All sectors – agriculture, manufacturing, services, and construction – in the economy are interrelated. A better understanding comes from an economics point of view which takes into account the interconnection as given rather than studying each sector in isolation. Economics offers a rational view of markets and society in the domestic and international context from the perspective of individual units or the economy as a whole. This paper helps executives understand the economic environment and the supply chains that enable it. This paper blends micro and macro-level topics.

On a micro-level, the paper introduces economic decision-making from the perspectives of consumers, firms, and markets. Micro-economic issues covered include: anticipating opportunities in a competitive business environment, pricing strategies, strategic interactions between firms, market failure and sustainability. Competitive supply chains are an integral component of the business environment, therefore we also spend time exploring different supply chain strategies and how that unlocks advantages for firms.

On a macro-level, the paper first uses a national and then a global lens. Nationally, the following topics are explored: New Zealand's GDP growth across sectors, inflation, trade, housing, labour and financial markets. We further discuss how supply chain systems in the country support or inhibit economic growth on a macro-level. Using a global lens, the paper focuses on macroeconomic imbalances internationally, the flow of capital, crisis vulnerabilities in both advanced and emerging markets, and global responses to COVID-19 pandemic in terms of monetary and fiscal stimulus. On global issues, the role of policy coordination is covered from an economic as well as a geopolitical perspective.

Assessments are based on case studies and assignments to ensure understanding of the paper's content and the students will be assessed based on the capability to apply the skills and knowledge gained.

Waikato Management School Helpdesk: wms_helpdesk@waikato.ac.nz, 0800 WAIKATO, extn 4599

ITS: https://landesk.waikato.ac.nz0800 WAIKATO, extn 4008

Moodle help files