Managerial and Engineering Economics
Description: The course describes the business “ecosystem” while presenting and applying fundamental tools for effective management. First, the course covers the dimensions of the business environment and organizational architecture, demand and supply in the customer-organization interface, the product concept, and different product pricing strategies. Then, the course covers process dimensions, the production function, physical capital and human capital investment decisions, the nature of costs, the impact of production, organizational and transaction costs on profits and firm size, and the management of resources inside the firm and in its supply chain. Next, the course covers market structures, sustainable competitive advantage, the assessment of a firm’s position in the market and strategic games.