BUSN 5041: Economics for Managers
NOTE: For registration please contact Bob Gaglardi School of Business and Economics General Program Inquiries (Email: mba@tru.ca or Tel: 1-877-663-4087).
Students develop an understanding of the fundamental tools of economic analysis that are essential for understanding managerial decision-making. Microeconomic topics include demand and supply, elasticities, production and cost analysis in the short-run and long-run, market structures and pricing strategies. Macroeconomic topics include an examination of indicators, such as GDP, economic growth, interest rates, unemployment rates, and inflation, and an overview of fiscal and monetary policies.
Learning outcomes
- Analyze changes in economic factors on markets using the demand and supply framework
- Demonstrate the influence of price elasticity on managerial decisions.
- Analyze short-run and long-run decision-making in a perfectly competitive market structure
- Demonstrate how barriers to entry affect market and pricing power.
- Illustrate how decisions are made in a monopolistically competitive market, in the short-run and long-run.
- Compare and contrast strategies of firms in non-cooperative and cooperative scenarios.
- Analyze how differences in demand and elasticity lead managers to develop pricing strategies.
- Discuss the role of macroeconomics on firm-level and industry-level decisions.
- Explain how macroeconomic indicators such as GDP, housing starts, consumer confidence indices, money supply, bond yields, unemployment and inflation, and exchange rates can be used by firms and industries to predict future economic prospects.
- Explain the important managerial decisions.
- Discuss the sources and implications of market failure.
Course topics
- Module 1: Market and market failure
- Module 2: Elasticities
- Module 3: Production and cost analysis in the short run
- Module 4: Production and cost analysis in the long run
- Module 5: Market structures I
- Module 6: Market structures II
- Module 7: Pricing strategies for firms with market power
- Module 8: Macroeconomic indicators for decision making
- Module 9: Stabilization policy and its impact on firms
Required text and materials
Online students are responsible for sourcing and ordering their own textbooks. Please see the list of required textbooks here: https://www.tru.ca/distance/courses/MBA_Textbook_List.pdf.
Please note that publishers may offer several package options that include additional resource material not required in your course. You may purchase a package of your choice as long as it includes the correct author, title and edition listed for your course.
If you have any questions about obtaining the correct textbook, please contact OLMaterials@tru.ca. They will be happy to assist you.
Assessments
Please be aware that should your course have a final exam, you are responsible for the fee to the online proctoring service, ProctorU, or to the in-person approved Testing Centre. Please contact exams@tru.ca with any questions about this.
To successfully complete this course, students must achieve a passing grade of 70% or higher on the overall course, and 50% or higher on the final mandatory examination.
| Discussion 1: Module 1 – Market Failure | 3% |
| Discussion 2: Module 3 – Productivity | 3% |
| Discussion 3: Module 4 – Cost Analysis | 3% |
| Discussion 4: Module 6 – Imperfect competition | 3% |
| Discussion 5: Module 8 – Macroeconomics indicators | 3% |
| Assignment 1: Individual Assignment – Modules 1, 2 – Market forces and elasticity | 10% |
| Assignment 2: Group Assignment – Modules 3, 4, 5 – Production and costs, and market structures I | 10% |
| Assignment 3: Group Assignment – Modules 6, 7 – Market structures II and pricing strategy of the firm (includes a case study analysis) | 10% |
| Assignment 4: Group Assignment with video presentation Modules 8, 9 – Managers and business in the global environment | 15% |
| Final Exam – Modules 1-9 (mandatory) | 40% |
| Total | 100% |
Open Learning Faculty Member Information
An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of the course.
