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Dec 11, 2024
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BUS 5400 - Economics3 lecture hours 0 lab hours 3 credits
Course Description
This course explores the concepts and principles of microeconomics, which govern the functioning of a firm/organization under different market conditions. It further aims at enhancing the understanding capabilities of students about macroeconomic principles and decision making by business and government. Time Value of Money will be used to solve business problems. (prereq: admission to a graduate program)
Course Learning Outcomes
Upon successful completion of this course, the student will be able to:
- Strengthen analytical/problem-solving skills by applying microeconomic and macroeconomic criteria to decisions
- Develop an appreciation for the dynamic environment of business, the need for it to add value to its product or service markets, and the necessity to make decisions that are economically sound
- Demonstrate the value to business of analyzing demand and supply, price elasticities, marginal utility, and decision-making with uncertainty
- Develop an appreciation for the macroeconomic environment and international economic issues
- Solve a limited set of investment problems that include time value concepts
Prerequisites by Topic
Course Topics
- Microeconomic theory: markets and the circular flow, supply and demand, elasticity, product and markets.
- Macroeconomic theory: GDP, growth, business cycle, unemployment, inflation, aggregate supply and demand; fiscal policy; money and banking, monetary policy; international economics
- Time value of money
Coordinator
Dr. Paul Hudec
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