Course Code & Number
ECON 491
Course Title
Managerial Economics
Level
BS
Credit Hours/ ECTS Credits
(3+0+0) 3 TEDU Credits, 6 ECTS Credits
Year of Study:
Senior
Semester:
Fall
Type of Course:
Elective
Mode of Delivery:
Face-to-face
Language of Instruction:
English
Pre-requisite / Co-requisite:
Pre-requisites: NONE
Co-requisites: NONE
Catalog Description
Application of economic principles and methodologies to business decision problems. Quantitative and qualitative applications of economic principle to business analysis. Demand, costs and market structure. Pricing. Product choice and resource allocation. Industrial organization.
Course Objectives
The aim of this course is to introduce students the quantitative and qualitative applications of economic principle to business analysis. Students would explain demand, cost , market structure and pricing.
Course Learning Outcomes
Upon succesful completion of this course, a student will be able to
1. Apply economic principles and methodologies to business decision problems.
2. Explain and analyse the nature of production and its relationship to costs.
3. Compare and contrast production and cost in the short run and long run.
4. Derive and analyse the relationship between factors influencing demand and quantity demanded.
5. Explain managerial decisions in competitive markets.
6. Select and apply appropriate pricing strategies to imperfect market states.