BUS 501 - Economic Principles

Institution:

Robert Morris University Illinois

Subject:

Description:

This course examines economic principles with emphasis on their applications to business decision-making. Topics include market analysis (supply and demand), price elasticity, profit maximization, market structure and the firm's output and pricing decisins. The course is also an introduction to probability theory and statistics, and their application to data description and analysis. Topics include data description using graphs and numerical measures, probability and probability distributions, estimation and simple linear regression. Emphasis is placed on the application of these techniques to practical business problems through the use of standard statistical software. (This course is waived with a ? B? or better grade in SSC 304 or equivalent and a ?B ? or better grade in MAT 320 or equivalent.)

Credits:

4.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.robertmorris.edu/

Phone Number:

(312) 935-6800

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Quarter

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