Following this course, students will be able to:

• Model cost functions and recognize the issues in cost and production data collection
• Identify factors that influence a firm’s decision to internationally expand horizontally and/or vertically
• Understand the calculation and uses of cost of capital and net present value
• Model and forecast demand using various functional forms
• Estimate and use price elasticity to determine optimal price
• Define market structure and calculate market concentration
• Apply game theory models to business situations
• Explain how cost-benefit analysis and cost effectiveness are used to determine a change in government policy or programs