Managerial economics examines the applications of economics analysis to practical problems in the private and public sector. This course will introduce students how business managers utilize macroeconomic theory and tools to make business decisions. The content of this part will mainly be divided into 3 parts: decisions with firms, market competitions, and decision-making applications. The focus will mainly be in the first two sections. This course also prepares students for further studies in the field of accounting, marketing, management, and finance. Essential topics covered in this course include demand and cost analysis, price theory, market structure, game theory and so on.
Students have a solid foundation on introductory level microeconomics theory, maximization/minimization techniques, graphical methods and partial derivatives will feel more comfortable in the class.