This intensive course teaches students a new way of thinking about microeconomics, not only exploring fundamental topics, but also teaching them how to understand relationships among them. The course covers microeconomic foundations and explores variations, including comparative statics, marginal analysis, market structures, information, and externalities. Students will also explore policy implications and macroeconomic fundamentals, including money and national income measures.
My name is Bob Florence. I earned my PhD in Economics at Purdue University—go Boilers! I’m a native Clevelander—go Browns! Now that that’s out of the way, the reason I’m here, the reason I am into this course is because I think all of us are better off if we are more educated, and I also believe very firmly that economics is everywhere. And it’s not just because it’s my profession, but I really do believe that. That it doesn’t matter what the topic is. It doesn’t matter what your personal favorite issues are in life. Economics is there, and the economic tools that you will pick up in this course, the topics we will discuss, will make that very clear to you. You’ll see a lot of the things that economists see. You’ll see the way we think, and believe it or not, you’ll start to think as an economist. As frightening as that may sound, it’s really a good thing, because you’ll frame all kinds of different issues the way economists do, and it will make decision-making considerably easier. It will make understanding the decisions that policymakers make considerably easier. This is a course that should enrich your life beyond what you ever imagined. I hope it does.
By the end of the course, online Master of Business Administration students will be able to:
- Understand fundamental microeconomic and macroeconomic issues
- Use the decision rules that generate efficient outcomes
- Analyze business settings using economic tools
- Understand relationships among macroeconomic topics
- Analyze the effects of policies on fundamental variables and their relationships