Online Course – Certified Professional Internship in Managerial Economics and Business Analysis from the University of Illinois at Urbana-Champaign

Develop economic understanding for business navigation. The course provides participants with tools to use economic logic and statistical analysis to reach complex decisions, while addressing microeconomic factors, macroeconomic indicators, and central bank policies to achieve a competitive advantage in professional and personal life.

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Professional Certificate

Beginners

No prior knowledge required

Time to complete the course

7-day free trial

No unnecessary risks

Skills you will acquire in the course

  • Critical thinking
  • Decision Making
  • Troubleshooting
  • Communication capabilities
  • Teamwork
  • Time management
  • Leadership principles
  • Sales skills
  • Digital literacy
  • Research skills

What you will learn in the course

Courses for which the course is suitable

  • Business Manager
  • Senior Manager
  • Business Analyst
  • Economics Manager
  • Monetary Policy Manager
  • Data Analyst
  • Financial advisor
  • Strategy Manager
  • Research and Development Manager
  • Economic Project Manager

Internship – 6-lesson course series

In the fast-paced world of business, business managers need a clear understanding of how a company can achieve a competitive advantage in its operations. They need to understand how the business cycle and monetary policy affect a company’s ability to maximize shareholder wealth, and how to effectively obtain and use data to develop actionable business strategies. The specialization in Managerial Economics and Business Analysis is designed for ambitious managers, senior executives and senior business executives who are interested in broad knowledge of economics at the company and country levels, modern financial institutions and central bank policies, and in analyzing statistical data and making business decisions.

Course content

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 limited resources and consumer and producer decisions.
  • Modeling the impact of external shocks on markets and the government’s response to market changes.
  • Assessing the impact of changes in fiscal and government policy on the macroeconomic, financial and business environment.
  • Searching and extracting relevant information from financial and economic news.
  • Drawing conclusions about the population using appropriate sampling and statistical methods.
  • Using predictive models and interpreting the meaning of the results in a managerial context.

Practical learning project

A central idea of ​​these courses is that the application of focused technical knowledge is critical to understanding the economics of business decisions at both the micro and macro levels, so that economic and financial data can be used to execute ideal business strategies. Each topic area will be accompanied by an applied project and analysis practice.

Details of the courses that make up the specialization

Society-level economics: consumer and producer behavior

Course 1 • 17 hours • 4.8 (2,421 ratings)

Course Details
What will you learn?
  • Every good and service is subject to some level of scarcity, which requires society to develop an allocation mechanism to determine who gets what.
  • In the past, the rules of allocation were command-based, meaning the king or emperor would decide.
  • In the modern era, most countries have turned to market-based allocation systems.
  • In the market, prices act as allocation mechanisms, encouraging or inhibiting production and encouraging or inhibiting consumption.
  • Businesses create demand curves to capture consumer behavior and supply curves to capture producer behavior.
  • The resulting equilibrium price “allocates” the limited good.
You will be able to:
  • Describe the behavior of consumers as seen in the demand curve and the behavior of producers in the supply curve.
  • Define equilibrium and explain the effect of taxes and price restrictions on market equilibrium.
  • Explain the elasticity of demand.
  • Describe cost theory and how companies optimize given their cost constraints and the externally given price.
The skills you will acquire
  • Category: Statistical hypothesis
  • Category: Statistical Analysis
  • Category: Statistical hypothesis testing

Society-level economics: markets and allocations

Course 2 • 18 hours • 4.8 (1,055 ratings)

Course Details
What will you learn?
  • In the market, prices act as allocation mechanisms, encouraging or inhibiting production and consumption to find equilibrium.
  • In this course, you will learn to construct demand curves to capture consumer behavior and supply curves to capture producer behavior.
  • The resulting equilibrium price “allocates” the limited good.
  • The course deals with the ways in which markets are subject to government intervention and the effects of these interventions.
You will be able to:
  • Explain how different market structures lead to different resource allocations.
  • To model the impact of external shocks on a particular market structure and demonstrate the new equilibrium price and quantity after the impact of the external shock.
  • Evaluate the effectiveness of balancing.
  • Explain when and why a government might intervene with regulatory authority or antitrust lawsuits to reduce inefficiencies in certain markets.
  • Describe how information problems can lead to inefficient outcomes.
  • Understand externalities and consider the optimal government response to these market failures.
The skills you will acquire
  • Category: External phenomenon
  • Category: Economy
  • Category: Game Theory
  • Category: Market (Economy)

Discovering and creating data for business decisions

Course 3 • 23 hours • 4.8 (1,006 ratings)

Course Details
What will you learn?
  • This course provides an analytical framework to help you evaluate key issues in a structured manner.
  • Will equip you with tools to better manage the uncertainty that complicates and complicates business processes.
  • You will learn how to summarize data and study concepts of frequency, normal distribution, statistical studies, sampling, and confidence intervals.
  • The course will focus not only on explaining the terms, but also on understanding and interpreting the results obtained.
You will be able to:
  • Summarize large data sets in graphical, tabular, and numerical form.
  • Understand the significance of proper sampling and why sampled information can be relied upon.
  • Understand why a normal distribution can be used in a wide variety of environments.
  • Use sample information to draw conclusions about the population with some level of confidence in the accuracy of the estimates.
  • Use Excel for statistical analysis.
The skills you will acquire
  • Category: Economy
  • Category: Consumer Behavior
  • Category: Supply and Demand
  • Category: Cost

Hypothetical and predictive statistics for businesses

Course 4 • 19 hours • 4.8 (855 ratings)

Course Details
What will you learn?
  • This course provides an analytical framework to help you evaluate key issues in a structured manner.
  • The course aims to cover statistical ideas that are intended for managers.
  • The focus will be on understanding the meaning of the results in the context of business and management.
You will be able to:
  • To test beliefs about a population.
  • Compare differences between populations.
  • Use a linear regression model for predictions.
  • Use Excel for statistical analysis.
The skills you will acquire
  • Category: Economy
  • Category: Consumer Behavior
  • Category: Supply and Demand
  • Category: Cost

Banks and financial institutions

Course 5 • 15 hours • 4.7 (178 ratings)

Course Details
What will you learn?
  • The aim of the course is to provide you with a basic understanding of the relationships between money, the financial system and the broader macroeconomics.
  • We will examine the economics of modern financial institutions (e.g., banks).
  • We will develop a conceptual framework that will allow us to assess how recent financial regulations as well as financial innovation may impact the macroeconomic, financial, and business environment.

Central banks and monetary policy

Course 6 • 16 hours • 4.6 (69 ratings)

Course Details
What will you learn?
  • The aim of the course is to provide you with an understanding of central bank policies and how such policies affect financial markets and the economy.
  • The main goal of the course is to provide you with insights into the macroeconomic relationships between interest rates, inflation, and unemployment.
The skills you will acquire
  • Category: Data Analysis
  • Category: Microsoft Excel
  • Category: Statistical Analysis
  • Category: Normal distribution