Managerial Economics Course

Course Methods:  Experiential workshop (action learning course)
Course Venue:     Las Vegas, Nevada, USA
Course Duration:  4 days
Course Times:       9 AM - 3 PM

Course Audience 

• CEO's Team: General Managers, Business Unit Managers, Finance Managers, Operations Managers, Marketing Managers, and Sales Managers

• Entrepreneurs

• Business Consultants.

Course Objectives

• Provides an understanding of the economic environment and its impact on business strategy formulation

• Offers experiential analysis to understand the challenges of CEOs and General Managers in adapting to the changing economic environment

• Offers ideas and tools to understand the local and global economic forces, including governmental regulations, international relations, global consumers, global production and international business

• Focuses on the impact of economic policies on managerial decision-making, by providing an understanding of fiscal policy, and local and global economic issues affecting business

• The course emphasizes strategic managerial decision-making. It does not focus on  mathematical models or technical analysis

Course Focus:

Develop the core managerial economics skills and competencies.

Key Concepts

• Macroeconomic. Microeconomics. Supply and Demand. Government Policies and Regulations. Economic Risks and Strategies. International Business. Innovation Economy. Offshoring. Global Economy. Global Competitiveness. Knowledge Economy. Pareto 80/20 Law. Hofstede's National Differences. Oligopoly. Monopoly. Competition.

Course Outline / Customization Subjects 

• Business Economics: Introduction to economic analysis, with an emphasis on firms, their market and operating environment. Pricing and output decisions. Cost and profit determination in competitive and monopolistic markets. Macroeconomic factors and policies affecting business activity in a free and open economy.

• Microeconomics: Introduction to the economic behavior of individuals and firms with emphasis on output and price determination in the various market structures. Study of the allocation of scarce resources among competing end uses. Analysis also includes concepts of expected utility and uncertainty, and welfare economics.

• Macroeconomics: The economic activities of the nation, their interrelationships and how they impact the firms. This module also covers the measurements of economic activity, determination of aggregate income, money, banking and prices, exchange rates, the balance of payments and government macroeconomic policy, national output, unemployment, inflation and interest rates . It also analyzes the outcome of alternative government policies related to economic problems.

• Innovation Economy: Policies and programs to promote innovation and global competitiveness.

• International Business and Global Economy: The development of the global economy and the driving forces and consequences of growing interdependency among nations. Changing patterns of trade and migration of capital and labor are analyzed, as are cyclical and secular trends in output, employment and investment.

Courseware Content

IIM's managerial economics training courseware includes:

1. Participant's coursework and assessment project guide

2. Executive summary of the subject matter (in power-point lecture notes format):

   • Summary of essential concepts and management best practices

   • Examples and case studies

3. Management toolkit (management frameworks, decision models, checklists, etc.)

4. Experiential work-based assessment project

5. Online resources for the completion of the experiential assessment project

Performance Evaluation (Optional):

• Performance will be evaluated on the basis of individual or team project deliverables

• Candidates can complete customized experiential / work-based projects such as developing a relevant analysis document, management strategy, action plan or a senior management presentation

• IIM course advisor will review the deliverables and provide improvement feedback

• There are no traditional quizzes or theoretical exams.

Course Registration:

• Managerial Economics Training Course
  • Accelerated workshop (classroom option)
  • Course venue: Las Vegas, Nevada, USA
  • Requires registration, application review and seat reservation.