Managerial Economics

Description

In this course, you will learn:

• What are customers buying? (demand theory)
• What should we produce? (production theory)
• Which costs do I need to worry about now? (cost theory)
• What market am I in? (competition theory)
• What should we charge for it? (pricing theory)

Syllabus:

• Introduction
• What you should know before watching this course
   

1. What is Managerial Economics and How Do I Apply It?

• What is managerial economics?
• Use economics to solve business problems
   

2. Demand Theory: What Are Customers Buying?

• Demand curve
• Price elasticity
• Real world elasticities
• Paradox of positive elasticity
• Shift of the demand curve
   

3. Production Theory: What Should We Produce?

• Economic profit versus accounting profit
• Economies of scale
• Economies of scale versus scope
• The law of diminishing returns
   

4. Cost Theory: Which Costs Should I Worry About Now?

• Break-even analysis
• What-if analysis for constant profit
   

5. Pricing Theory: What Should We Charge For It?

• Profit maximization
• Price discrimination
   

6. Economics in Action

• Google's money-making machine
• Game theory
• Economic fallacies

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