An elementary study of market demand, supply, and price, economics of the firm, market structure, wage determination and income distribution. Emphasis is placed on basic and useful information needed for effective personal spending, saving, and budgeting habits. A study of methods of describing and presenting data, probability theory and distributions, sampling estimation, tests of hypotheses, and simple linear regression and correlation analyses, as applied to business and economic problems. Same as MGT 3606. To develop the student's understanding of basic quantitative tools for use in strategic and operations decision making.
Emphasis is on practical applications rather than theory and proof.
Stresses determination of national income and employment, the role of money, investment and the rate of interest, inflation, economic growth. Emphasis placed on public policy. An in-depth study of theories of consumer demand, production and costs, optimization of the goals of firms under various market structures, resource markets, and income distribution, with application of economic analysis to managerial decision making. Focuses on institutional and structural changes and processes of growth. A study of the spatial organization of economic activities.