Managerial Economics: (MBA 806)

This course focuses on how to help managers make optimal decisions in different circumstances. This course considers how the actions of business firms, consumers, and the government - operating within a price system in a decentralized market economy - answer such basic resource allocation questions as what will be produced, how it will be produced, who will consume what is produced, and what resources to divert from present consumption to increase future consumption. The impact of various types of market structures (such as perfect competition, monopoly, and oligopoly) on economic efficiency will be discussed. The generality of the frameworks – combined with practical industry applications – will help one think about all the different kinds of markets you will encounter across different careers.