Managerial Economics

Learning Outcomes

Upon successful completion of this course, students are expected to be able to explain and analyze basic principles in micro and macro-economics in response to business opportunities; to apply basic principles in economics in making managerial decisions; to apply appropriate managerial economics techniques in performing market structure analysis

Topics

1. This course is designed to provide participants with a basic understanding of microeconomic theory that can be used to understand behavior (in markets and organizations) and to make effective managerial decisions
2. It is intended to provide students with economic tools and an economic analysis used in the process of managerial decision making
3. The course concentrates on microeconomic analysis, which deals with models of economic behavior of the consumer and the firm and will provide a basic understanding of firm and industry behavior that serves as a basis for decision making
4. This will be achieved by first examining the relevant theory and then looking at real world examples
5. This course tries to provide students with detailed knowledge of many of the decision rules of microeconomics and ways in which these can be applied in organizations
6. Students should gain a comprehensive knowledge of market structure as defined in microeconomics, the ability to apply this knowledge to real world situations, and the ability to use microeconomic analysis as a problem-solving tool in their organization