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4 Credits: Economics
Course Level
Overview
Format
Self-Study
Course Description
The concepts of management economics are used to make better business decisions. In the Managerial Economics course, we do this by addressing opportunity costs, marginal analysis, price elasticity, and the economics of individual behavior. The course also delves into business management, including the economics of production, production inputs, and pricing strategies and tactics. We also pay significant attention to the structure of markets and the behavior of competitors. This course is intended to provide the economic underpinnings for many essential business decisions.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify the core principles of effective decision-making.
- Specify how marginal analysis is used.
- Identify how demand at various price points can be shifted.
- Specify how price ceilings and floors impact consumers.
- Identify when elastic and inelastic demand exists.
- Recall the nature of consumer equilibrium.
- Specify the factors that influence the quantity of goods that can be produced.
- Specify what measure is used as a feedback loop for short-term production decisions.
- Specify the nature of economies of scale and scope.
- Identify the circumstances under which it makes the most sense to acquire inputs under the terms of a contract.
- Recall the measurements used to determine the level of industry concentration.
- Recall the characteristics, advantages, and disadvantages of the different pricing strategies.
- Specify the circumstances under which price leadership is a valid option.
- Identify the circumstances under which the various pricing tactics can be used.
Course Specifics
SS1123362751
October 16, 2024
There are no prerequisites.
None
85
Compliance Information
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …
QAS Self-Study
