MGRECON 780 - Managerial Economics
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.
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.
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.
Grading is based on a Quiz, two Exams, Class Exercises, Homework and Class Participation.
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.