Business Administration (Graduate)
Approved course information last updated: 1 month, 3 weeks ago
Pre-requisites: None
Requisite To: None
Lab Session:
The course emphasizes the practical application of economic theory to managerial decision-making and problem-solving. Topics include an overview of managerial economics, maximization and optimization, decision analysis under risk and uncertainty, demand analysis, demand elasticity, empirical demand functions, demand forecasting, the theory of cost, cost analysis and estimation in the short run and in the long run, market structure, competition, monopolistic competition, pricing practices and the impact of government on business today.
- Understand and apply economics demand and supply models and tools to make informed managerial decisions.
- Understand the theory of the firms, and the different market structures. analyze the firms behavior, pricing and production strategies within each of these structures.
- Acquire an understanding of the game theory principles and apply it to different economics situations.
- Analyze decision-making problems under uncertainty.