BADM 730 | Economics of the Firm (3 credits)

Instructor: Kambiz Raffiee, Ph.D.; Associate Dean, College of Business; Director, MBA Program; and Professor of Economics

Economic analysis of the business firm, particularly with respect to price, output and technological choice; the effect of diversity on domestic and international policy on business firm behavior.


  • Developing an understanding of basic economic and quantitative principles as applied to consumer behavior, demand theory, production theory, market structure, strategic pricing and positioning of firms, and evaluating the external business, legal, and regulatory environment for the firm and organization

Upon completion, students will be able to:

  • Apply problem solving techniques and analysis to a variety of situations that confront modern businesses and organizations; to better understand the role of modeling and statistical analysis in analysis and decision-making in the organization

EMBA Learning Objectives and Outcomes

The overall learning objectives for the EMBA are a broad set of knowledge and skills we wish students to acquire and hone over the course of the program. Objectives represent the collective thought of the program’s faculty about the most valuable intellectual attributes of an executive at any point in his/her career.

The overall learning objectives form a central framework for the curriculum to which each course-specific set of objectives may be mapped, allowing courses to be woven together by common threads. Having a shared viewpoint of the educational content we wish to provide allows our faculty to continuously improve their courses, while maintaining a focus on the outcomes that are desired.

Learning Objectives and Outcomes Key:

  1. The ability to use evidence-based reasoning to understand, manage, and lead complex organizations.
  2. Development of skills that facilitate problem solving in a  complex and dynamic environment.
  3. The ability to integrate qualitative and quantitative  information into the decision making process.

Course specific mapping for BADM 730:

  • Summarize how goals, constraints, incentives, and market rivalry affect economic decisions (L.O.: 1,3)
  • Distinguish economic versus accounting profits and costs (L.O.: 2)
  • Explain the role of profits in a market economy (L.O.: 2,3)
  • Apply the principles of market competition to analyze the sustainability of an industry’s profits (L.O.: 2,3)
  • Apply present value analysis to make decisions and value assets (L.O.: 2)
  • Apply marginal analysis to determine the optimal level of a managerial control variable (L.O.: 2)