Course Title: Economic Analysis
Campus Course Code: MECO 6303
UTTC Course Code: MBAO 6312
Campus: UT Dallas
Program: MBAO
Course Description
The course deals with fundamental aspects of economic analysis. It is not assumed that you have prior knowledge of economics. It is assumed that you have had a calculus course and are at least familiar with basic differentiation.
The emphasis will be on fundamental aspects of economic analysis. The background gained in this course will prepare you for additional Economics courses and provide you tools for use in other disciplines such as Finance and Marketing.
There are several objectives of this course. I would like you to understand how markets work, and how maximizing behavior by consumers and firms allows the economy to function efficiently without any outside intervention (the 'invisible hand'). Hopefully, you should begin to think like an economist, which means that you understand that there are costs to all actions and investments, and that the forces of markets constrict the behavior of market participants.
When the course is over you should understand how firms determine profit maximizing prices, why fixed costs are irrelevant in determining price, why producers almost always share tax payments with consumers instead of being able to pass them on, the difference between competitive and monopolistic markets, the efforts by the government to both promote and restrict competition, and pricing techniques that allow firms to increase their profits.
Materials
To see a complete list of materials needed for this course, as well as any important notes and instructions provided by the instructor, visit the UTTC Book Lists.
Credits:3
Level:Graduate
Faculty
Peter Lewin
plewin@utdallas.edu
972-883-2729