What you'll learn
Throughout this course we will learn the meaning and the importance of Using economics to solve business problems
Understanding price elasticity
Demand curve shifts
Economics of scale vs. scope
Break-even and what-if analysis
Profit maximization
Economics in action
Requirements
No experience needed. You will learn everything you need to know
Description
Managers can use economics to strategize and solve a variety of business problems, from the mundane to the mission-critical. In this course, we explain how to use economic theory to answer strategic questions such as.Business economics is that science upon which industries, factories and veils depend in the process of producing goods and commodities and the way that attracts the consumer and fulfills his requirements and returns to the company with profits. And although many believe that economics is about money, the stock market, and treasury bills, fortunes, an economy as it is definedWhat are customers buying? (demand theory)What should we produce? (production theory)Which costs do I need to worry about now? (cost theory)What market am I in? (competition theory)What should we charge for it? (pricing theory)To understand what managerial economics looks like in practice, we explain how Google's auction-based advertising system employs the principles of game theory and how understanding this can help decision-makers to outmaneuver their competitors.Outcomes:Throughout this course we will learn the meaning and the importance of Using economics to solve business problemsUnderstanding price elasticityDemand curve shiftsEconomics of scale vs. scopeBreak-even and what-if analysisProfit maximizationEconomics in actionAudience:ManagersBusiness OwnersEntrepreneurs
Overview
Section 1: GDP: Determines the Standard of Living
Lecture 1 Overview
Lecture 2 Gross Domestic Product (GDP) and how to calculate it
Lecture 3 World GDP
Lecture 4 GDP per Capital
Lecture 5 Economic Growth
Lecture 6 GDP is Not a Perfect Measure for Wellbeing
Lecture 7 GDP - what is in it for me
Section 2: Inflation: Determines the Cost of Living
Lecture 8 Hyperinflation & Inflation
Lecture 9 The Consumer Price Index (CPI)
Lecture 10 Effect of Inflation on Personal Decisions
Lecture 11 Unemployment
Section 3: How Does the Economy Fluctuate ?
Lecture 12 The Economic Cycle
Lecture 13 The Story of Money
Lecture 14 The Story of Money part 2
Lecture 15 Monetary Policy - Part 1
Lecture 16 Monetary Policy - Part 2
Lecture 17 Fiscal Policy - Part 1
Lecture 18 Fiscal Policy - Part 2
Managers,Business Owners,Entrepreneurs


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