Managerial Economics

General information

Type:	OB	Curs:	1	Period:	S semester
ECTS Credits:	3 ECTS

Teaching Staff:

Group	Teacher	Department	Language
	Ioana Schiopu	Economía, Finanzas y Contabilidad	ENG

Prerequisites

This course goes beyond the standard (undergraduate) introductory Economics class. Therefore previous exposure to Microeconomics Principles, Statistics, basic Algebra and Calculus is helpful.

Course Learning Objectives

The aim of the course is to equip students with some basic economic theory and methods that are relevant to the study of business decision-making. Consequently, the course will provide the theoretical grounding for understanding the behavior of consumers and firms, and their interactions in the market. The course will also introduce students to basic modelling and quantitative techniques that are useful to researchers in management sciences.

Competences

22. Ability to work in multidisciplinary and multicultural teams
18. Decision-making skills
19. Be able to adequately inform about results, both orally and in writing
6. Ability to reason analytically and reflectively
16. Information management skills
5. Become very familiar with a specific area of organisational management
11. Skillful in the use of quantitative methods
7. Ability to synthesise and generalise information

22. Ability to work in multidisciplinary and multicultural teams

18. Decision-making skills

19. Be able to adequately inform about results, both orally and in writing

6. Ability to reason analytically and reflectively

16. Information management skills

5. Become very familiar with a specific area of organisational management

11. Skillful in the use of quantitative methods

7. Ability to synthesise and generalise information

Relation between Activities and Competences

	22	18	19	6	16	5	11	7
Final exam
Assignment
Paper presentation
Attendance and participation

CONTENT

1. The Fundamentals of Managerial Economics a. The economic framework: markets, institutions and incentives b. Methods and tools in economic analysis c. Review of some basic economic concepts
2. Quantitative Demand Analysis
3. Production and Cost Analysis
4. Market Structures
5. Managing with Market Power
6. Game Theory
7. Strategic Interactions Between Firms
8. The Role of Information
9. Strategic Interaction within Firms
10. Advanced Topics in Managerial Economics

1. The Fundamentals of Managerial Economics

a. The economic framework: markets, institutions and incentives
b. Methods and tools in economic analysis
c. Review of some basic economic concepts

2. Quantitative Demand Analysis

3. Production and Cost Analysis

4. Market Structures

5. Managing with Market Power

6. Game Theory

7. Strategic Interactions Between Firms

8. The Role of Information

9. Strategic Interaction within Firms

10. Advanced Topics in Managerial Economics

Relation between Activities and Contents

	1	2	3	4	5	6	7	8	9	10
Final exam
Assignment
Paper presentation
Attendance and participation

Methodology

ASSESSMENT

ASSESSMENT BREAKDOWN

Description	%
Final exam	50
Assignment	20
Paper presentation	20
Attendance and participation	10

Assessment criteria

Attendance and participation (10%),assignment (20%), paper presentation (20%), closed book exam (50%).

There is one retake exam allowed that the student can use if she misses the final or wants to improve her grade in the final exam. The weight of the retake in the total grade is the one stated in the syllabus (50%).

Bibliography

There is no required textbook for this class. However, the course will draw on the following sources (occasionally supplemented by research papers):

Thomas, Christopher R. & S. Charles Maurice, Managerial Economics - Foundations of Business Analysis and Strategy, 10th edition, McGraw-Hill (2011)

Gujarati, Damodar. Econometrics by Example, Palgrave Macmillan (2011)

Managerial Economics (CMR60103)