Managerial Economics: Econ 503

Managerial Economics: MSc. in Accounting, Finance and Business Administration

This course covers the essential principles and tools of Managerial Economics, the application of microeconomics to management decisions. Students who master this material will be better prepared for leadership positions in business, not-for profit, and government entities.

By the end of this course you will be able to obtain:

• Basic knowledge of the theory and applications of economics relevant to business situations – particularly microeconomics - and its relation to other social and administrative sciences.
• Knowledge and understanding of applications to the business world.
• Knowledge of data sources, methods of collection and evaluations.
• Ability to think critically and analytically.
• Ability to do research and to make use of information from primary and secondary sources in support of a valid thesis and argument.
• Ability to compare, evaluate and make decisions.
• Ability to determine, study, analyze and comprehend economic problems arising in the business area.

Course Learning Outcomes

On successful completion of this course, students will be expected to demonstrate their abilities to:

• Recognize the concepts of microeconomics from management perspective
• State microeconomics problem from management perspective.
• Provide solution to microeconomics problem from management perspective
• Design microeconomic models appropriate for management economic analysis.
• Develop suitable economic concept related to management economic analysis.
• Understand the different aspects of microeconomic principles and concepts 
• Demonstrate great knowledge in dealing with microeconomic theory
• Interpret effectively the microeconomic theories and facts from management economics perspectives.
• Demonstrate the virtue of teamwork in examining management economic issues.
• Justify the argument through management economic reasoning.