Managerial Economics: Principles and Tools

MBA604 Managerial Economics For Decision Making

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Task

CLO Description

1. Demonstrate comprehensive and highly specialized knowledge of economic principles that can be applied to company decision making. The emphasis is on practical problems that may face anyone in a management position in three major decision areas: cost and production analysis, pricing strategy, and competitive strategy. (Knowledge)

2. Demonstrate advanced knowledge of principles and methods (techniques) of applied research in microeconomic principles and concepts related to managerial decisions at the firm level. (Knowledge)

3. Analyze highly complex business problems using economic tools and develop innovative solutions (Skill).

4. Conduct economic and critical analysis in three major managerial decision areas: how to conduct production and cost analysis, demand analysis and forecasting, pricing decisions and the long-run aspects of company strategy. (Skills)

5. Use economic concepts and techniques to make managerial decisions under uncertainty. (Skill/Authority and Responsibility)

6. Optimize production, cost, demand and profit decisions by applying the tools and concepts of microeconomic theory. (Skill)

Following are the instructions for Sumitting the first Assignmnet.

Do a research on Etisalat Telcom company and answer the following questions with respect to Etisalat Telcom Company.

1. What is their pricing policy and what is the market structure?

2. How market structure affect pricing policies of Etisalat?

3. What are the major policies of pricing a product?

4. How the price elasticity of demand affect pricing decisions?

5. How do you forcast demand?

6. Collect available data and forcast demand for Etisalat.

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