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Sep 07, 2024
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MGT 5020 - Organizational Economics, Budget and Finance
credits: 3.0
This course provides students with an essential understanding of the key components of economics, including market processes, consumer behavior, and organizational economics as well as the budgeting process. Students will learn how to use decision making as a critical tool in budget development, how to evaluate the financial status of a department or operating unit, and how to determine corrective actions that may need to be taken. Students are taught analytical methods that support sound management and decision making, including benefit-cost ratio analysis, variance analysis, and break-even analysis. Benchmarking, productivity improvement techniques, and methods for building cost standards will also be covered. Student will be introduced to reading and comprehending financial statements and reports in order to evaluate departmental or operating unit financial performance.
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