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home · studies

| Business Economics |
| Module Type: |
MELH |
| Module Code: |
920 |
| Syllabus: |
Introduction to decision-making, Criteria and objectives in decision-making, Concepts and types of cost.
Cost estimation, Time value of money. Income Taxes Investment analysis. Appraisal and comparison of alternative plants,
Sensitivity analysis, Capital management, Cost-Profit Estimation, Mathematical programming for cost minimisation or
profit maximisation. Risk analysis, Models for economical predictions. |
| Module Aims-Objectives: |
To familiarise students with the important topic of business economic analysis and teach them the methods employed
for the analysis of economic figures in order to make the ‘right’ choice.
Upon completing this module students should be able to:
1. Assess criteria for decision-making.
2. Estimate the profit or the cost of a decision.
3. Appreciate the basic principles of investment analysis.
4. Compare and appraise various alternative plans.
5. Comprehend concepts such as time value of money, capital management, sensitivity analysis, risk analysis.
6. Elaborate on simple mathematical programming problems for cost minimisation or for profit maximisation.
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| Bibliography: |
• Economic Administration, Kleidarithmos Publishing
• Lecture Notes.
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