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About this document
- Pages
- 15 pages
- Price
- $15 one-time, yours to keep
- Membership
- Included in every plan
- Format
- Subject
- Business Management, Economics
- Module
- ECO/561
This syllabus outlines the course ECO/561 Economics for Managers. It covers topics such as increasing revenue, cost concepts, market structure, macroeconomic conditions, credit markets, globalization, and improving business decisions. It includes details on course assignments, readings, and discussion questions.
What's inside
- Course description and topics
- Weekly course objectives
- Course materials and readings
- Assignment details and point values
- Weekly course assignments and activities
Who it is for: Students enrolled in the ECO/561 Economics for Managers course. (Postgraduate)
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Summary
Economics for managers covers basic economics and how to use it to make business decisions. Students learn to apply economic concepts to real-world business problems.
Revenue and market equilibrium
Scarcity and opportunity costs are discussed. Students learn to increase revenue and explain market equilibrium.
Costs and profit maximization
Production levels and cost balancing are covered. Students apply economic cost concepts to business decisions.
Market structure and pricing
Pricing strategies and barriers to entry are explained. Students learn to increase product differentiation and reduce costs.
Macroeconomic conditions and credit markets
The business cycle and macroeconomic indicators are covered. Students project the effects of credit markets and global economic conditions.
Key terms
- Scarcity
- A situation where resources are limited.
- Opportunity cost
- The cost of choosing one option over another.
- Market equilibrium
- The point where quantity demanded equals quantity supplied.
- Fixed costs
- Costs that do not change with the level of production.
- Variable costs
- Costs that change with the level of production.
- Product differentiation
- Making a product different from competitors' products.
Questions this document helps with
- How can economic concepts increase revenue?
- What pricing strategy should be used?
- How do credit markets affect the economy?
Summary written with AI from the document's text.
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