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.