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Subject: Economics (Grad) (GBEC)
CRN: 30304
Face-to-Face 51-75% of time
Minneapolis: Terrence Murphy Hall 357
Online
Requirements Met:
Part-time MBA
This course focuses on the application of microeconomic tools and concepts to business decision-making. Every organization faces numerous decisions. Every decision-maker faces limits of money, resources, technology, and information. Optimal decisions must balance the marginal benefits of a decision with the decision’s marginal costs. The tool of constrained optimization is applied to cost minimization, output maximization, and profit maximization. Concepts covered include: optimal output volume; demand analysis and estimation; production and cost; market structure and strategic positioning; and optimal pricing strategies. -- Prerequisite: OPMT 600
1.5 Credits