Managerial Economics
– Demonstrate the purpose of managerial economics.
– Analyze decision-making strategies using the six-step model.
– Compute a firm’s profit-maximizing level of output using marginal analysis.
– Construct a decision-making process taking into account every step of the 6-step model.
– Appraise the effectiveness of situations of price discrimination.
-Analyze the determinants of price discrimination.
-Differentiate between short-run and long-run profit-maximization strategies.
– Examine the influence of marginal input costs on production decisions.
– Examine the difference between economies of scale and economies of scope.
-Apply optimization concepts to cost minimization and optimal decision making.
-Differentiate between the factors that create movements along demand and supply curves, and those that shift these curves.
-Analyze complex business decisions using marginal analysis.
-Assess competitive and monopolistic outcomes.
-Synthesize the pricing strategies of the four dominant market structures.
-Assess a specific industry in terms of its market structure and its pricing behavior.
-Evaluate the demand and pricing of information goods.
