This course is an introduction to the fundamentals of managerial economics, focusing on microeconomics. Managerial Economics expands upon basic economic concepts and applies them to current managerial issues. Economic theory and analysis are important means of understanding both the economy in which individuals and firms function as well as the tools of management decision-making in the private, public, and not-for-profit arenas. The course will cover basic economic relationships, including analysis at the margin, supply and demand theory, production theory, capital theory, profit maximization and cost minimization, firm structure, and types of markets. Quantitative skills developed include statistics, graphing, and game theory.

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