Managerial Economics

This course introduces the basic principles of economics and their applications to managerial decision-making. The course begins with the analysis of the decision making of individual consumers and producers. The course then examines how consumers and producers interact with one another in a variety of market settings ranging from situations in which firms have many competitors and few tactical options to those in which there are a small number of firms competing vigorously along several strategic dimensions. Applications covered include decision making in risky situations, pricing policies in firms, and the relationship between market structure and the strategic choices that are open to the firm.