ECN 604 Economics for Managers
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This ECN 604 Economics for Managers module aims to simplify complex economic concepts and empower students to implement them within a business. Students wishing to enter an interdisciplinary work environment need to understand these concepts, and this module can meet these needs.
- Supply and demand
- Decrease in marginal profit
- Production function and competitive market
- Market equilibrium and government
- Oligopoly
- Game theory and strategic decision
- GDP measures
- Comparative advantage and international trade
- Inflation and price index
- Tax and budget deficits
Learning outcome: If you complete the course, you will be able to:
- Describe and evaluate how the company makes decisions and the factors that determine those decisions.
- Understand how policy changes affect business and consumer behaviour.
- Explain and evaluate the concept of market failure.
- Determine the relationship between the current economic environment and economic theory. Understand and critically assess recent economic analysis and research conducted in the business environment.
- Apply financial concepts to real life and accept unspoken assumptions.
- Use analytical tools and techniques to determine the importance of various factors in making business decisions.
- Use a lean mindset, Technology for efficient allocation of limited resources.
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