This course discusses the application of economic principles and methodologies to the decision-making process of firms or organizations. Rules and principles are introduced that aim at facilitating the attainment of the desired economic goals of management. Economic theory and the analytical tools of decision science are integrated to examine how an organization can achieve its goals most efficiently.

CILO-1: Apply economic tools to analyse various business scenarios and make informed business decisions that are backed by sound economic reasoning. CILO-2: Explain various factors that influence demand, production, and costs related to business's production decisions. CILO-3: Analyze pricing strategies and make informed decisions on how to price their products or services to maximize profits while taking into consideration the competitive landscape. CILO-4: Evaluate how strategic behaviour and incentive design impact organizational performance and apply this knowledge to make better business decisions.