10426 Managerial Economics
Credits: 6 intermediate credits in Management
Prerequisites: Introduction to Microeconomics, Introduction to Macroeconomics, Introduction to Statistics for Students of Social Sciences I (or Introduction to Statistics and Probability for Science Students), and Introduction to Statistics for Students of Social Sciences II
Authors: Uri Benzion, Ayala Cohen, Nir Becker, Shlomit Hon-Snir, Ayala Meshiach, Naomi Zeitouni, Gregory Yom Din, Arie Nachmias, Rinat Shaanan-Satchi, Liad Grinfeld, Israel Groper
An integrative course dealing in managerial decision-making problems in economics, finance, production, marketing and public policy, highlighting unique aspects and specific problems characteristic of the Israeli economy. The course focuses on the application of economic theory and methodology to problems of managerial decision-making and provides students with basic understanding, an economic approach, and the methods required to analyze and solve problems in the organization.
Topics: Introduction – organizations, managers and economics; Methods of analysis and of managerial decision making – optimization methods, econometric methods, business and economic forecasting; Demand – demand theory and empirical estimation; Production, costs and cost estimates – production theory, cost theory and managerial decisions in production; Determining price – market structures and market equilibrium; Additional applications of managerial problems – managerial decisions under conditions of uncertainty, managerial decisions in marketing, managerial decisions in finance, cost-benefit analysis and managerial decisions in the public sector.