Applied Economics for Business Decision Making (UD)

- to expand the knowledge of elementary microeconomics into the field of business decision-making,
- to provide students the necessary analytical tools and enable them for making business decisions based on economic concepts
- to enable student to use their knowledge of economics in the application of business sciences

I. Business decision-making criteria
1. Company objectives
2. Business decision-making criteria under certainty
3. Business decision-making criteria under uncertainty

II. Short-term decisions in a company
1. Economic costs
2. Demand analysis
3. Production decisions
3.1 Optimal production
3.2 Contribution analysis
4. Pricing decisions
4.1 Pricing under market power
4.2 Pricing of new products
4.3 Competitive bidding and price quoting

III. Long-term decisions in a firm
7.1 Internal organization of firms
7.2 Adjustment of production capacity