BUS 581 - Managerial Economics, 3 credit hours

This course presents an introduction to economic issues relevant to modern day managers. The course coverage includes a range of both microeconomic and macroeconomic subjects. The course allows students to apply microeconomic theory to firm management, and learn how to use microeconomics to enhance decision making. Further, the course introduces students to macroeconomic indicators and their importance to business performance. Topics covered include demand and supply analysis, consumer theory, market price and output, production, cost, simple competitive market equilibrium, simple monopoly pricing and output determination, price discrimination, and bundling for the microeconomics portion of the course. The macroeconomics section will cover unemployment, inflation, monetary and fiscal policy, economic growth, the causes and consequences of recessions, and issues in global economics.