Course Overview:

This course explores the economic principles that guide managerial decision-making in a business environment. Emphasizing both theoretical frameworks and real-world applications, students will develop the analytical tools required to evaluate decisions regarding production, pricing, market competition, and strategic interaction. Topics include supply and demand analysis, consumer behaviour, production and cost functions, market structure, pricing strategies, game theory, risk and uncertainty, agency theory, and market failures. Students will also be introduced to empirical and forecasting methods, as well as quantitative tools such as optimization techniques and spreadsheet modelling. The course fosters critical thinking and equips students to apply economic reasoning to optimize business decisions under various constraints and uncertainties.

Prerequisite:

  • The students must have completed grade 12 or equivalent education, or mature student status (19 years or older).
  • All applicants must meet one of the following Language Proficiency Requirements (LPR):
    • Completion of 2 years of secondary education (including English 10 and 11 with grade of ‘C’ or higher) from a country where English is one of the principal languages, or
    • Completion of 2 years of full-time post-secondary education at an accredited institution where English is the language of instruction, or
    • Students from non-English speaking countries must have completed grade 12 or equivalent education and provide verified results for one of the English Language Proficiency tests with minimum scores listed below:
      • IELTS 6.0, TOEFL 50, CAEL 45, CELPIP 6.5, DET 105, PTE 47, PCE 175, CAMBRIDGE B2 Level, LANGUAGECERT B2 Level, MET B2 Level, ITEP 3.8, EIKEN Grade Pre-1. or
    • Provide proof of achieving at least 65% in Grade 12 English (or equivalent) from a recognized institution.
  • Mature Student Applicants
    • Applicants who are 19 years of age or older at the start of the program, are Canadian citizens or permanent residents, and are unable to provide official secondary or post-secondary education records may demonstrate English proficiency by:
      • Submitting a signed attestation confirming they have completed at least three years of full-time education in English in a country where English is one of the primary languages and
      • Completing the Accuplacer English Assessment (Next Generation: Reading, Writing, and WritePlacer) with the following minimum scores:
        • Reading: 235
        • Writing: 235
        • WritePlacer: 4

Learning Outcomes:

Upon successful completion of this course, the students will be able to:

  • Apply core microeconomic principles to analyze business decisions involving production, pricing, and strategic behavior in managerial contexts.
  • Construct and interpret economic models that represent firm behavior across various market structures including perfect competition, monopoly, and oligopoly.
  • Estimate and evaluate demand using elasticity concepts and empirical tools to support data-driven decision-making.
  • Analyze cost structures and production functions to optimize input choices, output levels, and resource allocation under constraints.
  • Assess strategic interactions between firms using game theory, including applications such as price competition, collusion, and entry deterrence.
  • Incorporate uncertainty, risk preferences, and probability distributions into managerial decision-making under imperfect information.
  • Diagnose market failures and evaluate the implications of externalities, information asymmetry, and agency problems on organizational performance and regulation.

Course Content & Topics:

Class 1: Introduction to Managerial Economics
Class 2: Demand Analysis and Elasticity
Class 3: Consumer Behavior and Utility
Class 4: Production and Cost Analysis
Class 5: Market Structures: Perfect Competition
Class 6: Market Structures: Monopoly
Class 7: Market Structures: Monopolistic Competition and Oligopoly
Class 8: Game Theory and Strategic Behavior
Class 9: Pricing Strategies and Tactics
Class 10: Decision Making Under Risk and Uncertainty
Class 11: Managerial Forecasting and Empirical Tools
Class 12: Agency Theory and Information Asymmetry
Class 13: Market Failures and Regulation
Class 14: Course Review and Capstone Applications

Credit Information:

  • Credits: 3

Duration:

  • 14 Weeks: 3 hrs/week

Course & Related Fees:

  • Domestic & International: $700 (Seven hundred dollars)

For a detailed breakdown, please refer to Policy #S-005 Programs & Course Fee Schedule

Non-Refundable Fees:

  • Application Fee: $50.00/course (payable online and non-refundable)