Course Description
Introduction of the basic tools of microeconomics and macroeconomics. Microeconomic concepts of supply and demand, production, cost, and market structure are combined with macroeconomic issues concerning fiscal and monetary policy to develop an understanding of the relationship between an enterprise and the economic environment in which it exists.
Athena Title
Economic Analysis
Equivalent Courses
Not open to students with credit in EMBA 7010E
Semester Course Offered
Offered fall
Grading System
A - F (Traditional)
Course Objectives
After completing this course, students will be able to 1. understand people better; 2. grasp the basic economic problems managers of organizations face; 3. recognize the market characteristics that constrain managers' actions; 4. think strategically about how to enhance the value of an organization; 5. appreciate the importance of a nation's total output to the well-being of its citizens; 6. comprehend the fundamental determinants of a nation's long- run economic growth; 7. explain the role of labor markets, financial markets, and money when resources are fully employed; 8. assess alternative government policies aimed at mitigating the costs of macroeconomic instability; and 9. understand the basic nature of financial crises.
Topical Outline
1. The standard choice model 2. Markets, information, incentives and firm boundaries 3. Demand 4. Supply 5. Market structure 6. Pricing with market power 7. Some economics of strategy 8. Adverse selection and agency problems 9. GDP and the circular flow 10. Economic growth 11. Employment, wages and potential output 12. Consumption, saving, investment and interest rates 13. Money and inflation 14. The short-run economy: aggregate demand and supply 15. Stabilization policy and financial crises
Syllabus