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| Course ID: ECON 502 |
| Programs: MBA |
| Pre-requisites: ECON 211 OR EQUIVALENT |
This is an economics course with emphasis on the application of economic principles and methodologies to managerial decision problems. The fundamental principles of microeconomics are surveyed , and how they apply to managerial decision-making is demonstrated. The course is highlighted throughout the full range of micro, macro, and international issues. Major topics include policy issues that emphasizes the markets vs. government dilemma, , macro theory in the single consistent context of the AS/AD framework, and how policymakers must choose between government intervention and market reliance to resolve the core issues of what, how, and for whom to produce. This course is designed to provide participants with a basic understanding of microeconomic theory that can be used to understand behavior (in markets and organizations) and to make effective managerial decisions. It is intended to provide students with economic tools and an economic analysis used in the process of managerial decision making. The course concentrates on microeconomic analysis, which deals with models of economic behavior of the consumer and the firm and will provide a basic understanding of firm and industry behavior that serves as a basis for decision making.
Schiller, Bradley. The Economy Today 12th Ed. ISBN 9780073375892.
ECON502 is chapters 1-4, 19, 22-25, and 27. This textbook is also used in ECON-503.