MIM 515 - Applied Economics

Min Units: 2
Max Units: 2
The broad objective of this course is to provide students with a working knowledge of microeconomic theory as it applies to pricing, production and investment. Because of its focus on the behavior of firms or consumers, microeconomics assists managers in developing appropriate profit-maximizing strategies in a dynamic market environment. By creating models of firm behavior which provide insights into the nature of competition within markets, students are provided with a general framework for analyzing competitive strategies that can be applied to a wide range of market settings. These models explicitly account for costs, market demand, and the behavior of rival firms and can be used to understand the consequences of following different pricing and production strategies. (G) Fall
Prerequisite(s): MiM degree-seeking status, MIM 502, MIM 504