MBA-502 provides a concisely focused yet rigorous introduction to both micro and macroeconomic theory. Topics addressed include market behavior, demand theory and related elasticity concepts, production and cost theory, managerial decision-making in perfectly and imperfectly competitive markets, GDP determination, unemployment and inflation, and fiscal and monetary policy. The course prepares MBA or MS students to advance onto other required or elective upper-level economics courses.
Concise but rigorous, not simplified
The course's explicit framing as 'concisely focused yet rigorous' signals that graduate-level economic rigor is maintained even within a condensed foundational format, not sacrificed for the sake of brevity.
Preparing students for advanced economics coursework
MBA-502 is explicitly designed to prepare students for upper-level economics electives, meaning its foundational content is chosen specifically to support genuine advancement into more specialized economic study later in the program.
Key topics in MBA502
- Market behavior and demand theory
- Elasticity concepts
- Production and cost theory
- Competitive market decision-making
- GDP, unemployment, and inflation
- Fiscal and monetary policy
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Worked example: microeconomics informing managerial decisions
- Abstract economic theory: Understanding how firms behave differently in competitive versus imperfectly competitive markets
- Managerial application: Using that understanding to decide how aggressively to price a product given the actual competitive landscape a manager faces
- Lesson: MBA-502 teaches that economic theory's real value for MBA students lies in this direct connection to genuine managerial decision-making
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Frequently asked questions
MBA students need both perspectives together to make sound business decisions — microeconomic concepts like demand theory and competitive market behavior inform firm-level decisions, while macroeconomic concepts like GDP, unemployment, and monetary policy shape the broader economic environment businesses operate within — and understanding how these two levels interact provides a more complete decision-making framework than either alone. MBA-502 combines both because real business decisions are genuinely shaped by both firm-level and economy-wide economic forces simultaneously.
As a foundational graduate course, MBA-502 is designed to build the core economic literacy — key theories, vocabulary, and analytical frameworks — that more specialized upper-level economics electives will assume students already possess, meaning its scope is deliberately foundational rather than comprehensive. MBA-502 frames itself this way because its role in the curriculum is specifically to enable meaningful engagement with more advanced, specialized economic study later in the program, not to cover economics exhaustively on its own.