COMM_V 295 - Managerial Economics

Course Description

This course covers the economic foundations of managerial decision–making. Topics include supply and demand, empirical methods, organization and objectives of business enterprises, competition and monopoly, pricing with market power, oligopoly, game theory, uncertainty and information, agency relationships, and behavioral economics. This course is primarily a lecture course although in-class activities such as poll questions and class discussion are important parts of the course. Emphasis is placed on analytical reasoning and applying economic models to business settings, preparing students to assess managerial choices in a systematic way. Assessment methods include exams, group projects, take-home assignments, and in-class participation.

Responsible Business Content

This course addresses responsible business and sustainable development by considering and analyzing how private sector firms can efficiently provide access to goods and services, including to those at the lowest end of the income spectrum (No Poverty). A large part of the course also discusses various forms of industrial organization and their implications for consumer well-being (Responsible Consumption and Production).

Learning Objectives

By the end of the course students will:

• Apply economic models and economic analysis to a wide range of business problems, including pricing decisions and competitive strategy decisions.
• Describe, interpret, and analyze economic issues reported in the business media.
• Use diagrams, statistical and mathematical techniques, spreadsheets, and verbal logic while carrying out economic analysis.

Students Will Gain Confidence In

• Critically evaluate financial statements to identify underlying assumptions, risks, and strategic implications.
• Navigate ambiguity in cross-functional team environments by applying evidence-based frameworks for collaboration and conflict resolution.
• Construct and defend ethical business strategies that balance competing stakeholder interests and organizational values.
• Translate complex technical and quantitative findings into clear, credible, and actionable insights for non-specialist audiences.
• Assess the organizational and societal implications of business decisions across diverse economic and cultural contexts.
• Integrate competing theoretical perspectives to develop original, well-reasoned positions on complex business problems.

Prerequisite: Either (a) ECON_V 100 or (b) all of ECON_V 101 or ECON_O 101, ECON_V 102 or ECON_O 102. 

Note: Credit may be obtained for only one of ECON_V 201, ECON_V 206, ECON_V 301, ECON_V 304, FRE_V 295, COMM_V 295.