Managerial Economics

Catalog description

This course applies economic concepts and economic analysis to the managerial decision-making in business environments and in other managerial units. The course draws on quantitative teechniques such as regression analysis and correlation to develop optimal decisions concerning pricing, production and evaluating risk. The focus of the course is on firm behavior decision in both competitive and non-competitive environments. Game-theoretic concepts are used to analyze strategic decision-making as a response to competitor's behavior and to government laws and regulations. The course applies economic tools to identify problems of asymmetric information and quantify risk to construct decision rules to manage risk. Enrollment is limited to students with a program in Business Adm-Accountng/Finance, Business Adm-Management/Mrktng, Business Administration or Business Administration (OL). Enrollment is limited to Graduate level students.