Master
2023/2024
Managerial Economics
Type:
Compulsory course (Business Analytics in Economics and Management)
Area of studies:
Economics
Delivered by:
Department of Economic Theory and Econometrics
Where:
Faculty of Economics
When:
1 year, 1 module
Mode of studies:
offline
Open to:
students of one campus
Master’s programme:
Business Analytics in Economics and Management
Language:
English
ECTS credits:
3
Contact hours:
24
Course Syllabus
Abstract
The purpose of the course is to teach the students how to apply the principles and models of economic theory for making managerial decisions. The course covers such topics as estimating and analysing demand, cost analysis, smart pricing (price discrimination, tying, bundling, non-linear pricing), competing in various market structures, making decisions about product quality and differentiation.
Learning Objectives
- The purpose of the course is to teach the students how to apply the principles and models of economic theory for making managerial decisions: 1) estimating and analyzing demand, 2) cost analysis, 3) smart pricing (price discrimination, tying, bundling, non-linear pricing), 3) competing in various market structures, 4) making decisions about product quality and differentiation.
Expected Learning Outcomes
- Able to define different types of costs. Can calculate different types of costs. Able to use different methods of cost estimation.Understand and can use different methods of cost allocations.Understand the idea of budgeting. Able to define different methods of budgeting.
- Understand different types of market structure. Are able to define and explain different types of market structure. Understand firm behaviour on perfect competition market. Able to explain different models of oligopoly
- Understand principles of demand and supple model. Able to estimate and analyze demand. Understand algebra of profit maximization, can calculate maximum of profit for different types of demand functions. Understand types and strategies of price discrimination.
- Understand theory and principales of perfect price discrimination. Able to define different types of auctions. Understand and can explain different types of smart pricing models.
Course Contents
- Demand, Supply and Market Power
- Perfect Price Discrimination, Auctions and Smart Pricing
- Costs
- Market structure
Bibliography
Recommended Core Bibliography
- Chattopadhyay, S., & Chatterjee, R. (2020). Understanding Auctions. Abingdon, Oxon: Routledge. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=2183802
- Kolmar, M., & Hoffmann, M. (2018). Workbook for Principles of Microeconomics. Springer.
Recommended Additional Bibliography
- Haeringer, G. (2018). Market Design: Auctions and Matching. The MIT Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.mtp.titles.0262037548