Course Details

Economic Analysis for Managers

Course Code ECON-701
Lecture hours per week 3
Lab hours per week
Course Availability: Open
Description:

Managerial economics is the application of economic theory to decision-making in various organizational settings such as a firm or a government agency. The purpose of this course is to provide students with a basic understanding of economic theory and the analytical tools used in decision-making. The emphasis in this course will be on the microeconomic and macroeconomic influences which affect decision-making in a business. These influences include: (1) how customer behavior affects firm revenue, how costs affect firm production, and (3) how the market environment influences a firm’s ability to respond to the strategies of its competitors. Managers also need to be aware of macroeconomic changes, to be able to analyze and interpret economic forecasts, and to project the impact of macroeconomic changes on firms and their competitors.

Course Outline ECON-701.pdf