Handbook

NOTE: This course was previously identified as MBAX9122. The performance of an organisation is driven by firm-specific, industry and economic factors. AGSM9122 Economics in Management Practice has been developed to give you a deeper understanding of all three of these factors and to provide a rigorous foundation for any further … For more content click the Read More button below. Microeconomics is the focus of Units 1 to 5 of this course. It provides you with a deeper understanding of both firm-specific and industry factors that drive financial performance and how they may affect decisions about responsible management. These Units cover the purchase decisions of individual customers and how the features of the industry will influence company profitability. An understanding of microeconomics helps managers to better understand and predict the behaviour of customers, competitors and suppliers. These concepts are foundational to any further study in the area of strategy and responsible management. Macroeconomics is the focus of Units 6 to 10 of this course. It provides you with a deeper understanding of the economic factors that drive financial performance. These Units cover the factors that drive economic growth, inflation, employment, interest rates and exchange rates. An understanding of macroeconomics helps managers to better understand and predict how changes in the economy will affect the industry in which they operate.