The aim of this course is to introduce economic concepts and methods of analysis, to enable students to understand and use economic arguments in business decision-making. This course provides students with the tools to use economic principles in decision-making, and an understanding of the broader economic environment in which business decision must be made.

After completing this course, the student will be able to:

1. Explain the economic behaviour of Consumer.
2. Explain the economic behavior of consumers. (Comprehension)
3. Analyze the behavior of firms in different market structures. (Analysis)
4. Distinguish among different production techniques and the profit they generate.(Analysis)
5. Discuss the concept of maximization of revenues and minimization of cost.(Comprehension)
6. Measure risk and return. (Evaluation)
7. Measure the effect of different macroeconomic factors. (Evaluation)
8. Demonstrate the impact of different macroeconomic policies on business activities.(Application)
9. Describe the concept of efficiency in the production sector. (Comprehension)
10. Examine the relationship between inflation and employment.(Analysis)
11. Propose the instruments and targets related to fiscal policy. (Synthesis)

1. Demand, Supply and Market Equilibrium
2. Elasticity and Applications (price, income and cross elasticities)
3. Applications of the Demand and Supply Model
4. Firm Behavior and Analysis of FirmRevenue
5. The Choice Problem, Production Function and Related Concepts
6. The Choice Problem, Cost Function and Related Concepts
7. Perfectly Competitive Markets
8. Imperfectly Competitive Markets; Monopoly, Duopoly
9. Imperfectly Competitive Markets; Monopolistic Competition
10. Oligopoly and Game Theory
11. GDP, Income and Growth
12. Money, Investment and International Trade and Finance
13. Aggregate Demand and Supply
14. Fiscal Policy; Unemployment, Inflation

• N. Mankiw, Mark Taylor and Andrew Ashwin (MTA) (2019 ) Business Economics, Cengage Learning EMEA; 3^rd Edition.
• Samuelson, P. A. and Nordhaus, W. D. (2010). Economics. 19^th Edition. New York, USA: McGraw Hill.

Taylor, J. B. and Weerapana, A. (2010). Principles of Microeconomics: Global Financial Crisis Edition (with Global Economic Crisis GEC Resource Center Printed Access Card). 6^th Edition. Boston, MA, USA: South-Western Cengage Learning.