Managerial economics is the study of the application of economic theory and concepts to business decisions. This course builds upon the introductory economics material in MBA 711-Business Environment, including factors of production, supply and demand, degrees of competition (or market structures), macroeconomic indicators, money and the financial system, and international trade and finance. These micro- and macroeconomic topics are developed and explored in much greater depth in this course. In addition to the traditional managerial economics coverage of consumer demand and firm production in perfect competition, this course extends the study to include other market structures, such as oligopoly, and also places needed focus on the macro economy at both the national and multinational levels. The tools and approaches of economics are studied for their capacity to inform business decisions involving the product, firm, industry, and business cycle.