ECON 2400: Quantitative Problem-Solving Techniques

3 Credit Hours

Prerequisite: MATH 1001 or MATH 1111 or MATH 1113 or MATH 1160 or MATH 1179 or MATH 1190 or MATH 2202
Description:
This course provides an introduction to linear, quadratic, polynomial, exponential, and logarithmic functions, inequalities, basics of statistics and probability, with the emphasis on business applications. Empirical examples may be used to illustrate statistical applications within business settings. The course is taught from a practice-based perspective. It entails focusing on practical business-centric problems and using them as examples of how the quantitative tool or technique can aid in solving the problem.

Course Learning Outcomes

Students who successfully complete this course will be able to:

Introduce methods for organizing, summarizing, and presenting data and the relationship of economic variables.
Demonstrate the role of data analysis in supporting the decision-making process in a variety of business contexts.
Show the importance of quantitative techniques in the following settings: data management & summary measures; data visualization; probability and business decision making; launching new products; cybersecurity threat analysis; quality control; website usage analysis; service call center staffing; net present value; growth/depreciation rates; pricing strategies & break-even analysis; max or min profit & budget allocation; production levels; analyzing multiple factors that affect consumer behavior.