MGRECON 780 - Managerial Economics

Course Description

This course examines market behavior and focuses on the actions and reactions of business firms and consumers in a variety of market environments. The impact of different market structures (including perfect competition, monopoly and oligopoly) on production and consumption is analyzed.

Course Objectives

To master the basic tools of microeconomics: supply and demand analysis; firms’ production and pricing decisions, market equilibrium and market structure analysis, the principles of strategic behavior.

To introduce analytical foundation for managerial decision-making, and for the design of a firm's competitive strategy.

To develop a framework for understanding the role and consequences of government policy in a market economy.

Course Texts

Required: Robert S. Pindyck and Daniel L. Rubinfeld, Microeconomics, Seventh edition, Prentice Hall, 2000.
Optional: Study Guide for P & R Microeconomics.

A course packet for MGRECON 780 containing a set of Readings, copies of key overhead transparencies, Problem Set Questions, and Problem Set Solutions.

Course Grading

Grading is based on a Quiz, two Exams, Class Exercises, Homework and Class Participation.

Course Topics

Specific topics to be covered include: Supply and Demand Analysis, Demand Functions, Demand Estimation, Production, Costs, Supply, Competitive Markets, Monopoly and Pricing, Oligopoly, Game Theory.