BUSS230 - Managerial Economics

BUSS230 - Managerial Economics
Course Number	BUSS230
Number of Credit Hours	3
Course Subject	Business
Taught at	Olayan School of Business

Course Description

Managerial Economics is the use of economic theory and mathematical and statistical techniques in order to examine how a firm can make optimal managerial decisions given the constraints it faces. The main objective of this course is to equip students with the necessary theory and techniques and the ability to apply them in order to inform and enhance managerial decision making. Topics covered include: goals of the firm, optimization techniques, demand theory and estimation, forecasting and measurement, theory of production and estimation, cost theory and estimation, pricing and output determination under different market structures, game theory, and pricing in practice.

Topical Coverage

The Nature and Scope of Managerial Economics, Optimization Techniques, Demand Theory, Demand Estimation, Demand Forecasting_Topic, Production Theory and Estimation, Cost Theory and Estimation, Market Structure: Perfect Competition Monopoly and Monopolistic Competition, Oligopoly and Firm Architecture, Game Theory and Strategic Behavior, Pricing Practices

Learning Goals

BUSS230_B-LG1: Business Professional Knowledge & Competence, BUSS230_B-LG2: Decision Making

Specific Learning Objectives

BUSS230_B-LG1.1: Business Professional Knowledge & Competence, BUSS230_B-LG2.1: Decision Making

Prerequisite Courses

BUSS200 - Business Data Analysis, ECON211 - Elementary Microeconomics Theory

Instructional Methodology

Lecture, Class Discussion, Assignment

Performance Evaluation

BUSS230_Midterm Exam, BUSS230_Final Exam, BUSS230_Assignments, BUSS230_Attendance and Participation