MBA 531 Applied Managerial Economics

Organizations of the future must be able to adapt rapidly to a dynamic economic environment. Strategy, stakeholders, and information-based decision-making are the most important elements of managerial economics in a strategic systems organizational environment. Within this context, the course will provide an in-depth analysis of demand and supply market pricing and customer behavior. Topics will include estimating production costs and profit maximization in different market environments; fundamentals of project analysis; how customers choose goods and services; and strategies for hiring, pricing, production, and advertising.

Credits

3

Prerequisite

MBA 500, MBA 501

Outcomes

1. This course will prepare students to:
2. Analyze costs to optimize production.
3. Examine how demand analysis is used to determine optimal pricing.
4. Estimate and forecast demand.
5. Assess how managerial decisions are made when using marginal analysis.
6. Compare and contrast the characteristics of different types of market structures.
7. Apply managerial decision making strategies for different types of uncertainty, information, and organization design.