Managerial Economics

Catalog description

This course provides students with essential tools from intermediate microeconomic theory to support effective decision-making in business and institutional settings. By exploring fundamental economic concepts—such as marginal analysis, profit maximization, cost minimization, and pricing strategies—students will enhance their strategic thinking and managerial capabilities. The course addresses key topics including consumer behavior, demand, production and costs, factor demand, market structure, and strategic behavior, equipping students to tackle complex business challenges and make sound economic decisions. By the end of the course, students will have developed the skills to determine optimal strategies in various market conditions, preparing them to succeed as informed business managers. Prerequisite(s): ECON 25100 FOR LEVEL UG WITH MIN. GRADE OF C AND ECON 25200 FOR LEVEL UG WITH MIN. GRADE OF C Course Learning Outcomes 1. Analyze how individuals and firms make rational decisions in the demand and supply of goods and services. 2. Describe and interpret the equilibrium outcomes of market interactions between individuals and firms. 3. Evaluate market outcomes with regard to economic efficiency and resource allocation. 4. Apply models and theories relevant to the management of firms operating in competitive, monopolistic, and oligopolistic market structures. 5. Identify and assess various pricing strategies for firms with market power, considering the impact on both firm and market performance. 6. Use game theory to inform strategic decision-making and anticipate competitor actions in various market environments. View Class Schedule