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Managerial Economics

Offered By: LinkedIn Learning

Tags

Management & Leadership Courses Economic Theory Courses Cost Analysis Courses Profit Maximization Courses Price Elasticity Courses

Course Description

Overview

Learn how to use economics to make better business decisions. Explore economic theories to strategize and solve business problems from demand and competition to pricing products.

Syllabus

Introduction
  • Making better managerial economic decisions
1. What Is Managerial Economics and How Do I Apply It?
  • What is managerial economics?
  • Use economics to solve business problems
2. What Are Customers Buying?
  • Demand curve
  • Price elasticity
  • Real world elasticities
  • Shift of the demand curve
3. What Should You Produce?
  • Economic profit versus accounting profit
  • Economies of scale
  • Economies of scale versus scope
  • The law of diminishing returns
4. Which Costs Do I Need to Worry about Now?
  • Break-even analysis
  • What-if analysis for constant profit
5. What Should You Charge for It?
  • Profit maximization
  • Price discrimination
6. Economics in Action
  • Google's money making machine
  • Price increases and competitive reaction
  • Economic fallacies
Conclusion
  • Elements of an economic decision

Taught by

Stefan Michel

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