Managerial Economics. ((3 Credits))

Catalog description

Prerequisite(s): MGMT 2240 with a C or better; ECON 2020 ; University Advanced Standing Extends the discussion of the economic theory of markets, demand and supply, elasticity, and marginal analysis process to make more effective decisions. Emphasizes an applied approach using basic theoretical concepts. Discusses the concepts of production theory and cost analysis in the short and long run. Describes how to apply economic decision-making in various competitive markets, including perfect competition, monopoly, monopolistic competition, and oligopoly. Reviews elements of risk and uncertainty in a microeconomic framework.