It is essential for engineering managers to have a sound understanding of the business environment;

• the nature of the firm
• the type of markets it operates in
• the nature and extent of competition
• the operational, managerial and strategic decisions

that the firm must face.

This course presents the fundamentals of business economics, issues such as production, pricing and competitive strategy. A discussion of major macroeconomic issues that impact business decisions will also be included.

The relevance and significance of issues adressed in all the other courses of the EM programme will thus have been brought into focus from an integrating perspective.