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ECON 433

ECON 433Managerial Economics (SS)3 credits
Prerequisite: Economics 204 or 209 and Economics 206 or 208; and Economics 210 or Math 301 with a grade of C or better in each class. Admt COB, All other students can take up to 21 credits of 300/400 level Bus courses with 60 crs complt w 2.5 GPA
This course draws heavily on marginal economic analysis, quantitative optimization techniques, and statistical procedures to help management achieve established objectives. Management objectives are studied in a framework of short run profit maximization as well as in a long run framework. This long run theory of behavior encompasses a time dimension where the primary goal of a manager becomes wealth maximization rather than short run profit maximization. Finally, an important element in the class is the relationship between the firm and society. Managerial Economics clarifies the role firms play in society and identifies means of increasing their benefits to society. Prerequisites: Economics 204 or 209 and Economics 206 or 208; and Economics 210 or Math 301 with a grade of C or better in each class. Admitted Business majors; Admitted Econ Bus majors, Econ COLS majors & minors. All other students can take up to 21 credits of 300/400 level College of Business department courses, provided they have completed 60 credits with a combined GPA of 2.5.
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