|
Course Objectives
This course is designe d to provide you with a foundation in Managerial and Business Economics. It
will deal mainly with the resource allocation decision(s) that a firm faces. Examples of the type of questions we will address include: How much to produce? What price
to charge? How to produce the product? How and whether to substitute one input for another? We will also spend time on forecasting and model building.
The course is composed of four parts. The first part addresses the tools of analysis and
optimization. The second part deals with demand analysis and forecasting, The third section will deal with production and cost analysis. And the last section deals with the
pricing decision. Upon the completion of this course you should have an understanding of the above four parts and be able to use the concepts and tools in arriving at managerial decisions. A
particularly significant point to keep in mind, as you study the material, is the importance of the free market context within which these managerial decisions are made.
|
