Econ for Managers

Fall 2013 Online


Economics is an intriguing and difficult topic to master, and one which many see as irrelevant to them personally. The reality, however, is that regardless of their focus on profits and income, all firms and all individuals exist within an economic climate and must face the issues related to this important topic. This course will introduce you to the decision-making role that managers of firms face in relation to the field of economics.

For many of us, the tedious and almost incomprehensible formulas that often are associated with economics cause us to lose interest. Economics is a fascinating study of a field that intersects finance, law, politics and philosophy. It is our goal over this brief journey to transcend theory and find practical application in the world of economics. It is particularly acute in our current environment that we gain greater understanding of the underpinnings to our own economy. The recent presidential election identified “concerns over the economy” as the number one issue of focus for most voters.

This course is taught from a managerial and overview perspective and will provide you broad knowledge of the issues, activities, strategies and tools that have been identified to assist in the economics area. The focus of our discussion will be in understanding relationships among variables and how these understandings guide us in key decisions that must be made by managers of a firm. Although we will utilize a number of formulas and graphically depict the relationship between variables, we will attempt to focus on understanding and interpreting the concepts represented. The application of these principles is useful both personally and corporately as we seek better understanding.

Please begin by:

1) Watching my introductory video (at the top of the main course page).

2) Printing and thoroughly reading the course syllabus.

3) Posting a response in the Introductions discussion forum so that we all can get to know each other.

Once you've completed all of these steps, you should be ready to start on your Week 1 assignments! I look forward to our time together exploring this interesting and challenging area. I am certain that your efforts will be rewarded as you continue to stretch through this program and experience anew this exciting world of economics.

With high regard and encouraging hope,

Sam Heinrich, M.B.A.