Managerial Economics
This course explores foundational principles from microeconomics and macroeconomics that enable managers and entrepreneurs to make sound strategic decisions in a competitive global marketplace. Through interactive business scenarios and case studies, students analyze and apply essential economic concepts including supply and demand, consumer behavior, production processes and costs, and pricing.
Core Topics
- Fundamentals of Managerial Economics
- Overview of Macroeconomics
- Organization of the Firm
- Market Forces: Demand and Supply
- Quantitative Demand Analysis
- Theory of Individual Consumer Behavior
- Production Process and Costs
- Nature of Industry and Managing in Competitive Markets
- Pricing Strategies for Firms with Market Power
Learning Outcomes and Career Relevance
- Explain and apply economic theories related to market, firm, and consumer behavior, and evaluate governmental policies intended to influence the marketplace.
- Apply key economic concepts, including supply and demand, production and cost function, and pricing to evaluate and explain economic and business data and produce business forecasts and strategies.
- Interpret and evaluate a diverse set of real-world and hypothetical business scenarios as individuals and in groups, explaining potential consequences on businesses