This course provides Master of Management students with an advanced understanding of managerial economics as a framework for effective business decision-making. It integrates economic theory, quantitative analysis, and managerial principles to support the allocation of scarce resources and the achievement of organizational objectives. Students examine key concepts such as demand and supply analysis, elasticity, consumer behavior, production and cost analysis, market structures, pricing strategies, and profit optimization. Emphasis is placed on applying microeconomic principles to real-world managerial problems, enabling students to evaluate market conditions, understand customer and competitor behavior, assess costs and revenues, and identify economically rational alternatives in complex business environments.
The course further develops students’ ability to apply economic reasoning and analytical tools to strategic and operational business decisions under conditions of risk and uncertainty. Topics include forecasting, marginal analysis, pricing and output decisions, competitive strategy, investment considerations, and the economic implications of government policies and changing market conditions. Through case analysis and managerial problem-solving, students learn to integrate economic information with organizational objectives when evaluating alternative courses of action. By the end of the course, students are expected to demonstrate critical and analytical thinking in applying managerial economics to support evidence-based decisions, improve organizational efficiency, strengthen competitive advantage, and contribute to sustainable business performance.