3.0

credits

Average Course Rating

The field of managerial economics integrates the concepts of microeconomics and logical decisionmaking to facilitate the development of organizational policies and strategies. These organizational policies and strategies in turn, provide leaders with an effective cost-benefit analysis for implementing change. In this course, students study the principles governing managerial economics and apply them to guide the allocation of limited resources to competing entities within the organization. The goal is to optimize spending to maximize value and output. This course recognizes the impact of markets and the challenges of managing production and performance costs. Students then have the opportunity to build skills for distinguishing between business decisions that provide an immediate benefit return, and those decisions designed for longer term investment. The course also addresses optimization tools and techniques to strengthen decision-making during times of uncertainty.