This course first aims to provide a general understanding of the basic principles of micro and macroeconomics. This seeks to equip students and enable them to analyze the impact of different markets, economic environments and economic shocks, on business processes. This course then delves deeper into these theories by presenting empirical case studies, with a focus on economic trends and practices in Indonesia, to further illustrate how economic theories are applied in the real world. The theoretical scope of this course covers basic concepts of microeconomics such as consumer behavior, theory of production and profit maximization strategies. This course also discusses monetary and fiscal policies, alongside the managerial impacts of these policies, using the context of Indonesia, ASEAN's awakening giant, as a case study. Within class sessions, students will be prompted to join role-playing problem-solving games that seek mimic real world situations. This aims to support the notion of learning by doing.
The specific goals of this course are:
1. To provide a thorough understanding of microeconomic concepts such as consumer behavior, production functions, cost structures, and the structure of different markets.
2. To provide an understanding of key macroeconomic indicators such as inflation, unemployment, and economic growth.
3. To provide an understanding of fiscal and monetary policies.
4. To provide an understanding of the above basic concepts within microeconomics and macroeconomics, and to introduce how issues at these different levels of analysis, i.e., micro and macro, intertwine to form an economy.
5. To provide students with the ability to analyze the impact of economic policies, using the above theoretical tools, to real world business challenges, using Indonesia as a case study.
Faculty: Putu Geniki Lavinia Natih, S.E. M.Phil., D.Phil.
Course Date & Time
Tuesday 19.00-21.30 pm (Indonesian Time GMT+7), Mid Test between Oct 23-30, 2023, Final Test between 19-30 Dec 2023.