This course focuses on the issues of resource allocation within a business. Students will examine how managers can utilize the tools of economics, accounting/finance, and decision theory to aid in these critical decisions. The course will consider how differences and changes in the internal operating conditions and in the external political-economic environment can affect a manager's resource allocation decisions. Topics include incremental analysis, short- and long-run decision-making and basic financial analysis.
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Upon successful completion, the student will be able to:
Articulate key concepts of managerial economics.
Use cost analysis to make effective business decisions.
Discuss and apply models of supply and demand.
Apply the cost-benefit principle to solve business problems.
Analyze the impact of internal operating conditions and the external political/economic environment in resource allocation decisions.
Assess business problems to determine effective application of tools from the fields of economics, accounting/finance, and decision theory.
Effective as of Fall 2014
ECON 5000 is offered as a part of the following programs:
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