By the end of this course, you will be able to
How to apply the economic way of thinking to business decisions, understand how prices get determined, and how market participants benefit from consumer surplus.
How to measure the responsiveness of consumers' demand to changes in the price of a good or service, understand various costs of production and how they affect decisions.
How the game theory can be used to explain a number of business decisions and understand why there is a role for the government to play in market economies.
Course details
- 0 h 52 m/8 lessons
- Last updated: 10/3/2019
- Course completion certificate
Course Content
What Is Managerial Economics And How Do We Apply It?
What Is Managerial Economics And How Do We Apply It?
Demand Theory-What Are Customers Looking For?
What Should We Produce
Cost And Price
Behavioral Economics
Technological Revolutions And Economy
Practicing Economics Amongst The Competition
Wrap Up
About this course
Managers can use economics to strategize and solve a variety of business problems, from tactical to strategic. In this course, you will understand how to use economic theory to answer strategic questions: What are the customers buying? What should we produce? Which costs do I need to worry about now? What market am I in? what should we charge for it? You will understand what managerial economics looks like in practice; the course covers how to employ the principles of game theory and how understanding this can help decision-makers outmanoeuvre their competitors.
Course requirements and prerequisites
There are no requirements for this course. Your interest in the topic and your committment to learning are all you need to achieve the utmost benefit from this course.
Mentor
Khaled El Kafrawy
Business And Organizational Development Consultant
846 Learners
1 Course