Managerial Economics

Catalog description

This course is designed to enable students to apply economic theory and analysis to the decision-making process of business firms. As such, students will move from a theoretical to a practical understanding of microeconomics. The course uses a variety of analytical techniques (from the disciplines of calculus and statistics) in conjunction with microeconomic theory to find practical solutions to real-world business problems, including optimal production and pricing decisions, cost minimization strategies, and the overall objective of maximizing shareholder wealth. Students will learn how these decisions are affected by the competitive structure within which a business operates. Prerequisites: ECO 101 and CTI math.