ecogm561 | Graduate
This graduate-level course is 6 weeks This course is available as part of a degree or certificate program. To enroll, speak with an Enrollment Representative.
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Market Structure & Strategic Choice
- Differentiate among the pure competition, monopolistic competition, oligopoly, and monopoly market models in a global environment.
- Describe pricing and nonpricing strategies in monopolistic competition, oligopoly, and monopoly market models.
- Analyze the relationship among technology advancement, research & development, economic efficiency, and market structure.
- Analyze the efficiency of commercial policies used to protect national industries.
The Basic Concepts for Economic Reasoning
- Analyze the role of U.S. in a global economy.
- Explain basic concepts of economics, such as scarce resources, choices among alternatives, and rational behavior.
- Explain the economizing problem and the models used in economics.
- Analyze how the laws of supply and demand determine equilibrium price and quantity in global markets.
- Apply the concepts of elasticity in business decision-making.
Business Beyond National Borders
- Explain the concept of comparative advantage and its recommendation for specialization.
- Explain how countries choose industries in which they have comparative advantage.
- Analyze barriers to free trade and the reasons countries impose them.
- Analyze how the foreign exchange market works and how exchange-rate risk is managed.
Macroeconomic Measurement & Basic Concepts
- Explain the concepts and measurement of Gross Domestic Product (GDP) applied across countries.
- Analyze the trend and cycles of GDP growth and how the business cycles in one country are linked to business cycles in other countries.
- Analyze the causes and remedies of unemployment and inflation in a global environment.
- Analyze the basic macroeconomic relationships in an open economy.
Money, Creation & Control, and Monetary Policy
- Define the concept of money.
- Explain how banks create checkable deposits by issuing loans.
- Evaluate a central bank’s monetary policy in stabilizing a domestic economy and its impact on other countries.
- Analyze the impact of one country’s macroeconomic policies, including trade, capital, and exchange rate policies, on the flow of goods, services and capital of other countries in its region.
Cost Concepts & Profit Maximization
- Analyze different costs of production in a firm.
- Explain profit maximization principles in a purely competitive market.
- Apply incremental cost and contribution analysis to make a business decision.
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