Examination of the impact of the economic environment on business decision-making. Discussions focus on macro- and microeconomic topics with particular emphasis on marginal analysis and supply and demand considerations. Prerequisite: BUSI 508.
Prerequisite(s) / Corequisite(s):
Most current editions of the following:
Managerial Economics: Applications, Strategy, and Tactics
By McGuigan, James R., Moyer, R. Charles, Harris, Frederick H. (Thomson Southwestern) Recommended
Economics for Managers
By Farnham (Prentice Hall) Recommended
Transactions and Strategies
By Michaels (Southwestern/Cengage) Recommended
By Froeb, McCann, Ward, Sitter (Cengage) Recommended
Course Learning Outcomes
Apply the modern theory of market forces
Quantitatively analyze demand and supply
Analyze pricing strategies for firms with market power and/or where market imperfections occur
Describe and evaluate the role of government in the marketplace
Explain the international dimensions of managerial economics
Major Topics/Skills to be Covered:
This course may include a written and/or oral presentation component.
The fundamentals of managerial economics.
Market forces: demand and supply.
Quantitative demand analysis: demand elasticity and demand estimation.
The theory of individual behavior.
The theory of production.
Pricing strategies for firms with market power
Recommended maximum class size for this course: 15
NOTE: The intention of this master course syllabus is to provide an outline of the contents of this course, as specified by
the faculty of Columbia College, regardless of who teaches the course, when it is taught, or where it is taught. Faculty members teaching this
course for Columbia College are expected to facilitate learning pursuant to the course learning outcomes and cover the subjects listed in the Major Topics/Skills to be Covered section.
However, instructors are also encouraged to cover additional topics of interest so long as those topics are relevant to the course's
subject. The master syllabus is, therefore, prescriptive in nature but also allows for a diversity of individual approaches to course material.