Overview
-
Learn how to use economics to make better business decisions. Explore economic theories to strategize and solve business problems from demand and competition to pricing products.
Syllabus
-
Introduction
- Making better managerial economic decisions
- What is managerial economics?
- Use economics to solve business problems
- Demand curve
- Price elasticity
- Real world elasticities
- Shift of the demand curve
- Economic profit versus accounting profit
- Economies of scale
- Economies of scale versus scope
- The law of diminishing returns
- Break-even analysis
- What-if analysis for constant profit
- Profit maximization
- Price discrimination
- Google's money making machine
- Price increases and competitive reaction
- Economic fallacies
- Elements of an economic decision
