Course Description
Development and application decision making tools from managerial economics. Specific focus is given to agricultural, food, and fiber industries.
Athena Title
Econ Tools Business Decisions
Prerequisite
AAEC 3580-3580L or permission of department
Semester Course Offered
Offered spring
Grading System
A - F (Traditional)
Course Objectives
Examine and explore decisions business managers face in food and fiber industries Develop an understanding of economic analysis used to guide decision making Apply economic tools used for business management to specific problem sets
Topical Outline
Students will develop and apply decision making tools from managerial economics with specific focus on agricultural, food, and fiber industries. In particular, the course will cover the following topics: I. Firm decision making a. Economic analysis of firm behavior b. Quantitative demand analysis c. Firm pricing decisions II. Firm production analysis a. Firm production costs b. Managing Costs of production c. Decision making with uncertainty III. Decision making applications a. Cost management strategies b. Risk management c. Miscellaneous tools
Syllabus
Public CV