3 credits
Fall 2025 Lecture Distance Learning Upper Division
This course provides students with essential tools from intermediate microeconomic theory to support effective decision-making in business and institutional settings. By exploring fundamental economic concepts—such as marginal analysis, profit maximization, cost minimization, and pricing strategies—students will enhance their strategic thinking and managerial capabilities. The course addresses key topics including consumer behavior, demand, production and costs, factor demand, market structure, and strategic behavior, equipping students to tackle complex business challenges and make sound economic decisions. By the end of the course, students will have developed the skills to determine optimal strategies in various market conditions, preparing them to succeed as informed business managers.
Learning Outcomes1Analyze how individuals and firms make rational decisions in the demand and supply of goods and services.
2Describe and interpret the equilibrium outcomes of market interactions between individuals and firms.
3Evaluate market outcomes with regard to economic efficiency and resource allocation.
4Apply models and theories relevant to the management of firms operating in competitive, monopolistic, and oligopolistic market structures.
5Identify and assess various pricing strategies for firms with market power, considering the impact on both firm and market performance.
6Use game theory to inform strategic decision-making and anticipate competitor actions in various market environments.
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made by Purdue students.