ECO 5XXX - Economic Analysis for Technologists

Credits: 3

Course Description: The course applies the tools of economic analysis to develop a systematic approach to critical thinking about problems in science and technology management, particularly under conditions of incomplete or imperfect information. Topics include: time value of money; risk and uncertainty; demand approximation and forecasting; information acquisition, use, and value; real option value; optimal production and pricing under uncertainty; peak load pricing and optimal capacity; decisions in strategic environments, firm structure.
Prerequisites: Permission of program director