Enjoying the preview?
This is the free first lesson. Get full access — request a demo or sign in.
Economics and Finance for Managers
Learn how economics impacts your business planPreview the first lesson free — get full access to all 6 lessons.
Intermediate Provider : Joseph Raynus 6 Lessons · 23m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
Managers play a crucial role in their company’s finances. This requires them to know microeconomic and macroeconomic principles, as well as accounting and finance. Managerial economics involves selecting the most appropriate action from two or more options. The main objective is to make the most profit possible with limited resources, such as labor, capital, and land. These decisions are made using managerial accounting and financial analysis. How can you use managerial economics to improve your business plan?
In this Economics and Finance for Managers course, you will learn how to use managerial accounting to make economic decisions. This involves product costing, budgeting, forecasting, and financial analysis. You will also learn how to make a financial plan to define your company’s financial needs for growth. By the end of this course, you will have the information necessary to ensure your company is profitable.
What You'll Learn
- Define microeconomics and macroeconomics and their core principles
- Identify the impact of economics on business plans
- Apply managerial accounting skills such as product costing and budgeting
- Assess decision-making using financial forecasting and analysis
- Build a financial plan that defines your company's financial needs for growth
Key Takeaways
- Managers play a crucial role in their company's finances and need to understand microeconomic and macroeconomic principles as well as accounting and finance.
- Managerial economics involves selecting the most appropriate action from two or more options to make the most profit possible with limited resources such as labor, capital, and land.
- Managerial economic decisions are made using managerial accounting and financial analysis, including product costing, budgeting, forecasting, and financial analysis.
- Creating a financial plan helps define a company's financial needs for growth.
- Completing the course gives managers the information needed to help ensure their company is profitable.
Frequently Asked Questions
Who is this course for?
It is designed for managers, who play a crucial role in their company's finances and need to know microeconomic and macroeconomic principles as well as accounting and finance.
What will this course teach me?
You will learn how to use managerial accounting to make economic decisions, covering product costing, budgeting, forecasting, and financial analysis, and how to make a financial plan to define your company's financial needs for growth.
What topics or lessons does the course cover?
The course includes lessons on Microeconomics and Macroeconomics Basics, Managerial Economics, Managerial Accounting, and Financial Planning and Analysis, plus an Introduction and a Test Your Knowledge section.
What skills will I gain from this course?
You will build skills in Accounting Management, Financial Accounting, Financial Management, Management Accounting, Managerial Economics, and Managerial Finance.
What is the main goal of managerial economics covered in this course?
The main objective is to make the most profit possible with limited resources, such as labor, capital, and land, by selecting the most appropriate action from two or more options.
Professional Certifications and Continuing Education Units (CEUs)
Project Management Institute (PMI®)
Professional Development Units (PDUs): 0.5
KnowledgeCity has been reviewed and approved by the PMI® Authorized Training Partner Program. Users can maintain your PMI credentials by earning PDUs from KnowledgeCity qualified courses in Project Management, Business Management, Leadership and many others.
