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Applications of Economic Principles
Apply your knowledge of managerial economics in the real world.Preview the first lesson free — get full access to all 4 lessons.
Intermediate Provider : Joe Cooke 4 Lessons · 14m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
These lessons cover how to apply economic principles to business decision-making. You’ll explore considerations pertaining to both macro- and microeconomics, ways that managerial economics can be applied by individuals and firms alike, and practical tips for problem-solving. These lessons will also give you working knowledge of how economic considerations influence decision-making and you’ll be able to apply this information in your personal and professional lives. You’ll also understand the broad reach of managerial economics and know how to make sound choices to maximize your economic success.
What You'll Learn
- Apply economic principles to business and managerial decision-making
- Differentiate between macroeconomic and microeconomic forces
- Recognize how individuals, firms, and society interact to create the economy
- Use managerial economics for business decisions and problem-solving
- Make sound choices that maximize economic success in personal and professional life
Key Takeaways
- Economic principles can be applied to improve business decision-making across both macroeconomic and microeconomic considerations.
- Managerial economics can be applied by individuals and firms alike to guide sound choices.
- Economic considerations influence decision-making and can be applied in both personal and professional contexts.
- Understanding how individuals, firms, and society interact helps explain how the economy is created.
- Sound economic principles support management in making good decisions and maximizing economic success.
Frequently Asked Questions
What will I learn in this course?
You will learn how to apply economic principles to business decision-making, including macroeconomic and microeconomic considerations, how managerial economics can be applied by individuals and firms, and practical tips for problem-solving.
Who is this course for?
It is for individuals and firms who want to apply managerial economics and use economic considerations to make sound decisions in their personal and professional lives.
What topics does this course cover?
The course covers managerial decision-making using economic principles; macroeconomic and microeconomic considerations; individuals, firms, and society; and managerial economics, business decisions, and problem-solving.
What skills does this course help develop?
This course helps develop strategic decision making, enabling you to make sound choices to maximize your economic success.
Will this course help me tell macroeconomics and microeconomics apart?
Yes. One of the learning objectives is to differentiate between macroeconomic and microeconomic forces.
