BUSI 5508

Domestic and international markets, government policy and central bank decisions present opportunities, challenges, and threats to the operating and competitive decisions of business owners, managers, and investors. This class provides a framework for the economic analysis of these issues. The main objective of this course is to provide a concise treatment of the fundamentals of economics, as the study of how economic agents allocate scarce resources to satisfy their unlimited wants in a modern market economy such as Canada. Microeconomics studies the behaviour of individual households, firms, and industries, so we will focus on determining how households decide how much to consume, and on how firms decide how much to produce, of various goods and services. We will pay particular attention to the central role of prices.