ECO607 Economics for Managerial Decis

Lead Faculty: Dr. Wali I. Mondal

Course Description

In this course, students study the price system, market structure, and consumer theory as they apply to managers in a variety of decision-making environments. This course covers the use of mathematical and economic decision-making tools for determining optimal levels of output, resource usage, and capacity planning.

Learning Outcomes

  • Analyze price and output determination in imperfect, monopoly, and perfectly competitive markets.
  • Assess the usefulness of profit maximization in the decision-making process.
  • Analyze factors influencing supply and demand in different markets.
  • Evaluate the usefulness of elasticity to the managerial decision-making process.
  • Assess the effects of government intervention into the economy on the managerial decision-making process.
  • Evaluate managerial decision-making tools using different ethical theories.