Managerial Economics

Catalog description

The purpose of this course is to apply the economic theory of the firm and consumer behavior to management decision making. This involves the development of a conceptual framework to analyze household and firm decisions related to product and factor markets and the application of that framework to managerial decisions. Applications focus on market demand analysis and marketing strategy, production and cost efficiency, pricing, product quality and other competitive strategies, optimization under regulatory constraint, optimal employment decisions, and incentive structures. The applications are developed with cases and problems.