Economics is about allocative efficiency in the face
of scarce resources in an efficient, effective and ethical manner. It is in
fact the study of decision making on the allocation of scarce resource of the
organization in order to achieve optimization curve. Managerial Economics
course involve the study and application of economic theory to decisions made
by individuals or organizations in order to achieve their goals. It is designed
to enhance strategic decision making capacity of candidate’s business management.
It focuses on production, theory, cost theory, price theory and game theory
(business strategy or competitive strategy). Specifically it covers demand,
supply, elasticity, consumer theories, market systems and structure, cost of
the firm, pricing, labour market and international trade theories. This course covers micro- and macro-economic theory, models,
quantitative concepts and their application to forecasting, production,
budgeting, and government regulations in managerial decision-making. The Economics
module will provide an overview of micro & macro-economics with an emphasis
on the practical managerial application of economic thought and theory to firm,
national, and international business activities
- Teacher: Sebuhuzu Gisanabagabo