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Gm545

In: Business and Management

Submitted By adeola
Words 2162
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Course Description
Business Economics provides a basic understanding of managerial economics and the impact of the economic environment on business decision making. The course develops micro- and macroeconomic topics, with particular emphasis on marginal analysis and supply and demand considerations. No prerequisite

Terminal Course Objectives
DeVry University course content is constructed from curriculum guides developed for each course that are in alignment with specific Terminal Course Objectives. The Terminal Course Objectives (TCOs) define the learning objectives that the student will be required to comprehend and demonstrate by course completion. The TCOs that will be covered in detail each week can be found in the Objectives section for that particular week. Whenever possible, a reference will be made from a particular assignment or discussion back to the TCO that it emphasizes. A | Given a demand function and a supply function, illustrate how the price mechanism, in response to changes in other demand or supply factors, leads to a new market equilibrium price and level of output. | B | Given appropriate marketing data, including price elasticity coefficients, demonstrate how to use this information in product pricing in order to maximize profits. | C | Given knowledge of key cost and marginal revenue relationships, use marginal analysis to demonstrate shutdown, break-even and optimal output points, as well as the optimal amount of a resource to utilize. | D | Given relevant price and cost data, discuss optimal output levels for a competitive firm versus a firm operating in an imperfectly competitive environment; students will participate in a discussion of anti-trust legislation. | E | Given an introduction to key macroeconomic variables, distinguish between real and nominal output variables, between various inflation measures, and

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