Managerial Economics

1.5 Credits · Level: Graduate

Managerial Economics introduces the fundamental concepts of economics—the “mother tongue” of all business. It provides the foundation for understanding a wide range of other business disciplines, including finance, strategy, and operations management. The course equips students with tools to make economically sound business decisions and to understand the conditions that shape profitability across industries. It begins with core economic concepts such as supply and demand, costs, and market equilibrium. Then it examines how firms behave under different market structures—from perfect competition to monopoly and oligopoly. It explores how firms set prices, decide when to enter or exit markets, and respond to competitors. The course then introduces game-theoretic reasoning to analyze interactions among firms and concludes by examining relationships along firms’ value chains, as well as sources of market failure and approaches to addressing them. Throughout, students develop the ability to apply economic reasoning to think analytically about real-world business problems and to build a foundation for future coursework in strategic management and related fields.