In the first half of the course, microeconomic tools are used to structure complicated decision problems about production, pricing, investment, and other strategic issues. Some of these decisions take place in uncertain environments, and we address this uncertainty by making probabilistic forecasts and sequential decisions. Since most decisions depend on the structure of the industry in which a company operates, an additional goal is to distinguish different market structures and apply competitive strategies using game theory. In the second half of the course, the focus shifts to the study of the national and global economic environments within which companies operate. We identify the drivers of fluctuations in Gross Domestic Product, inflation, interest rates, exchange rates and other key features of the economies.
Teams analyze and share economic developments in particular countries.
Since governments play key roles in determining the fate of economies and companies, the final theme is the rationale for and efficacy of government policy tools. An introduction to accounting, and an examination of how it helps in decision-making. Managers deal with a large amount of information in quantitative form. Effective managers must understand the conditions under which quantitative techniques may be appropriately applied for decision-making. In this course, students develop skills in using the computer to examine and report data.