ECN3655 Managerial Economics
4 Advanced Liberal Arts Elective Credits
Successful business decision-making requires the systematic analysis of a firm’s internal factors and external market forces. Managerial Economics uses applied microeconomics to prepare students to perform these quantitative analyses, both internally, looking at cost structure and scale, for example, and externally, to understand consumer preferences and demand, price sensitivity, the nature of competition, and the regulatory environment. Students will leave this course able to evaluate firms’ pricing, product attributes, production and output decisions, in the context of the competitive environment and constraints on the firm. Students will also hone quantitative skills that help them face challenges arising in dynamic markets where data can help entrepreneurs and managers mitigate risks and capitalize on opportunities.
Prerequisites: SME2031 or ECN2002