This unit focuses on microeconomics, the study of choice under scarcity. All businesses, consumers and even countries and their governments have limited resources. This unit provides an introduction to microeconomic analysis focusing on concepts and applications relevant to business. It addresses how individual consumers and firms make decisions and how they interact in markets. Tools are introduced for analysing government policies that address market failures. The unit provides a rigorous platform for further study and a specialisation in business economics as well as providing valuable analytical tools that complement a general business training, regardless of area of study.

This unit presumes no prior exposure to economics and aims, by the end of the unit, to bring a proficiency equivalent to that of students with an intermediate level macroeconomics unit in an Honours degree program. Many economic principles developed in this unit are routinely used in several other units in the program. Macroeconomics studies aggregate economic behaviour. The unit covers theories of the engines of long-run economic growth, of unemployment, of money, inflation, the interest rate and the exchange rate, as well as consumption, saving and investment behaviour. The unit also studies a number of applications of the theory and addresses contemporary macroeconomic problems and policy.

This unit of study introduces tools to study the impact of laws and public policy on individual behaviours. We will critically evaluate empirical research produced by economists, sociologists, criminologists, and legal scholars. Topics will focus on criminal justice policy but will also cover other areas of law such as labour and social policy.

Financial markets play a fundamental role in a modern economy. In this unit of study we analyse how financial markets function, with a particular focus on: the factors underlying demand and supply; risk and uncertainty; incomplete contracts and renegotiation; and asymmetric information and its implications. In doing so, we identify the key features of markets for financial assets. The unit also examines the development of financial institutions and current issues in financial markets.

This unit builds on prior studies of microeconomics by introducing key concepts in Behavioural Economics. The implications of these departures from neoclassical economics will be explored for a range of topics, which may include financial decision-making, wage and incentive contracts, public policy, and charitable giving.

A firm's success depends on both its internal and external strategic relationships. This unit of study analyses how a firm can manage these relationships. We examine agency problems within the firm, outlining ways that firms try to mitigate these issues. Strategic relationships with input suppliers examined. We discuss how firms can establish a strong bargaining position in these relationships. The optimal boundaries of the firm are also analysed. We also study how a firm's product-market strategy affects its relationship with its rivals in the output market.

The unit of study aims to enhance students ability to communicate persuasively in oral and written form about business economics, including in professional contexts and with the general public. In this context it will focus on developing skills in the translation of economic ideas, and synthesis. Motivated by the fact that in many practical contexts preparation times are limited and ones audience has a short attention span, the unit will particularly focus on succinct and concise communication. These skills will be developed through practice.

This unit of study provides analytical and theoretical frameworks for understanding various problems and current issues in macroeconomics in the global economy. The unit builds on ECON5001 and ECON5002 at a more advanced and specialised level with a focus on international/open-economy aspects of macroeconomics. The first part of the unit deals with economic foundations, following this there is a focus on qualitative, empirical or quantitative analysis using contemporary models. Topics to be covered include foreign exchange markets, interest parity, exchange rate determination and intervention, goods market and money market, the international monetary system and the role of central banks.

This unit is designed to highlight the relation between trade and development from an institutional and structural perspective, with appropriate modifications of received general economic principles, theories and policies. It closely studies the integration process of traditional segment of a developing society into its modern counterpart in countries selected from Asia, Africa, Latin America, the Caribbean, and the Pacific regions. It examines role of the state and international institutions (like the International Monetary Fund, World Bank, World Trade Organization), rationale for trade, planning and market mechanisms in developing economies, and also socio-cultural preconditions and economic requirements for a market economy. It focuses on a wide range of developmental problems and issues (such as foreign aid, debt, investment, technology transfer) from both national and international points of view.

In this unit of study emphasis is exclusively concerned with market failures that impact on the natural environment. Attention is given to why these market failures occur and what role there is for regulation and government policy. Topics covered include efficiency and markets, market failure, externalities (e.g. pollution), various methods of regulating pollution, and measuring the demand for environmental quality.

Private equity (PE) is crucial in developing new business ventures and promoting innovation. This unit investigates how PE firms operate, analysing the key strategic issues they face during the fundraising, investing and exit stages of the PE cycle. Topics covered include: the determinants and types of PE fundraising, the organisational structure of PE firms, the PE firm's investment decision, the PE firm-investee company relationship and the design of exit strategies. The role of PE in the broader economy is also discussed. Finally, we introduce some of the ethical issues PE firms face.

In this unit, students will engage in discussing major health care issues and applying econometric tools to assess the (cost)-effectiveness of health care policy reforms. The following topics are likely to be covered: (1) international health care systems and finance, (2) determinants of the demand and supply of health care and behaviours, (3) inequalities in health and access to care, and (4) current policy reforms such as the introduction of provider incentives and co-payments. Each topic will be accompanied by an empirical application and replication assignment.

This unit provides students with an overview of global economic development over the past 1000 years with the objective of helping to understand today's global economy and business environment and what the future might hold. The motivating question throughout is: how did we get here and where are we going? This is addressed through an examination of both the global east and the global west. Conventional analysis is tested through the prism of history and long-run data. The unit of study examines global themes and then proceeds to consider geographies, building on the global theme lectures.