Eco 561

Course Topics & Objectives

Week One: Increasing Revenue

• 1.1 Choose methods to increase revenue in an organization.
• 1.2 Explain market equilibrating process.

Week Two: Cost Concepts
• 2.1 Identify production level to maximize profits.
• 2.2 Explain how to balance fixed and variable costs.
• 2.3 Apply economic cost concepts in making business decisions.
Week Three: Market Structure
• 3.1 Determine pricing strategy to meet organizational goals.
• 3.2 Determine ways to create non-price barriers to entry based on market structure.
• 3.3 Determine ways to increase product differentiation based on market structure.
• 3.4 Determine ways to reduce costs for an organization.

Week Four: Macroeconomic Conditions
• 4.1 Determine the economy’s stage in the business cycle.
• 4.2 Evaluate current macroeconomic condition based on key indicators.

Week Five: Credit Markets and Globalization

• 5.1 Project the effect of credit markets on the economy.
• 5.2 Project the effect of global economic conditions regarding trade and specialization business decisions.

Week Six: Improving Business Decisions

• 6.1 Apply economic concepts in making business decisions.
• 6.2 Integrate economic concepts and strategic planning.
Course Materials
McConnell, C. R., Brue, S. L., & Flynn, S.M. (2009). Economics: Principles, problems, and policies (18th ed.). New York: McGraw-Hill Irwin.

Pugel, T. A. (2009) International economics (14th ed.). New York: McGraw-Hill Irwin.

Ball, L. (2009) Money, banking and financial markets. New York: Worth Publishers.

All electronic materials are available on your student Web site.
Point Values for Course Assignments                                                                          
Week One: The Basic Concepts of Economic Reasoning
Participation: (Discussion Questions, Weekly Summaries) 3
Assignment: Lecture Exam Questions 2
Assignment: Scenario Concept 9
Week Two: Cost Concepts & Profit Maximization...