program Coordinator, DBA
     

You are required to complete all the learning activities provided in this course. Assessments are given to evaluate your achievement of the Course Learning Outcomes. You are able to download a Certificate of Achievement/Certificate of Completion upon completion of all requisite learning materials and passing the prescribed assessments.
  • 1 - Certificate of Achievement


    Completion of:

    • Course notes/readings
    • Formal course assessment- Multiple Choice Questions/Self assessment 
  • 2 - Certificate of Completion

    Completion of:

    • Course notes/readings 
    • Course learning activities
  • 3 - Malaysian Microcredential Statement (MMS)
    • Malaysian Microcredential Statement (MMS)

Join Now

RM 1305.00

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What’s included

  • 7 Topics
  • Certificate
  • 3 Learning Outcomes
  • Instructor-Led
  • 4 Weeks Duration

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