ECO 500 - Managerial Economics in the Global Economy (3 cr,)

Review of fundamental economic principles most relevant to management decisions within the organization. Overview of costs and benefits modeling and mathematical analysis as efficient methods for reaching economic decisions. It focuses on the application of optimization theory and mathematical techniques for: (i) profit maximization by firms; and (ii) market equilibrium in different competitive settings. This course would help enhance your understanding of how markets operate and develop your capability in making economic predictions about market outcomes. Economists are model builders, as these facilitate careful analysis of the economic problems of business organizations, and it is important to develop facility in working in this context. Illustration of key concepts through selected case studies across companies in multiple technological industries taken from current newspaper articles. Economics is a key foundation for much of what is taught in other MBA core and elective courses such as accounting, finance, marketing, and strategy.
Semester(s) Offered: Fall, Winter, Summer