Dr. Fred Ku's Course on Business Economics

Business economics is a branch of applied economics which focuses on applying economic tools to the decision-making of business firms. It offers a number of techniques that can guide managers to make sound managerial and business decisions. It also contains a collection of economic insights which helps executives to make good business judgments.

In Day 2 of the MSc in Management program’s course on Business Economics, Visiting Professor Ku used the sale of iPhones in Southeast Asia as an example of how identifying variables that influence demand and supply is the key to gaining the understanding of market equilibrium necessary to analyze a dynamic market.

This course explores a wide variety of issues faced by business managers that can be addressed using the toolkit of business economics: demand analysis and forecasting, competition and market analysis, and pricing strategies and strategic considerations. From the release of books in both hardcover and paperback editions, to the booking of hotel rooms, consumer purchases are influenced by factors about which today’s managers need to have information that they know how to analyze.