Economics for Managers

Catalog description

This course focuses on the economic principles and knowledge necessary for effective enterprise management in the modern business environment. The course is divided into two modules, one focused on applied microeconomics, the other focused on the macroeconomic foundations of the U.S. and world economy. The microeconomic module applies the economic theory of the firm and consumer behavior to analyze household and firm behavior. Applications include market demand analysis and marketing strategy, production and cost efficiency, pricing, product quality and other competitive strategies. The macroeconomic module examines the U.S. and world economy in relation to national income, international trade, and patterns of investment. Topics include the determination of interest rates, inflation, investment, wage levels, real output growth, exchange rates, and international trade and investment patterns. Also included is a study of the role of financial and governmental institutions in domestic and world commerce.