Description
This course addresses topics of how economic environment affects business decisions. It covers the core knowledge of economics for business in order to better manage scarce resources for sustainability.
It is a highly practical course that explains the use of economic and noneconomic information in the business context. The course also enhances skills in analyzing and interpreting economic information in the context of the organization, its competitors and industry.
Objectives
Assess the implications of economic policies and trends on business firms and related industry.
Employ evidence from literature to evaluate the relevant causes and effects related to government policies in Asian Economics.
Demonstrate effective communication on managerial economics issues to relevant stakeholders.
Integrate ethics in analysing economics matters in making business decisions.
Outlines
UNIT 01 -Introduction to the Course
Course Outline
Course Guide
Introduction to Managerial Decision Making
The Economics of a Business
An Overview of Important Economic Terms and Concepts
UNIT 02- Supply and Demand
UNIT 03- Market Demand
UNIT 04- Market Supply
UNIT 05- Market Equilibrium The Firm and Its Goals
UNIT 06- The Economic Goals of A Firm
UNIT 07- Maximizing the Wealth of Shareholders
UNIT 08- Economic Profits Empirical Methods for Demand Analysis
UNIT 09- The Economic Concept of Elasticity, Elasticity Measures, Elasticity of Supply" Consumer Choice: Demand Estimation and Forecasting
UNIT 10- Regression Analysis, Regression Analysis in Economic Research Forecasting Techniques Production and costs in economics The Theory and Estimation of Production
Lessons:
EN 
AR