Course Objectives

• This Course Objective Hasn't Been Provided Yet

Target Audience

Managers, business professionals, and individuals who have decided to explore how good economic decision making is fundamental to the success of business.

• The firm and its goals
  • The economic goal of the firm and optimal decision making
  • Goals other than profit
    • Economic goals
    • Economic objectives
    • Noneconomic objectives
  • Maximizing the wealth of stockholders
    • Market Value Added (MVA)
    • Economic Value Added (EVA)
  • Economic profits
  • Global application
• Demand estimation and forecasting techniques
  • Demand elasticity and the revenues of a firm
    • Price elasticities of several industries
    • Economics in practice: ‘Elasticities at a Delicatessen in the Short Run and Long Run’
  • Demand estimation
    • Regression analysis application
  • Forecasting techniques
    • Expert opinion
    • Opinion polls and market research
    • Surveys of spending plans
    • Economic indicators
    • Projections
• Estimation of cost, pricing, and output decisions
  • The importance of cost in managerial decisions
  • The definition and use of cost in economic analysis
  • Examples of ways companies have cut costs to remain competitive
  • Cautionary note about the use of cost-cutting as a strategy
  • Pricing and output decisions: Perfect competition and monopoly
  • Pricing and output decisions: Monopolistic competition and oligopoly
  • Special pricing practices
  • Break-even analysis (Volume-Cost-Profit)
• Macroeconomic indicators and the firm’s strategic decisions
  • The importance of the business cycle to businesses
  • Economic growth and its positive effects
  • Factors affecting the economy and the firm
    • Inflation
    • Interest rates
    • Unemployment
    • Exchange rates
  • Exchange rates effects on imports, exports, and real GDP
• The effects of government economic policies on businesses
  • The way fiscal policies affect businesses
    • Expansionary fiscal policy
    • Contractionary fiscal policy
  • The way monetary policies affect businesses
    • Expansionary monetary policy
    • Contractionary monetary policy
  • The effect of public debt on the economy and businesses
  • The balance of trade and its impact on currency exchange rates

This course hasn't been scheduled yet, however you can request for In-House training