Wow! You made it to the end. But it is not over. There is one more task.

We have covered a lot of subjects. We would love to hear what your takeaway is for the following:

  • What things do you think you will use the most?
  • What did you find most interesting?
  • What did you never know before?

Looking back, here is a list of some of the concepts and skills we covered:

  • Use the rational-actor paradigm, identify problems, and then fix them.
  • Use benefit-cost analysis to evaluate decisions.
  • Use marginal analysis to make extent (how much) decisions.
  • Make profitable investments and shutdown decisions.
  • Set optimal prices and price discrimination.
  • Predict industry-level changes using demand and supply analysis.
  • Understand the long-run forces that erode profitability.
  • Develop long-run strategies to increase firm value.
  • Predict how your own actions will influence other people’s actions.
  • Bargain effectively.
  • Make decisions in uncertain environments.
  • Solve the problems caused by moral hazard and adverse selection.
  • Motivate employees to work in the firm’s best interests.
  • Motivate divisions to work in the best interests of the parent company.
  • Manage vertical relationships with upstream suppliers or downstream customers