The objective of managerial economics is to explore how economic theory and decision science tools can assist in the formulation of optimal solutions to managerial decision problems. The course applies many familiar concepts from economics such as demand and cost, monopoly and competition, the allocation of resources and economic trade-offs, level of economic activity, macro-economic policy, and the impact of globalisation.
Students will also acquire quantitative skills in business and economic forecasting. At the end of the course, students should be able to use these analytical tools within the economic framework on real-world business applications.
This course aims to provide students with the knowledge and skills to manage a business in the international arena and to familiarise them as managers and leaders with the range of strategies available to compete more effectively in today’s rapidly emerging global economy.
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