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Duration

3.5 hours

Price

Level

Intermediate

Certification

Available

Learn How Businesses Apply Economic Principles to Formulate Effective Decisions

Expected learning & outcomes

  • Evaluate business decisions from an economic perspective
  • Analyze the behavior of companies in the marketplace
  • Comprehend core concepts in managerial economics
  • Formulate and recommend business decisions

    Skills you will learn

    Budgeting, Economics, Organization, Pricing, Production management

    About this course

    Welcome!

    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.


    Topics Covered

    • Market Equilibrium

    • Price Controls

    • Law of Supply and Demand

    • Indifference Curves and Budget Constraints

    • Elasticity of Demand

    • Isoquant and Isocost Curves

    • Minimizing Cost of Production

    • Market Structure

    • Pricing Strategies

    • Benefits of Mergers

    • Employee Incentives

    • 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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