Managers and Economics (Chapter 1) - Economic Analysis for Managers | Business Economics

Managers and Economics (Chapter 1) - Economic Analysis for Managers | Business Economics Subscribe this channel to get more knowledge,Lectures,Presentations etc. Youtube: https://www.youtube.com/channel/UCuBvNmo-Q42RPTisa-b1_-w?sub_confirmation=1 Facebook: https://www.facebook.com/g8knowledge Twitter: https://www.twitter.com/g8knowledge Instragram: https://www.instagram.com/knowledgeget Course Description: The course is about the major economic decisions and what are the major concepts to be kept in mind for doing analysis at the managerial level like Demand, Supply and equilibrium, elasticities, Production and cost Analysis, Market structure, Pricing Strategies for the Firm, The Aggregate Model of the Macro Economy. Course Objectives: This course enables the student to: 1. Understand how markets operate, including the role of competitive market forces affecting consumer demand and producer supply and their influence on prices. 2. Understand the effects on firm pricing strategies and other firm conduct and performance of various industry market structures. 3. Understand the role of influences affecting aggregate expenditure on goods and service, including the role of central bank and financial markets. 4. Understand international balance of payment issues and their impact on foreign markets and exchange rates. 5. Be able to integrate microeconomics and macroeconomic concepts to analyze the local and international industries. 6. Be able to develop a competitive strategy in a global economy. Learning Outcomes: After completing this course a student will be able to: 1. Be able to integrate microeconomics and macroeconomic concepts to analyze the local and international industries. 2. Be able to develop a competitive strategy in a global economy. 3. Analyze the efficient ways of scarce resources. 4. To have a complete understanding of demand and supply and its estimation. 5. Can analyze the short run and long run production function. 2 | P a g e 6. Elaborate the concept of opportunity cost and its use to analyze different investment alternatives. 7. The Economic problem of allocation and distribution of resources. 8. Describe and analyze the total revenue, average and marginal revenue. 9. Discuss total cost and its different features. 10. Discuss different examples related to this market structure. 11. To understand and apply the measurement of GDP and its components. 12. Be able to use of economic indicators to forecast and set the economic trend. 13. Be able to understand and analyze the role of money in economic growth. 14. To develop the business strategies keeping the government policies and their impact on it, i.e. monetary and fiscal impacts. 15. To use the effective and flexible policies under different exchange rate regimes. Course Contents: Topics to be covered: Managers and Economics  Microeconomic Influences on Managers  Macroeconomic Influences on Managers  Market Structure  Circular Flow of Economic Activity  Overview of the Classical and Keynesian economics