Managerial Economics

Managerial Economics is an applied branch of microeconomics that examines resource-allocation and tactical decisions that are made by analysts, managers, and consultants in the private, public, and not-for-profit sectors of the economy. In this course students expand their knowledge of key economic concepts and tools addressing the decision-making process. Students also examine the philosophy of optimization, the role of profit, and the relationship between managerial economics and other areas of business and economic analysis.

Specific topics include the fundamental economic concepts of marginal analysis, net present value, risk, and decision analysis. The course also critically looks at areas of demand and forecasting, production and cost, pricing and output decisions; including strategy and tactics, long-term investment decisions, and risk management in the private and the public not-for-profit sectors of the economy. Students are required to apply economic tools to solve business problems using case analysis from a wide array of industries.

Credits

3