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    Pepperdine University
   
 
  Nov 25, 2017
 
2017-2018 Graziadio Academic Catalog 
  
2017-2018 Graziadio Academic Catalog

ECNM 657 Prices, Profit, and the Market Economy (4)


This economics course examines the domestic and global production and distribution of goods and services as guided by the market economy. Emphasis is on how the firm remains competitive through the improvement of resource allocation, production, and profits under changing economic conditions. A study of changing and competitive industries in which firms operate is also an area of focus. The impact of the external economic environment on the firm’s microeconomic decision making also is studied.

Student Learning Outcomes
  1. Describe and illustrate how the competitive market works
  2. Demonstrate ability to efficiently allocate resources
  3. Identify the behavior and dynamics of the different market structures
  4. Predict market behavior in the changing economic environment