The course objectives are
* To learn to analyse managerial decision making from the perspective of game theory;
* To learn to model various economic situations as games;
* To learn to find equilibria of these games and reason about their properties;
* To learn that equilibria in these games are not always intuitive and that bounded rationality and psychological biases may lead people to deviate from the rational economic predictions.
* To learn to apply game-theoretic intuition to real-life problem

Managerial economics applies microeconomic principles to managerial decision making. Executives, consultants, investment bankers, and many other practitioners make daily economic decisions that explicitly or implicitly follow economic laws. Understanding these laws is important for making good decisions in diverse managerial settings: negotiating effectively; understanding and anticipating what competitors do; devising an effective internal promotion and incentive scheme; understanding the effects of uncertainty on decisions of consumers and firms; making inter-temporal strategic decisions; understanding psychological biases and behavioral aspects of consumers' and firms' decisions and many more. This course provides the analytical skills and game-theoretic models to analyze such managerial problems as well as insights on how to make strategic decisions in the uncertain world of management.
This course builds on the fundamentals of microeconomics that students have learned earlier in their studies; a working knowledge of microeconomic theory is assumed at the level of the first-year Bachelor Microeconomics course.

to be determined

Introductory course in microeconomics on the level of Jeffrey M. Perloff "microeconomics" or higher.