Key Skills: exchange, marginal analysis, supply and demand, price elasticity, decision-making, analysis of market structures, regulatory and policy issues, communication, networking, teamwork, organizational management, assimilating information, identifying opportunities
Description: The managerial economics course analyzes the economic behavior of individuals and firms and explores how their interactions in markets affect managerial decisions. Basic concepts include supply and demand, price elasticity, and optimal decision making. These analytical tools will be applied to understand how key financial management decisions are made in different industrial structures (such as competition vs. monopoly) and the implications of government policies for market outcomes. Students will apply practical data analysis techniques to estimate key parameters and relationships that inform optimal decisions.