HBX Economics for Managers immerses participants in case studies of a growing online retailer, a ticket reseller, a multinational publishing company, and other firms. Participants step into the shoes of the leaders of these companies as they evaluate market demand, wrestle with pricing strategy, and look to identify ways to differentiate themselves in the marketplace. The course brings fundamental concepts of economics—encountered by many only in textbooks—to life in the context of real business situations.
Bring the power of economic thinking to strategy decisions
The essential concepts of economics taught in Economics for Managers are the building blocks of successful business strategy. Understanding willingness to pay and willingness to sell, fixed versus variable costs, complements, and network effects prepares participants for business discussions and decision-making.
Manoj applied some of the key concepts taught in the program—the wedge between willingness to pay and willingness to sell, for example—to the development of a new pricing strategy for the strategic business plan of his business unit.
“[Economics for Managers] has unveiled powerful tools to me which are very useful in my current role.” ~ Manoj
The concepts learned in the course gave Nick the language to make the case for a solar energy project at his organization.
“Having a better business vocabulary and understanding the underlying concepts has really helped me to contribute more productively to conversations and decisions.” ~ Nick
Evaluate entrepreneurial opportunities through the lens of economics
Some of our past participants in Economics for Managers have applied lessons from the course to their own start-up ideas. Milo has leveraged the course to help with pricing two new software products:
“I can now say I have a game plan because of this course." ~ Milo
The course also helped Nick evaluate the business model and strategy of his potential venture.
“The course has made me think more carefully about how I could create a competitive cost structure and make appropriate plans before entering the market. [Conjoint analysis] has also helped me think about what product features my consumers would really value and how to highlight those features.” ~ Nick
Stand out from the crowd in your job search
Economics for Managers teaches participants how firms differentiate themselves in the market. The course has also helped past participants differentiate themselves in the job market. Anthony shared his experience at a conference for fellow engineering students:
“During my conversation with a Boeing recruiter (my dream company), he was curious about my experience with HBX. He asked ‘What was the most impactful thing you learned from Economics for Managers?’ Sparing details, I responded with the concept of WTP [willingness to pay] and how important it is to understand how to price a product. He loved my response, and I was fortunate to receive an interview, which led to an offer. Understanding E4M [Economics for Managers] helped me diversify myself as a STEM student in a conference full of technical perspectives.” ~ Anthony
Chirag has also found opportunities to tout his HBX experience in interviews:
“Prior to taking Economics for Managers, I was not able to effectively convey my strong interest in business in an interview. Now I can state my interest with more confidence and back it up with the most intriguing concepts I learned, like strategies for assessing and increasing demand including conjoint analysis, revealed preference and network effects. And boy, does it work like a charm.” ~ Chirag