MG311 Economics for Managers (3 cr.)

This course provides an overview of the macro and microeconomics theories used by individuals in various management and business professions. The economic decisions made by households and organizations in various markets are examined. Also examined are the laws of supply and demand, the macroeconomic indicators of the economy, business cycle analysis, the forces of production and consumption, labor market theory, and consumer choice. The impact of government economic policies on organizations is also examined.

Upon completion of this course, students are expected to be able to do the following:

1. Describe the principles of macro and microeconomics.
2. Evaluate the market forces involved in supply and demand.
3. Describe the interaction between consumers and producers.
4. Explain the dynamics of international trade.
5. Describe how a nation’s income and cost of living are measured.
6. Explain how the monetary system works.
7. Identify the economics of the public sector.