Learn How Businesses Apply Economic Principles to Formulate Effective Decisions
Managerial Economics is a field of Economics that analyzes business decisions. Managerial Economics allows business owners to answer the questions "How much should I produce?" and "What price should I charge?". However, there is much more to Managerial Economics than simply determining the optimum price and quantity that a firm should produce. Managerial Economics also allows us to determine how our business will be affected by changes in the production of other businesses. It allows us to predict the impact that certain government legislation will have on our business. This course will examine business decisions from both the perspective of the supplier and the consumer.
Law of Supply and Demand
Indifference Curves and Budget Constraints
Elasticity of Demand
Isoquant and Isocost Curves
Minimizing Cost of Production
Benefits of Mergers
Time Value of Money
About the Instructor
Robert Reed is a current Masters of Business Administration candidate and veteran with four years of service in the 82nd Airborne Division of the United States Army. He holds a B.A. in Economics and has served as a student tutor for three years.
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