Introduction to Managerial Economics

Managerial Economics makes use of economic theory and concepts and helps in formulating logical managerial decisions.

What you’ll learn
Explain What is Managerial Economics
Describe the Purpose of Managerial Economics
Explain the Principles of Managerial Economics
List the Objectives of a Business Firm
Describe the Role of Environmental Analysis in ME
Explain Role of Cost Analysis in ME
Explain the Classification of Market Structures
Explain What is Demand
Explain the Law of Demand
Explain the Why Demand Curve has Negative Slope
List the Exceptions to Law of Demand
Explain Price Elasticity of Supply & Supply Curve
Describe Determinants of Price Elasticity of Supply
Explain How Managers can Apply ME
List the Benefits of Managerial Economics
Requirements
No prior knowledge is needed.
Description
This is an interesting course for business people especially the retailers who must understand the concept of demand and supply in smooth and successful running of the business. After reading this course, one can get a clear idea about What is Managerial Economics, Principles of Managerial Economics, Classification of Market Structures, Law of Demand, Price Elasticity of Supply & Supply Curve, etc.

The introduction part itself clearly explains the importance of demand and supply in a business with the help of a wonderful example.Tables and graphs are used to explain the various concepts of economics clearly.There is one real life example in the course which explains about the law of diminishing marginal utility.It also explains how the marginal utility diminishes with the consumption of each unit. Each and every concept is very well laid and explained in this course and the practice section at the end of the course is very interesting.

Who this course is for:
Managers and Retailers
Economics Students