3 semester credits

Global markets are increasingly turbulent, and understanding how these markets work is critical to the student's success as a business leader. The course is designed to show how the student can use economic theory to frame the challenges associated with operating a firm in a competitive environment. To facilitate this understanding, students in this course integrate concepts of both micro- and macroeconomics. From a micro perspective, students study managerial decisions, particularly in terms of demand, supply, opportunity costs, profitability, and competitive strategies. Students also analyze real-world industries, markets, and firms using the key concepts of microeconomics. From a macro perspective, students develop the skills to create a basic model of the macro economy emphasizing real-world data and relationships. By the end of the course, students can evaluate and resolve economic problems in real time.