BUSINESS ECONOMICS | Makerere University Courses

Course Code:

EMB 7204

Course Credit Units:

4

Semester:

Semester 2

Year of Study:

Year 1

Undergraduate or Graduate Level:

Graduate Level

Academic Programs:

Executive Master of Business Admnistration

College:

College of Business and Management Sciences

School:

School of Business

Department:

Marketing and Management

Course Discipline:

Economics

Course Description & Objectives:

Business Economics uses concepts, models and analytical techniques of economics to study and analyze the operations of businesses and the type of problems managers face. It also provides important conceptual insights for gaining a better understanding of business environment and to make quality business decisions. The course is designed to develop the students’ ability to apply fundamental economic concepts to business decision and policy issues and problems. Objectives:This course shall enable understanding of key microeconomic concepts and models necessary for understanding and dealing with the problems of management, to enable them to:

Approach managerial decision problems using economic reasoning.
Present business practice topics using an analytical approach, using equations and numerical insight.
Carry out an appropriate microeconomic analysis of the actions of firms.
Use game theory to analyse firms’ behaviour in a competitive market.

Learning Outcomes:

At the completion of this course students are expected to:

Possess cognitive skills of critical thinking to draw economic assumptions based on evidence, to evaluate economic models used for decision-making.
Create, evaluate and access a range of options, together with the capacity to apply ideas and knowledge to a range of business and other situations.
Possess generic intellectual skills such as literacy and information-processing skills, interpersonal and presentational skills.
Have the ability to apply business modules to business problems and phenomena.
Be conversant with key concepts used in decision making, including opportunity cost, incentives, equilibrium, strategic thinking, expectations and marginal analysis.