This course provides an introduction to demand analysis in addition to product and cost analysis. Participants will learn how markets work and gain an understanding in the role of government in the economy. By utilizing newly acquired knowledge of the market structure, participants will have better insight into how to position organizations and identify their role in the market. The aim of the course is to give participants the necessary tools for executing managerial decision making.
By the end of the course students will be able to:
- see how markets work (demand & supply)
- understand the role of government in the economy (market failures) in a unifying framework of managerial decision making
- apply “theoretical” insights gained during the course in a real-life situation
The different economic concepts will be introduced and exemplified with real-life case studies during which active participation of the students is required.