MBA 513 Foundations of Economics

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The MBA 513 Foundations of Economics course is all about basic micro and macroeconomic principles related to decision making. This course lays the foundation for a comprehensive understanding of economics. It includes two aspects of economic research (microeconomics and macroeconomics). Microeconomics explains the economic decisions of individual economic agents, while macroeconomics describes the functioning of the economic system and its behaviour as a whole. To help students better understand relevant discussions and act in an orderly manner, this course is divided into five parts. 1) Introduction to Economics; 2) Market, its concepts and operations, comparative statics, market failures and discussion of efficiency; 3) Product and factor markets and their structure; 4) Macroeconomic dimensions, models and fiscal policy; 5) Currency, banking and monetary policy.

This MBA 513 Foundations of Economics course presents the fundamentals of probability and statistics used in management and covers the fundamentals of data analysis and visualization, as well as descriptive measures. In addition, this course aims to teach basic and advanced features and functions of Excel, including summary, description, and reporting techniques.

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