Marilyn K. Spencer, Ph.D.
|ECON 2301||ECON 2302||ECON 3311||ECON 3320||Resources||About Dr. Spencer|
Managerial Economics is an undergraduate-level course that emphasizes the use of economic principles to make sound business decisions. Students will use economic analysis, knowledge of markets and organizations to address real-world problems. The course emphasizes the role of the business economist as a member of the management team trying to find ways to improve the use of resources available to an organization.
Prerequisite: ECON 2302 and junior standing or above
By the end of this course, the students will be able to:
1. Identify the components of an effective market and identify the advantages of using the market system to allocate economic resources.
2. Effectively use the major elasticities of demand in a managerial setting for the purposes of decision making.
3. Develop an understanding of the cost structure that profit maximizing firms face and then determine the optimal output level for the firm based up costs and revenues.
4. Develop strategy for a firm, from a managerial perspective given the market conditions the firm faces.
My goal is success for every student who enrolls in this course, in whatever way each individual student defines success. My grading structure is such that the single most important behavior for your success in this course is attending class. The second most significant is reading the text.
K. Spencer, Ph.D., Professor of Economics
Office: OCNR 323
A&M-CC email: firstname.lastname@example.org