4128 Managerial Economics

Course Description

This course provides students with the knowledge, tools and techniques to make effective economic decisions under conditions of risk and uncertainly. Demand, cost and pricing decisions are emphasized. Topics include decision-making criteria and procedures, demand and cost theory and estimation, pricing theory and practice (including price positioning), pricing new products and competitive bids and price quotes.

Learning Objective

  • Managerial Economics is concerned with the application of economic principles and methodologies to key management decisions within organizations. It provides principles to foster the goals of the organization, as well as a better understanding of the external business environment in which an organization operates. A primary purp ose of the course is to develop tools useful in other Anderson courses since economics is the foundation for much of what is taught in finance, marketing, business strategy and many other courses in the MBA program. Manageri al Economics is fundamentally a unique way of thinking about problems, issues and decisions that managers face in each of the functional areas of the organization as well as the strategic ones faced by general managers.

Credits

    3

Books for this Course

  • Mark Hirschey, Managerial Economics, 10th edition, Thomson/South-Western College Publishing: 2003

Times Offered

  • September 2015
  • January 2016

Course Prerequisite

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