Key Skills: break-even analysis, resource allocation, price elasticity of supply and demand, price optimization, monetary policy, Fisher equations, interest rates, exchange rates, production functions
Description: Global Managerial Economics is an exploration of the micro- and macroeconomic variables and factors that underlie all business transactions, strategies and decisions, with a particular focus on their relevance to the global economic market. Because of the interconnected nature of the contemporary global economy, managers must develop a robust knowledge of these driving forces in order to successfully identify points of competitive advantage, optimize business decision-making and achieve maximum profit. They must also do so with an awareness of the individual economic conditions in countries across the globe and an understanding of how these conditions impact international trade and exchange relationships.
Global Managerial Economics is a highly applied course in which students are encouraged to examine real-world examples of connections between government policies, the national and international macroeconomic environment, and microeconomic factors that can produce competitive advantages for an individual firm. Students are expected to develop a working understanding of concepts such as price elasticity of supply, price elasticity and cross-price elasticity of demand, resource allocation, production functions of services or goods, resource allocation, break-even analysis, and market disruptions. Students will also learn to recognize the macroeconomic factors that contribute to economic cycles and financial crises and effectively assess the risks they pose to business organizations.