Students examine key economic concepts critical to managerial decision-making within today’s business environment, including microeconomic and macroeconomic principles. Microeconomic topics addressed include supply and demand, consumer and competitor behaviors, cost analysis, and pricing and output decisions within various market structures. Students explore issues related to public policy and regulation as they apply to market dynamics and business decision-making. Students consider macroeconomic concepts in the national and worldwide economic environment within which businesses operate, with an emphasis on real-world applications. Students gain an understanding of gross domestic product, unemployment, investment, interest rates, the money supply, inflation, exchange rates, international trade, business cycles, and fiscal and monetary policy.