Institutions and market for labor. Theories of wage rates, employment, labor income, effective demand. Wages relative to cost, prices, social income, investment, productivity and price stability, economic growth. Theories and policies for full employment. Impact of automation. Prerequisite: ECO 2013 and 2023 or ECO 3003.

ECP 4703 Managerial Economics . . . . . 3(3,0)

Tools of economic analysis in operation of business firm; applied microeconomics designed to aid making of decisions in anticipation of cost, revenue and profit behavior. Prerequisite: ECO 2013 and 2023 or ECO 3003.

ECP 6705 Advanced Managerial Economics . . . . . 3(3,0)

Concepts of competition as they relate to business management policies and practices; profit goals and measurement problems; multiple product policy; demand analysis; cost concepts; pricing problems; case studies.

ECP 6726 Business and the Economic Environment . . . . . 3(3,0)

Effect of environment on business decision making. Student takes role of strategic planner in evaluating alternative firm strategies in the presence of alternative economic and/or regulatory scenarios. Focuses on the impact on the business environment of aggregate economic relationships such as cyclical fluctuations, interest rates and international economic linkages. Role of data analysis and forecasting the macroeconomic environment. Subcomponents of the course address strategic planning for various elements of the business environment. Prerequisite: ECO 2013 and 2023 or ECO 3003.

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