| 8W Teaching Period 4, 2022 Online | |
| Units : | 0.25 |
| Faculty or Section : | Faculty of Business, Education, Law and Arts |
| School or Department : | School of Business |
| Grading basis : | Graded |
| Course fee schedule : | /current-students/administration/fees/fee-schedules |
Requisites
Enrolment is not permitted if ECO5000 has been previously completed
Overview
Economic ideas and methodologies significantly influence politics and business. In this minicourse we take your point of view as a manager or aspiring manager, seeking to understand and use the advice of professional economists to effectively develop and implement a simple pricing model as a powerful tool for your profit maximisation.
This minicourse provides a deeper understanding of pricing, including how to apply the conventional economics model in a real-world business context. Students will look at how pricing decisions are made, and learn how to apply these to business.
Please be advised that this minicourse is made up of four parts please see ECO5000 for the full course specification.
Course learning outcomes
On successful completion of this course students should be able to:
- demonstrate advanced knowledge and understanding of pricing concepts including market conditions and consumer elasticity of demand (ECO5000 LO3;
- generate a profit-maximising pricing solution in response to a current professional context (ECO5000 LO3).
Topics
| Description | Weighting(%) | |
|---|---|---|
| 1. | Demand | 25.00 |
| 2. | Marginal Analysis | 25.00 |
| 3. | Elasticity | 25.00 |
| 4. | Demand and Pricing Decision Impacts | 25.00 |
Text and materials required to be purchased or accessed
Assessment details
| Description | Weighting (%) |
|---|---|
| Assessment 1 | 100 |