ECON5503 Economic Management and Strategy

6 points
(see Timetable)
Non-standard teaching periodUWA (Perth)Face to face
Trimester 1UWA (Perth)Face to face
Trimester 2OnlineOnline
Trimester 2UWA (Perth)Face to face
Trimester 3OnlineOnline
This unit presents a critical set of principles and tools to assist managers to make informed decisions in an environment of economic risk and uncertainty. The unit introduces the basic elements of microeconomics and macroeconomics in terms of understanding the economic basis of business and strategic decision making through the application of economic principles to the role of the modern manager. Built around contemporary business experience and informal case studies, topics include supply and demand; market structures; contemporary market issues; the macroeconomic environment; money and financial markets; interest rates; inflation and unemployment; exchange rates; and a range of topical economic issues.
Students are able to (1) explain the microeconomic foundations of business decision making; (2) articulate the role that economics plays in understanding the issues that confront business in market economy; (3) explain the macroeconomic context within which businesses operate; (4) critically assess the major global economic challenges facing business; (5) demonstrate the ability to communicate clearly, effectively and appropriately in a range of contexts; and (6) demonstrate competencies to work effectively in diverse teams.
Indicative assessments in this unit are as follows: (1) individual assessment; (2) group assessment; and (3) final examination. Further information is available in the unit outline.

Supplementary assessment is not available in this unit.
Unit Coordinator(s)
Dr Paul Crompton (NSTP, TR1, TR2, TR2 online), Professor Alison Preston (TR3 online)
Unit rules
enrolment in one of the following courses: Master of Business Administration (coursework); Master of Business Administration (coursework and dissertation); Graduate Certificate in Business;
approval from The Business School only, which will be determined with regard to relevant documented professional work experience.
ECON5541 Economics for Business: Applications and Policy
Contact hours
trimester teaching periods—lectures/seminars/workshops: up to 3 hrs per week; non-standard teaching period—lectures/seminars/workshops: up to 5 hrs per week over 7 weeks; online—nil
Unit Outline
Trimester 1-2020 [TRI-1-2020]
Trimester 1_2019_ONLINE [TRI-1_2019_ONLINE]
Trimester 2_2019_ONLINE [TRI-2_2019_ONLINE]
Non-standard teaching period [TS-G-1E-2020]
  • The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
  • All students are responsible for identifying when they need assistance to improve their academic learning, research, English language and numeracy skills; seeking out the services and resources available to help them; and applying what they learn. Students are encouraged to register for free online support through GETSmart; to help themselves to the extensive range of resources on UWA's STUDYSmarter website; and to participate in WRITESmart and (ma+hs)Smart drop-ins and workshops.
  • Books and other material wherever listed may be subject to change. Book lists relating to 'Preliminary reading', 'Recommended reading' and 'Textbooks' are, in most cases, available via the Booktopia Textbook Finder, which has the functionality to search by course code, course, ISBN and title, and may also be posted or available at the appropriate school's administrative offices. Where texts are listed in the unit description above, an asterisk (*) indicates that the book is available in paperback.