- Consumer and Seller Behavior: Understand buyer and seller behavior within a simple and mixed market economy.
- Understand how economists use statistics to learn about economic behavior.
- Understand the basic business functions of accounting, statistics, operations management, economics, finance, management, and marketing.
- Understand the meaning and implications of economic efficiency and equity.
- Pricing and Production Costs: Understand pricing, costing, and economic profit decisions (stratigies) with respect to marginal decision making.
- Understand how the implications of decisions made by households, firms, the government, and the foreign sector affect a country’s macroeconomic variables like output, interest rates, inflation, exchange rates, and the trade deficit.
- Interpret, understand, and communicate quantitative concepts.
- Critically evaluate and compare alternative policies using complex criteria.
- Understand the implications of utility maximization for the behavior and choices of firms in the short run, the long run, and a variety of market structures.
- Effectively produce, interpret, and analyze written text, oral messages, and multimedia presentations used in business.
Skills and Competencies Table
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