The course deals with economic questions relevant to business decisions, supplemented by case studies. It builds on concepts discussed in Economics for Business & Management. Management applications of theories on comnsumer and producer decision-making will be considered. Emphasis will be placed on use of optimization techniques to determine optimal courses of action of these decision makers.
Techniques for forecasting and demand estimation will be introduced. Some time will be spent discussing the economic impact of various government policies, such as price controls, taxes and subsidies.