Singapore University of Social Sciences

ECO202 Economic Ideas and Models for Business provides students with fundamental knowledge from economic methods that are applied to business. It is the science of decision making for allocating scarce resources in the management of a business or other organisation. The first part of the course covers the principles of microeconomics focusing on consumers’ and producers’ decision making for welfare and profit maximisation, respectively while the second part covers a few key principles of macroeconomics. The course covers the framework of demand and supply, market and efficiency, cost and production decision in an economy, game theories applied to business, information and externality, and a nation’s income, inflation and economic growth in the long run.