Business and Economic Analysis
Apply economic logic towards business decision-making. Enter academia and research economic theory. Engage in statistical analysis. Step outside of the business world and look at external influences like macroeconomic trends and government policies.
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Australia's largest dual-sector institute, offering both TAFE and higher education, RMIT University proudly delivers work-related education and practical research relevant to current business and community needs. More than 60,000 students study with RMIT, and many of their degrees are available through Open Universities Australia.
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Upon successful completion of the subject you will be able to:
- Apply your knowledge of economics to the practice of management
- Analyse quantitative and qualitative information to assess risk implications in business decisions
- Interpret economic data and assess impact on business decisions
- Undertake independent academic research
- Present quantitative information in a clear simple and informative format.
- Business Economics
- Market Demand
- Market Equilibrium
- Market Failure
- Market Structure
- Monopoly Power
- Macroeconomic Forces
- The Aggregate Market
- Firm Strategy
- Firm Integration
You are recommended to have completed the following subjects(s) or have equivalent knowledge before starting this subject:
- RMI-OMBA770-Introduction To Business Management (No longer available)
- RMI-BUSM4536-Design Thinking for Business (No longer available)
Please note: the listed pre-requisite is for MBA students only who must have successfully completed or currently be enrolled in OMBA770/BUSM4536; or enrol to study BUSM4536 and OMBA820 concurrently.
No additional requirements
This subject will develop your ability to understand, analyse and use economic logic and data to inform business decision-making. You will investigate external environmental factors which affect business performance, such as macroeconomic trends and government policy. It also examines optimal business strategies in response to different external environments, such as pricing and product differentiation. The subject will develop your skills in statistical analysis. Through the application of these techniques you will develop a modern managerial approach to evaluating business arguments and making decisions.
- Individual Assignment (25%)
- Take home Exam (50%)
- Group Presentation (25%)