Managerial Economics ((3))

Catalog description

Methods and applications of managerial decision-making, covering topics of product and labor demand, production and cost functions, market structure, price and advertising, strategic decision making, decision making under uncertainty, organization architecture, contracts and outsourcing, incentive system, ethics, and leadership. Upon completion of this course, the student will be able to (1) develop greater knowledge of the types of problems faced by business managers; (2) develop intuition concerning how economics helps solve managerial problems; (3) learn the strategic workings of modern firms (i.e., small, large, domestic, and multinational); (4) understand how market organization, corporate culture, and public policy affect business performance; and (5) improve presentation skills, including developing an ability to convey information to others. These objectives are achieved by classroom lectures and discussions, data analysis projects, historical and current events, homework assignments and examinations.