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ECON 210 Economic Analysis for Business Decisions (3 Credits)

Students will acquire analytical tools needed in evaluating economic decisions of market firms with a focus on market formation, industrial performance, and strategic communication. Behavior of individual markets concentrating on cost analysis and demand/supply determinants will be examined. Implications of regulatory policies and economics on business activities will also be investigated.

Learning Outcomes:

  • Understand the functions associated with managerial economics.
  • Identify the sources and give examples of accounting profits.
  • Understand and explain the concept of profit maximization.
  • Define the demand function and demonstrate the demand schedule.
  • Calculate and explain the point price elasticity concept.
  • Design consumer surveys.
  • Identify and give examples of econometric model.
  • Calculate and implement input-output analysis.