Managerial Economics and Business Analysis

Concerning effectively manage and operate a business, managers and leaders need to understand the market characteristics and economic environment in which they operate. In this specialization, you will build a solid understanding of the operation of markets and the macro-economic environment with real-world examples. You will be able to identify firm and country-level economic factors
that impact business decisions, develop an analytical framework using statistical tools, and apply economic theory and data in the analysis of business environment and trends to make effective business decisions.

Learning By Doing

Individual Online Learning

Challenging and Interesting

Be curious and never stop learning

Classrooom Lessons

Firm Level Economics: Consumer and Producer Behavior

• Describe consumer behavior as captured by the demand curve and producer behavior as captured by the supply curve

• Define equilibrium and explain the impact of taxes and price controls on market equilibrium • Explain elasticity of demand

• Describe cost theory and how firms optimize given the constraints of their own costs and an exogenously given price

Firm Level Economics: Markets and Allocations

• Explain how different market structures result in different resource allocations
• Model the impact of external shocks to a particular market structure and demonstrate the new equilibrium price and quantity after the impact of this external shock has played out
• Evaluate the efficiency of an equilibrium
• Explain when and why the government might intervene with regulatory authority or antitrust litigation to lessen inefficiencies in some markets
• Describe how information problems can cause inefficient outcomes
• Understand externalities and consider optimal government response to these market failures

Country Level Economics: Macroeconomic Variables and Markets

• Systematically assess the national and international economic environment in which you live and work
• Analyze macroeconomic issues using key tools
• Be a more effective professional in your line of activity.

Country Level Economics: Policies, Institutions, and Macroeconomic Performance

• Understand how the market for aggregate goods and services interacts with the money market to shape the macroeconomic equilibrium which determines income, interest rate, and exchange rate in the short run
• Assess the dynamic effects of macroeconomic policies and understand the roles of globalization, government policies, institutions, and expectations in macroeconomic outcomes

Exploring and Producing Data for Business Decision Making

• Summarize large data sets in graphical, tabular, and numerical forms
• Understand the significance of proper sampling and why one can rely on sample information
• Understand why normal distribution can be used in a wide range of settings
• Use sample information to make inferences about the population with a certain level of confidence about the accuracy of the estimations
• Use Excel for statistical analysis

Inferential and Predictive Statistics for Business

• Test for beliefs about a population
• Compare differences between populations
• Use linear regression model for prediction
• Use Excel for statistical analysis

Managerial Economics and Business Analysis of X Project

The X project involves an in-depth analysis of an actual business situation in which you will examine the global economic environment of a business. The final project will be a business plan that uses statistical tools and economic theory to create a comprehensive analysis of the microeconomic and macroeconomic environment in which the focal company operates.