Economic Analysis For Business Decisions

ECN7500 Economic Analysis for Business Decisions
3 Elective CreditsIf you have taken and passed ECN7200 you cannot register for ECN7500 as these two courses are equivalent

Running a successful business requires decision-making that is informed by an understanding of the market environment in which the firm operates. Business leaders and entrepreneurs need analytical skills and the ability to anticipate market dynamics if they are going to manage for growth. Economic Analysis for Business Decisions provides students strategic and tactical competencies such as: sizing market demand, identifying market opportunities, differentiating products and services effectively, strategic pricing, cost modeling, determining optimal firm size and identifying sources of market power. With these competencies in hand, students will then develop the ability to determine the best competitive strategies based on a clear understanding of an industry's structure and behavior, and the firm's advantages within the larger market. Students will use game theory to model strategic behavior, consider the firm's responsibilities and the government's role in correcting market failures, and will leave the course with an ability to create business models that will grow stakeholder value.

Prerequisites: None