AGEC 406: Managerial and Business Economics

The purpose of the course is to introduce students to the economic environment in which businesses operate, and provide an understanding of how economic principles are applied in management and business. Course content: The scope and nature of managerial and business Economics; Internal organization of firms; The firm and its Environment; Alternative Business objectives; Markets and industries; Demand estimation and forecasting; Production and costs; Linear Programming and production Structures; Pricing practices; Decision making under uncertainty; Capital budgeting; The economics of Human Resource Management; Business information; Forms of business organization; The role of government in the market economy.