This subject introduces students to the application of basic economic concepts to managerial decision-making and their use in a range of business environments. Students will learn how to apply microeconomic tools to common problems facing business managers, such as maximising profit, setting prices, creating efficient incentive structures, and selecting competitive strategies. Case studies are also used to demonstrate the value of microeconomic tools in making business decisions, and to foster the student's application of their learning to their own business environment.