Courses @ UNIRAZAK

This course examines household and business decisions using economic concepts. It focuses on microeconomic theory to analyze organizations function and managerial decisions regarding consumption, profits and output. The course begins with an introduction to basic economic principles and the fundamental role of transactions and markets. Economic theories of demand, cost, competition, monopoly, and oligopoly are introduced and applied in order to examine decisions about production and pricing. Modern game theory and economics are further used to examine mostly internal managerial issues, such as incentive conflicts, information problems, and allocation of decision right. The role of government is necessary to correct market failures and inefficiency. Students will understand how government influences markets to reduce the inefficiency.

• Differentiate a range of advanced and specialized theories, models and techniques for analyzing business decision-making
• Discuss the relevance of models and theories of international trade and apply them to the critical analysis of recent trends
• Relate the basics of economic thinking and its relevance to business management and government policy making