In MGT 709 Managerial Economics, you will focus on how economics affects the internal organization of the firm, and the external environment in which businesses and organizations operate. This is accomplished by examining economic history and theory, and applying the lessons to strategic management decisions.
Topics covered include: microeconomics; individual consumers and businesses interaction in a market economy; macroeconomics; and the affects of GDP, monetary and fiscal policies, and aggregate behavior integration on managerial decision making.
All coursework promotes collaboration as the best means to understand theories and practices of macroeconomics and microeconomics. Here are examples of some of the assignments you may complete as part of MGT 709 Managerial Economics.
- Identify and summarize current event articles that are relevant to the weekly topics.
- Compare either the ease or speed of executing fiscal policy and monetary policy.
- Work as a team to identify and support a topic for the microeconomic final video presentation.
Each week focuses on a different theme. The material in your textbook chapters, case studies, discussion forums, current event articles, and team projects will align with the week’s theme as well as its primary objectives. Weekly themes and course material are subject to change based on professor.
Week 1 – Introduction to Demand, Supply, and Equilibrium Prices
During this first week, you will review and discuss the overall course objectives. After completing the required reading and assignment, you’ll be able to:
- Understand the basics of economics.
- Explain demand, supply, and equilibrium.
Week 2 – Consumer Behavior, Short Run, and Long Run Analysis
In week two, you’ll focus on how consumer behavior impacts marketing, production, and economics over time. Upon completion of the readings and assignments, you’ll be able to:
- Understand consumer demand and behavior.
- Examine production and cost analysis for the short run.
- Explore production and cost analysis in the long run.
Week 3 – Perfect Competition, Monopoly, and Monopolistic Competition
Throughout week three, you’ll examine the numerous capital allocation decisions most organizations face, along with the need for a methodology that guides empirically based decisions. After completing the required readings and assignments, you’ll be able to:
- Explain perfect competition market structure.
- Define monopoly and monopolistic competition structure.
Week 4 – Oligopoly and Strategies for Firms
During the midpoint week of the course, you’ll work in your teams to complete the assignment about the I.O.U.S.A. video. Upon completion of assignments and analysis, you’ll be able to:
- Understand oligopolies and how to identify them.
- Explain how different companies use game theory.
- Defend your opinion if oligopolies are good for America.
Week 5 – Macroeconomic Foundations for Individuals, Firms, and Government Behavior
As you progress to week five, you’ll dive deeper into macroeconomics to more formally understand the components of gross domestic product (GDP). Successful completion of this week means you can:
- Understand unemployment and its impact on the economy.
- Recognize the difference between real and nominal GDP.
- Identify aggregate expenditure and the influencing factors on real goods and services in different sectors of the economy.
Week 6 – Money and the Aggregate Model
In week six, you’ll discuss money and how the Federal Reserve's monetary policy influences interest rates. Upon completion of the week’s activities, you’ll be able to:
- Define the aggregate demand and supply models.
- Explain the federal government's fiscal policy tool.
- Understand the arguments surrounding leverage and optimal capital structure.
- Identify various sources of financial assets in stocks, bonds, and Treasury securities.
Week 7 – International Macro Economy and Analysis
Throughout this week, you’ll explore ethical and philosophical topics that illustrate the effect economics has on cultural and individual values. By the end of this section, you’ll be able to:
- Explain all the macroeconomic topics presented in the course.
- Describe historic crimes or current positions that can be related back to economics.
- Defend how economics is the cost benefit analysis of values.
Week 8 – Managerial Decision Making
During the final week of the course, you’ll review the fundamental role on either the micro or macro climate of the industry you belong to from a more sophisticated point of view. Upon completion of this Managerial Economics course, you’ll be able to:
- Analyze the differences between microeconomic and macroeconomic factors on managerial decision making.
- Explain how microeconomic and macroeconomic decisions made at the local and national level impact the global marketplace.
- Realize the more global the business climate becomes, the more citizens of different countries are interconnected.
- Recognize the ways government influences micro and macro change through administrative policies (fiscal policy, debt ceiling, defense budget, social security, unemployment benefits, welfare, and tax revenue).
To learn more about MGT 709 Managerial Economics , or other courses in the online MBA program from the University of Saint Mary, call 877-307-4915 to speak with an admissions advisor or request more information.