Managerial Economics - Effective Business Decisionmaking

About This Course

Learn How Businesses Apply Economic Principles to Formulate Effective Decisions

Welcome!

Managerial Economics is a field of Economics that analyzes business decisions. Managerial Economics allows business owners to answer the questions "How much should I produce?" and "What price should I charge?".  However, there is much more to Managerial Economics than simply determining the optimum price and quantity that a firm should produce. Managerial Economics also allows us to determine how our business will be affected by changes in the production of other businesses. It allows us to predict the impact that certain government legislation will have on our business.  This course will examine business decisions from both the perspective of the supplier and the consumer. 

Topics Covered

• Market Equilibrium

• Price Controls

• Law of Supply and Demand

• Indifference Curves and Budget Constraints

• Elasticity of Demand

• Isoquant and Isocost Curves

• Minimizing Cost of Production

• Market Structure

• Pricing Strategies

• Benefits of Mergers

• Employee Incentives

• Time Value of Money

About the Instructor

Robert Reed is a current Masters of Business Administration candidate and veteran with four years of service in the 82nd Airborne Division of the United States Army. He holds a B.A. in Economics and has served as a student tutor for three years.

*This course is not intended to give any specific business advice or investment advice, but rather represents an introduction to Managerial Economics that is designed to help you better understand the key concepts. *

• Evaluate business decisions from an economic perspective

• Analyze the behavior of companies in the marketplace

• Comprehend core concepts in managerial economics