Provides a comprehensive treatment of basic statistical concepts for managers. Topics covered include elementary probability theory as a tool for modeling uncertainty in business, time series, categorical data, random variables and their distributions, variability and regression models. The emphasis is on understanding the concepts and their application. The course will also introduce and apply advanced tools to managerial decision problems with the objective of enhancing the decision making capabilities. The course will cover optimization (finding ‘what’s best’ from the available options), simulations (trying ‘what if’ in uncertain environment turns out to be different from expected) and decision analysis (deciding the ‘what now’ in the sense of what we should do given the information we had in the past).
Courses on Understanding Business Environment
Introduces generally accepted accounting principles and concepts along with the preparation and analysis of financial statements. The course will cover EBITDA, Revenue and expense recognition, Mergers and Acquisitions, forecasting financial statements and credit analysis. It will strengthen the understanding of the financial statements and helps to understand the state of a firm’s financial condition so that realistic valuations can be made for investment, lending and mergers and acquisitions purposes.
The objective of this course is to introduce the core principles of microeconomics, to develop theories to help organize their thinking about both firm-level and market-level issues, and to apply these principles and theories in several case studies. The topics covered in this course include the economics of competitive market, market efficiency and economic surplus, government intervention in competitive markets, firm decision-making in different market situations and game theory and strategic thinking. The focus will be on fundamental economic principles that can be used by managers to think about business problems, including those inside the firm (relating to the problem of administering the firm’s resources in the most cost effective way) and those outside the firm (relating to broader market and government forces that can affect the behavior of firms.)
In this course, we will understand the process by which consumers and firms make decisions and the way in which they interact in markets thereby affecting the national and the global economy. The business environment has much to do with the types of strategies that are feasible and the efficiency with which firms can operate. Therefore, understanding both the national and international economic environment is crucial to making informed business decisions. The course will explore how “shocks” affect aggregate economic conditions nationally and globally, and the implications that follow for firms.