{"@context":"https://w3id.org/openbadges/v2","id":"https://milestone.campuslabs.com/api/v20/badge/405913792/","uid":"405913792","name":"Managerial Economics","description":"Offered through The George B. Delaplaine Jr. School of Business at Hood College, the Managerial Economics badge involves the application of microeconomic theory to the business enterprise and the managerial decision-making process. Topics include goals of a firm, decision criteria, analysis and estimation of demand, production and costs, and pricing to achieve the firm’s objectives under various market conditions.","type":"BadgeClass","image":"https://milestone.campuslabs.com/milestone/media/badge_image_uploads/2025/09/12/HC_SA_Business_ManagerialEconomics_A.png","criteria":{"id":"https://milestone.campuslabs.com/org/1323717515/badge/405913792","narrative":":multi: This ADVANCED level badge is equivalent to a 3-credit, master's-level course. Earning a grade of B or better is required for this badge. -- 1. Demonstrate proficiency in applying economic tools and techniques to prepare, interpret, analyze and present data for problem solving and decision making.\n2. Assess how markets respond to changes in supply and demand and evaluate implications for managerial decisions.\n3. Calculate and interpret how demand changes with variations in price and income; analyze consumer equilibrium.\n4. Apply marginal analysis to determine optimal production levels and pricing strategies across different market structures.\n5. Evaluate pricing options and firm strategies under imperfect competition, including game-theoretic approaches to interdependence.\n6. Develop and execute a structured research project, including literature review, data sourcing, descriptive and inferential statistical analysis, regression modeling and effective communication of findings.\n7. Recognize how macroeconomic, industry and global factors create opportunities and challenges for business strategy.. "},"issuer":"https://milestone.campuslabs.com/api/v20/issuer/1323717515/","tags":["Analytical Thinking","Data Analysis","decision-making","Problem Solving","Strategic Thinking","Economic Modeling"],"alignment":[{"targetName":"Communication","targetUrl":"https://www.hood.edu/offices-services/institutional-assessment/institutional-learning-outcomes","targetDescription":"The badge earner will communicate clearly and effectively in oral, written and/or visual formats, consistent with the standards of their discipline.","targetCode":"GSO_Comm"},{"targetName":"Research","targetUrl":"https://www.hood.edu/offices-services/institutional-assessment/institutional-learning-outcomes","targetDescription":"The badge earner will identify and explore relevant questions and/or problems by accessing, evaluating, applying and/or conducting research using discipline-specific strategies.","targetCode":"GSO_Res"},{"targetName":"Critical Reasoning","targetUrl":"https://www.hood.edu/offices-services/institutional-assessment/institutional-learning-outcomes","targetDescription":"The badge earner will approach content and tasks with a critical awareness, framed by knowledge and skills appropriate to their discipline.","targetCode":"GSO_CriReas"},{"targetName":"Problem Solving","targetUrl":"https://www.hood.edu/offices-services/institutional-assessment/institutional-learning-outcomes","targetDescription":"The badge earner will apply advanced disciplinary content knowledge and strategies to understand and address problems and questions relevant to their discipline and to which they have not previously been introduced.","targetCode":"GSO_ProbSolv"},{"targetName":"Diversity","targetUrl":"https://www.hood.edu/offices-services/institutional-assessment/institutional-learning-outcomes","targetDescription":"The badge earner will recognize and engage diverse ideas, perspectives and/or traditions that inform their discipline, profession and graduate experience.","targetCode":"GSO_Div"},{"targetName":"Professionalism","targetUrl":"https://www.hood.edu/offices-services/institutional-assessment/institutional-learning-outcomes","targetDescription":"The badge earner will engage in legal, ethical and professional behaviors consistent with their discipline, including leadership, teamwork and/or other responsibilities to key stakeholders.","targetCode":"GSO_Prof"}]}