Applied Economics for Business Decision Making

Program Details

A 2-day training program designed to equip the participants with the fundamental concepts and tools of Economics necessary for making informed business decisions.

The training is tailored to provide understanding of microeconomic and macroeconomic theories and their practical applications in the context of today’s dynamic business landscape.

The training is loaded with case studies that apply economic tools to real-world scenarios.

Duration:

2 days

For Whom:

Individuals who are involved in strategic planning, decision-making and analysis within an organization.

Register Here

Contents

Foundations of Economic Thinking

  • Introduction to Economics
  • Scarcity, Opportunity Cost, and Resource Allocation
  • Role of governments, firms, and stakeholders in managing the economy

Microeconomic and Macroeconomic Fundamentals

Understanding Microeconomics

  • Demand and Supply Models
  • Cost of Production and Cost Analysis
  • Market Structures

Microeconomic Landscape

  • GDP, Growth, Inflation, and Unemployment
  • Monetary and Fiscal Policies
  • Globalization and International Trade

Economics of Industry

  • Porter’s Five Forces Analysis
  • Competition and Barrier to Entry
  • Basic Understanding of Game Theory

Applying Economics to Business Decisions

  • Pricing Strategies for Profit Optimization
  • Cost Optimization – Make vs Buy vs Lease Decisions
  • Market Analysis and Demand Forecasting
  • Labor Market Dynamics and Human Resource Management

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