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November 4, 2024
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Unravel Economics to Drive Business Decisions. Learners will be able to use economic logic and statistical analysis to make complex decisions that consider microeconomic factors, macroeconomic indicators, and central bank policies to obtain a competitive advantage in their professional practices and personal lives.
Instructors: Fataneh Taghaboni-Dutta, Ph.D., PMP, CSM, CSPO
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(2,700 reviews)
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Beginner level
Some familiarity with economic reasoning and concepts is recommended.
(2,700 reviews)
Recommended experience
Beginner level
Some familiarity with economic reasoning and concepts is recommended.
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In the exceedingly fast-paced business world, growing business demands a clear grasp of how a firm obtains a competitive advantage in its operations, how the business cycle and monetary policies impact the firm’s ability to maximize shareholders’ wealth, and how to obtain and efficiently use data to develop actionable business strategies. The Managerial Economics and Business Analytics Specialization is targeted towards aspiring managers, senior managers, and business executives who wish to have a well-rounded knowledge of firm-level and country-level economics, modern financial institutions and central bank policies, and statistical data analysis and business decision-making.
The courses in this specialization will focus on microeconomics, macroeconomics, monetary policy, statistical analysis, and business decision-making. Topics covered include:
Analysis of the allocation of scarce resources and consumer and producer decision-making.
Modeling the impact of external shocks on markets and government response to such market changes.
Assess how changes in fiscal and government policies may influence the macroeconomic, financial, and business environment.
Extract and act upon relevant information from financial and economic news.
Make inferences about the population using appropriate sampling methods and statistics.
Use predictive modeling and interpret the meaning of the results in a managerial setting.
Applied Learning Project
A central premise of these courses is that applying targeted subject-matter expertise is crucial in order to understand the economics of business decisions both at the micro level and at a macro level so that economic and financial data can be used to implement ideal business strategies. Each subject area will be followed by a project-based application and analysis exercise.
Describe consumer behavior as captured by the demand curve and the supply curve.
Explain the impact of taxes and price controls on market equilibrium.
Explain elasticity of demand.
Describe cost theory and how firms optimize given the constraints of their own costs and an exogenously given price.
Explain how different market structures result in different resource allocations.
Model the impact of external shocks to a particular market structure and demonstrate the new equilibrium price and quantity.
Explain when and why the government might intervene with regulatory authority or antitrust litigation to lessen inefficiencies in some markets.
Describe how information problems can cause inefficient outcomes.
Summarize large data sets in graphical, tabular, and numerical forms.
Understand the significance of proper sampling and why you can rely on sample information.
Use sample information to infer about the population with a certain level of confidence about the accuracy of the estimations.
Use Excel for statistical analysis.
Test for beliefs about a population.
Compare differences between populations.
Use the linear regression model for prediction.
Learn how to use Excel for statistical analysis.
Appreciate how money and finance can benefit the real economy.
Describe how modern banks earn a profit.
Compare and contrast banks with other providers of debt finance and payments.
Explain why financial regulations are needed and their impacts.
Describe and understand the functioning of the key money markets.
Describe the main policy objectives of central banks.
Examine how, by controlling interest rates, monetary policy influences inflation and unemployment.
Describe how monetary (and fiscal) authorities respond to stress in financial markets.
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
This Specialization is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹
This Specialization is part of the following degree program(s) offered by University of Illinois Urbana-Champaign. If you are admitted and enroll, your completed coursework may count toward your degree learning and your progress can transfer with you.¹
University of Illinois Urbana-Champaign
Degree · 2 – 3 years
¹Successful application and enrollment are required. Eligibility requirements apply. Each institution determines the number of credits recognized by completing this content that may count towards degree requirements, considering any existing credits you may have. Click on a specific course for more information.
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Time to completion can vary widely based on your schedule, most learners are able to complete the Specialization in 3-6 months.
Each course in the Specialization offers regular and open enrollment. You can begin and complete the course on your own schedule.
Some familiarity with economic reasoning and concepts is recommended
It is recommended that the courses in the Specialization be taken in the order outlined. Some courses do list other courses as prerequisites. In the Capstone Project, you will have the opportunity to synthesize your learning in all six courses and apply your combined skills in a final project.
Courses on Coursera do not carry University of Illinois credit on their own. Each iDegree course has an enhanced for-credit component. You can earn academic credit if you combine an open online course with the enhanced for-credit component offered on the University of Illinois platform. To learn more visit https://giesbusiness.illinois.edu/graduate-hub/online. Some universities may choose to accept Specialization Certificates for credit. Check with your institution to learn more.
You will have a solid grasp of microeconomic theory and its use in the analysis of resource allocation and contemporary business problems.
You will be able to describe and analyze the operation of markets and how markets arrive at equilibrium outcomes.
You will use the “language” of microeconomics, macroeconomics, policy analysis, and statistical analysis correctly and confidently.
You will deal with uncertainty by using statistical methods for making inferences and decisions on the basis of limited information/data.
You will use your knowledge of complex relationships among economic indicators, fiscal and monetary policies, your industry’s structure, and your firm’s resources to both create effective business strategies and develop tactical approaches to achieve the strategy goals.
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. If you only want to read and view the course content, you can audit the course for free. If you cannot afford the fee, you can apply for financial aid.
This course is completely online, so there’s no need to show up to a classroom in person. You can access your lectures, readings and assignments anytime and anywhere via the web or your mobile device.
Please find more information at https://giesbusiness.illinois.edu/graduate-hub/online or email your questions to giesonline@illinois.edu
If you subscribed, you get a 7-day free trial during which you can cancel at no penalty. After that, we don’t give refunds, but you can cancel your subscription at any time. See our full refund policy.
Yes! To get started, click the course card that interests you and enroll. You can enroll and complete the course to earn a shareable certificate, or you can audit it to view the course materials for free. When you subscribe to a course that is part of a Specialization, you’re automatically subscribed to the full Specialization. Visit your learner dashboard to track your progress.
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.