- CEO’s Team: General Managers, Business Unit Managers, Finance Managers, Operations Managers, Human Resources Managers, Marketing Managers, Sales Managers, Project Managers, Entrepreneurs, and Business Strategy Consultants.
- Provides an understanding of the economic environment and its impact on strategy formulation
- Offers experiential analysis to understand the challenges of CEOs and General Managers in adapting to the changing economic environment
- Offers ideas and tools to understand the forces of local and global economies, including governmental regulations, international relations, global consumers, global production and international business
- Focuses on the impact of economic policies on managerial decision-making, by providing an understanding of fiscal policy, and local and global economic issues affecting business
- This course emphasizes strategic managerial decision-making. It does not focus on mathematical models or technical analysis
- Develop the core managerial economics skills and competencies. The core competencies include economics knowledge, planning, control, problem-solving and communication.
Course Outline / Customization Subjects
- Business Economics: Introduction to economic analysis, with an emphasis on firms, their market and operating environment. Pricing and output decisions. Cost and profit determination in competitive and monopolistic markets. Macroeconomic factors and policies affecting business activity in a free and open economy.
- Microeconomics: Introduction to the economic behaviour of individuals and firms with emphasis on output and price determination in the various market structures. Study of the allocation of scarce resources among competing end uses. Analysis also includes concepts of expected utility and uncertainty, and welfare economics.
- Macroeconomics: The economic activity of the nation at large and its interrelationships with the rest of the world. This module also covers the measurements of economic activity, determination of aggregate income, money, banking and prices, exchange rates, the balance of payments and government macroeconomic policy, national output, unemployment, inflation and interest rates It also analyses the outcome of alternative government policies related to economic problems.
- Innovation Economy: Policies and programs to promote innovation and global competitiveness.
- International Business and Global Economy: The development of the global economy and the driving forces and consequences of growing interdependency among nations. Changing patterns of trade and migration of capital and labor are analyzed, as are cyclical and secular trends in output, employment and investment.
ASMAC’s managerial economics training courseware includes:
- Participant’s coursework and assessment project guide
- Executive summary of the subject matter (in power-point lecture notes format):
- Summary of essential concepts and management best practices
- Examples and case studies
- Management toolkit (management frameworks, decision models, checklists, etc.)
- Experiential work-based assessment project
- Online resources for the completion of the experiential assessment project
Performance Evaluation (Optional):
- Performance will be evaluated based on individual or team project deliverables
- Candidates can complete customized experiential / work-based projects such as developing a relevant analysis document, management strategy, action plan or a senior management presentation
- ASMAC course advisor will review the deliverables and provide improvement feedback
- There are no traditional quizzes or theoretical exams.
- For accelerated team workshops, participants must have similar levels of experience. This is not required for public courses or individual self-paced distance-learning courses