Courses @ UNIRAZAK

This course examines household and business decisions using economic concepts. It focuses on microeconomic theory to analyze organizations' functions 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. It also covers important macroeconomic elements such as gross output, income and employment, and government policies. The role of government is necessary to correct market failures and inefficiency. Students will understand how the government influences markets to reduce inefficiency.

• Understand micro- and macroeconomic theories and their implications for managerial decision making
• Apply market analysis and techniques for analyzing day-to-day business decisions making
• Evaluate the relevance of macroeconomic theories and apply them to the critical analysis of recent trends.