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After completing this course, the student should be able to:

-          apply key economic ideas, such as supply, demand, equilibrium, marginal analysis, production, and cost to managerial decisions

-          analyze the market place and determine the degree of rivalry that is evident and how best to respond to those market conditions

-          understand and be able to develop strategies to maximize profits

-          analyze the incentive structures evident in various situations and be able to design incentive structures that will promote the goals of the institution

Prereq: Principles of Microeconomics. Managerial Economics is the body of economic concepts used to develop an understanding of industries and businesses and decisions made in such contexts. As a course of instruction, managerial economics is designed to develop comfort in the use of economic concepts to analyze markets as well as competitive conditions and to support managerial decision making based on such analysis.

The University of New Orleans International Summer School program has a mandatory class attendance policy. All students are required to attend class for all morning classes and any required afternoon and/or weekend fields trips and lectures. No unexcused absences are allowed. However, LFU students who have to miss a UNO class due to LFU examinations in the first two weeks of our program, can receive one excused absence for this. Any further unexcused absences will result in an academic penalty. Each faculty member determines the penalty for missed classes. Most professors deduct a letter grade for each additional missed class day. For details, please refer to your course syllabi, which will be distributed on the first day of class. The listed ECTS credits are a recommendation by the University of New Orleans Innsbruck Summer School, based on contact hours, anticipated out-of-classroom requirements such as field trips, and projected workload for readings, assignments, and exam preparation. Mail: Center-New-Orleans@uibk.ac.at