BUSS230 B-LG1: Business Professional Knowledge & Competence
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Description
OSB graduates will acquire the essential tools of economic theory to study the optimal allocation of resources within the firm. Within this context, demand analysis, production theory as well as cost theory will be emphasized. The strategic element of managerial decision making is also discussed. To that end, the market structure/environment in which the firm operates (monopoly, perfect competition, oligogoply or monopolistic competition) and the main determinants of competition facing the firm are discussed. OSB graduates will be able to apply strategies that allow the firm to successfully compete within its environment. In applying these strategies graduates will use concepts, principles and theories from economic and game theory.