The main goal of studying Managerial Economics is to understand how the scarce resources of the firm may be utilised efficiently to maximise value. It helps the student to comprehend how economic concepts like elasticity of demand, demand forecasting and law of variable proportion can aid in business decision making. The course begins an overview of managerial economics and its practical application in business. By the end of this course, students will be able to understand how managerial economics can help in solving the management problems and determine which economic concepts can be employed to meet the organisational goals.
- Managerial Economics – Overview
- Managerial Economics - Practical Application
- Theory of Demand
- Demand Forecasting
- Introduction to Theory of Consumption
- Consumer Equilibrium
- Production and Cost – Overview
- Supply and cost
- Perfect Competition
- Imperfect Competition
- Discuss the significance of Managerial Economics
- State the objectives of Managerial Economics
- Recall the conditions required of a good demand forecasting method
- Describe monopoly and the nature of monopoly
- Analyse the determinants of demand
Who Should Attend?
- Bachelor of Business Administration
- Bachelor of Commerce
- Master of Business Administration
- Travel Counselor
- Sales Specialist
- Business Analyst
- Risk Management
- Business Development
After completing this course and successfully passing the certification examination, the student will be awarded the “Economics for Managers” certification.
If a learner chooses not to take up the examination, they will still get a 'Participation Certificate'.