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.
- 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.
Recommended: Prior completion of
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