Economics for Defense Managers

Course #GE3070

Est.imated Completion Time: 3 months

Overview

Develops the fundamental tools of microeconomics and macroeconomics, and applies them to defense management and resource allocation. Course centers on defense applications of economic theory. Topics covered include: defense and the macro economy; markets and their interactions with defense acquisition and contracting; national security implications of globalization; and efficiency in defense decision making.

Included in degrees & certificates

192
857

Prerequisites

MA2XXX
College algebra.

Learning Outcomes

After completing the course, you will be able to:

Basic economic concepts:

· Recognize the key economic concepts used in CBA (cost-benefit analysis).

· Articulate how people and countries benefit from specialization and trade.

Microeconomics:

· Apply the supply-demand model to analyze how markets allocate resources using prices.

· Explain how elasticity affects revenues and policy debates.

· Analyze market efficiency and market outcomes under different government policies.

· Evaluate when and how governments can negatively or positively affect markets.

· Analyze how competition influences production and pricing decisions of firms.

Macroeconomics:

· Explain the meaning and interpretation of key macro-economic measures such as GDP, inflation,

· and unemployment.

Cost-benefit analysis:

· Explain the basic steps of CBA

Offerings database access

Asset Publisher

Application Deadlines

08 Jul 2024

Fall Quarter applications due