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Economics for Managers
Economics for Managers
Introduces the student to economic principles of particular interest to the
firm manager. The course is divided roughly into two parts that deal with
macroeconomic and microeconomic issues. In the macro section such key
aggregates as gross domestic product, unemployment rate, inflation rate, and
balance of payments, which are of importance to the firm manager, are
discussed. Discussions focus on a critical examination of how these
aggregates are measured and determined in various competing theoretical
models. The theory discussed here then serves as an analytical tool in
understanding and evaluating economic policies related to such current
economic issues as unemployment, inflation, and trade imbalances. In the
micro section, emphasis is given to a) the theory of markets, how prices and
quantities are determined in markets and factors that affect these prices
and quantities; and b) how firms compete in different market environments.
Besides concentrating on the theory, special attention is given to how the
concepts covered are applied to real world microeconomic problems.
