ECON 433: Managerial Economics

Course Description

This course draws heavily on marginal economic analysis, quantitative optimization techniques, and statistical procedures to help management achieve established objectives. Management objectives are studied in a framework of short run profit maximization as well as in a long run framework. This long run theory of behavior encompasses a time dimension where the primary goal of a manager becomes wealth maximization rather than short run profit maximization.  Finally, an important element in the class is the relationship between the firm and society. Managerial Economics clarifies the role firms play in society and identifies means of increasing their benefits to society.  Prerequisites: (ECON 201 or 209 and ECON 202 or 208; and ECON 210 or MATH 301 with a grade of C or better in each class) AND EITHER (Admitted Business majors; Admitted Econ Bus majors, Econ COLS majors & minors) OR (30 credits with no more than 21 credits of 300/400 level College of Business courses and 2.5 GPA) Special course fees may apply.