Managerial Economics (4 Credits)

Learning Outcomes:

Explain the role of supply and demand in determining price in a competitive market and demonstrate supply and demand concept to economic and business strategy issues; Explain the theory individual behavior in managerial decision and calculate the profit – maximizing price and output; Design competition strategies, including pricing, product differentiation, according to the natures of products and the structures of the markets; Evaluate why networks often lead to first-mover advantages and how to use strategies such as penetration pricing to favorably change the strategic environment

Topics:

1. Market force analysis in managerial economic
2. Quantitative demand analysis in managerial evaluation for decision making
3. The function of theory individual behavior in managerial decision
4. The production process and cost analysis in organization of the firm
5. Evaluation of the nature evaluation of industry
6. Strategic managing competitive, monopolistic and monopolistically competitive markets
7. Oligopoly model: basic and game theory
8. Market power in pricing strategies for firms
9. The economics of information
10. Evaluation of advanced topics in business strategy