22 MG 640 Spring Syllabus 2016

22 MG 640 Spring Syllabus 2016 - COURSE SYLLABUS COURSE...

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COURSE SYLLABUS COURSE INFORMATION: Instructor: Prof D. Rawana Course Name : Managerial Economics Course Number: MG 640 Email: [email protected] ([email protected]) Office Hours: Monday 3:15-pm-4:0015 pm; NR Monday 5:00pm-6:30pm; Bronx Thursday 5:00pm-6:00pm Queens Office: U211 Bronx / and 145 Huguenot, New Rochelle COURSE DESCRIPTION: Managerial Economics is an applied branch of microeconomics. In the latter part of the semester, we will explore the macro economy, including GDP, Inflation, Unemployment, and International Trade. Microeconomics examines resource-allocation and tactical decisions that are made by analysts, managers, and consultants in the private, public, and not-for-profit sectors of the economy. In this course students are introduced to key economic concepts and tools addressing the decision-making process. Also, students examine the philosophy of optimization, the role of profit, and the relationship between managerial economics and other areas of business and economic analysis. Specific topics include the fundamental economic concepts of marginal analysis , net present value , risk, and decision analysis. The course also critically looks at areas of demand and forecasting, production and cost , pricing and output decisions; including strategy and tactics, long-term investment decisions, and risk management in the private and the public not-for-profit sectors of the economy. Students will be required to apply economic tools to solve business problems using case analysis from a wide array of industries. PREREQUISITES: EC 591 and MG 620 COURSE OBJECTIVE: Upon completion of this course, students will be able to: 1 Illustrate how the market forces of demand and market supply are used to establish market equilibrium price; how the equilibrium price is adjusted in response to changes in the non-price determinants, and comparative statics about questions related to supply/demand curve, equilibrium, supply/demand diagrams.
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