The course incorporates a basic understanding of economic theory and analytical tools that can be used in decision-making problems with advanced quantitative techniques used by successful business organizations. It also deals with the application of economic theory and methodology to managerial decision-making (see AUA Academic Bulletin).
- [Prerequisites: Principles of Microeconomics and Statistics].
Revision of previous learning in microeconomics course/paper would be extremely useful. Again, knowledge in basic calculus and statistics are required to make use of the quantitative approaches.
- Course Objective: The paper is designed to equip both current and future managers with managerial decision-making tools and problem-solving skills that rely on economic theory and its application to real-world everyday managerial problems. The genre is embedded in microeconomic theory and analytical tools applicable to managerial economic decisions. Key concepts to explore include constraint optimization problems demand estimation and analysis and forecasting using regression analysis, production and cost analysis, pricing and output decision.
This course is designed to broaden the instructional repertoire of Bible teachers interested in improving the teaching/learning process by combining an in-depth knowledge of the subject matter, an understanding of learning processes, decision-making abilities, human relations skills, and appropriate communication techniques into a unified act, resulting in enhanced learning for students. The course incorporates a workshop approach in which the power and usefulness of a variety of teaching models are examined, and which allows the application of specific teaching/learning strategies in a supportive environment.