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15.024 Applied Economics for Managers (MIT) 15.024 Applied Economics for Managers (MIT)

Description

The fact of scarcity forces individuals, firms, and societies to choose among alternative uses – or allocations – of its limited resources. Accordingly, the first part of this summer course seeks to understand how economists model the choice process of individual consumers and firms, and how markets work to coordinate these choices. It also examines how well markets perform this function using the economist's criterion of market efficiency. Overall, this course focuses on microeconomics, with some topics from macroeconomics and international trade. It emphasizes the integration of theory, data, and judgment in the analysis of corporate decisions and public policy, and in the assessment of changing U.S. and international business environments. The fact of scarcity forces individuals, firms, and societies to choose among alternative uses – or allocations – of its limited resources. Accordingly, the first part of this summer course seeks to understand how economists model the choice process of individual consumers and firms, and how markets work to coordinate these choices. It also examines how well markets perform this function using the economist's criterion of market efficiency. Overall, this course focuses on microeconomics, with some topics from macroeconomics and international trade. It emphasizes the integration of theory, data, and judgment in the analysis of corporate decisions and public policy, and in the assessment of changing U.S. and international business environments.

Subjects

applied economics | applied economics | resource scarcity | resource scarcity | allocate limited resources | allocate limited resources | business choices | business choices | modeling consumer choices | modeling consumer choices | market efficiency | market efficiency | microeconomics | microeconomics | efficiency | efficiency | supply | supply | demand | demand | consumer theory | consumer theory | producer theory | producer theory | monopoly | monopoly | imperfect competition | imperfect competition | pricing | pricing | public goods | public goods | externalities | externalities | information uncertainty | information uncertainty | group decision making | group decision making | organizational architecture | organizational architecture | international trade | international trade | equity | equity | income distribution | income distribution | economic rewards | economic rewards | managerial economics | managerial economics | corporate finance theory | corporate finance theory | network economy | network economy

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see http://ocw.mit.edu/terms/index.htm

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15.024 Applied Economics for Managers (MIT)

Description

The fact of scarcity forces individuals, firms, and societies to choose among alternative uses – or allocations – of its limited resources. Accordingly, the first part of this summer course seeks to understand how economists model the choice process of individual consumers and firms, and how markets work to coordinate these choices. It also examines how well markets perform this function using the economist's criterion of market efficiency. Overall, this course focuses on microeconomics, with some topics from macroeconomics and international trade. It emphasizes the integration of theory, data, and judgment in the analysis of corporate decisions and public policy, and in the assessment of changing U.S. and international business environments.

Subjects

applied economics | resource scarcity | allocate limited resources | business choices | modeling consumer choices | market efficiency | microeconomics | efficiency | supply | demand | consumer theory | producer theory | monopoly | imperfect competition | pricing | public goods | externalities | information uncertainty | group decision making | organizational architecture | international trade | equity | income distribution | economic rewards | managerial economics | corporate finance theory | network economy

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see https://ocw.mit.edu/terms/index.htm

Site sourced from

https://ocw.mit.edu/rss/all/mit-allsimplifiedchinesecourses.xml

Attribution

Click to get HTML | Click to get attribution | Click to get URL

All metadata

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15.024 Applied Economics for Managers (MIT)

Description

The fact of scarcity forces individuals, firms, and societies to choose among alternative uses – or allocations – of its limited resources. Accordingly, the first part of this summer course seeks to understand how economists model the choice process of individual consumers and firms, and how markets work to coordinate these choices. It also examines how well markets perform this function using the economist's criterion of market efficiency. Overall, this course focuses on microeconomics, with some topics from macroeconomics and international trade. It emphasizes the integration of theory, data, and judgment in the analysis of corporate decisions and public policy, and in the assessment of changing U.S. and international business environments.

Subjects

applied economics | resource scarcity | allocate limited resources | business choices | modeling consumer choices | market efficiency | microeconomics | efficiency | supply | demand | consumer theory | producer theory | monopoly | imperfect competition | pricing | public goods | externalities | information uncertainty | group decision making | organizational architecture | international trade | equity | income distribution | economic rewards | managerial economics | corporate finance theory | network economy

License

Content within individual OCW courses is (c) by the individual authors unless otherwise noted. MIT OpenCourseWare materials are licensed by the Massachusetts Institute of Technology under a Creative Commons License (Attribution-NonCommercial-ShareAlike). For further information see https://ocw.mit.edu/terms/index.htm

Site sourced from

https://ocw.mit.edu/rss/all/mit-allcourses.xml

Attribution

Click to get HTML | Click to get attribution | Click to get URL

All metadata

See all metadata