ECON 491

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::

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.