Module content

The economics module comes in three parts. The first part offers instruction on balancing benefits and costs and efficiently allocating resources across tasks and over time. Module materials offer foundational knowledge of market structure, outline ways to interpret the impact on prices of enhanced competition and industry innovation, and define rules-of-thumb for business management that expand profitability. The second part provides guidance on how to be a good competitor. Development of basic skills in analysis of industry and market structure, employment of game theory in the construction of strategy, and determination of optimal prices for the sale of goods and services are the topics of study. The third part shifts attention to appraisal of a country’s economic environment. Cases and readings provide direction on how to take inventory of the nation’s economic position, understand the impact of government actors, and forecast political and economic variables important to the firm.

Module title

Managerial Economics

Module status

Mandatory

Semester

1

ECTS

6

Number of hours:

60 [(L+E+S) = 40 + 0 + 20 ]

L= lectures; S= seminars; E= exercises;

Faculty

Module tag

09502

Literature:

Baye, Michael and Jeff Prince (2014): Managerial Economics and Business Strategy, 8th ed. McGraw-Hill/Irwin

Supplementary literature

1. Samuelson, W. F. and Marks, S. G. (2015): Managerial Economics. 8th edition. Wiley
2. Moss, D. (2007): A Concise Guide to Macroeconomics: What Managers, Executives, and Students Need to Know. Harvard Business Press.
3. Samuelson, P. and Nordhaus, W. (2009): Economics. 19th edition. McGraw-Hill/Irwin.
4. Stengel, D. (2011): Managerial Economics: Concepts and Principles. Business Expert Press