Managerial Economics ON DEMAND
Available Until
Your Desk
4.0 Credits
Member Price $116.00
Non-Member Price $133.00
Overview
The concepts of management economics are used to make better business decisions. In this course, we do this by addressing opportunity costs, marginal analysis, price elasticity, and the economics of individual behavior. The course also delves into business management, including the economics of production, production inputs, and pricing strategies and tactics. We also pay significant attention to the structure of markets and the behavior of competitors. This course is intended to provide the economic underpinnings for many essential business decisions.
Highlights
The essential elements of effective decision-making. Opportunity costs. Implicit costs. Five forces framework. The supply and demand concept. Elasticity of demand. The nature of a consumer. Constraints on consumer behavior. Consumer equilibrium, and more.
Prerequisites
None.
Designed For
CPAs and other financial managers.
Objectives
Identify the core principles of effective decision-making. Specify how marginal analysis is used. Identify how demand at various price points can be shifted. Specify how price ceilings and floors impact consumers. Identify when elastic and inelastic demand exists. Recall the nature of consumer equilibrium. Specify the factors that influence the quantity of goods that can be produced. Specify what measure is used as a feedback loop for short-term production decisions. Specify the nature of economies of scale and scope. Identify the circumstances under which it makes the most sense to acquire inputs under the terms of a contract. Recall the measurements used to determine the level of industry concentration. Recall the characteristics, advantages, and disadvantages of the different pricing strategies. Specify the circumstances under which price leadership is a valid option. Identify the circumstances under which the various pricing tactics can be used.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $133.00
Member Price $116.00