Economics of Business

Economics of Business --- This course provides participants with the foundations of microeconomic analysis. The objectives of this course are to understand how to apply the tools of economic analysis to business decision-making and to develop greater understanding of the reasons for various types of public policies, and their effects on business. We begin by developing frameworks for analyzing consumer behavior on the one hand, and the firm's cost structure and capabilities on the other. With this as background, the course then examines demand and supply, pricing, and the interaction of firms in a variety of industry settings (competition, monopoly, and oligopoly).