Courses Bachelor Display 2017-2018

Course Description To PDF
Course title Managerial Economics
Course code EBC2023
ECTS credits 6,5
Assessement None
Period
Period Start End Mon Tue Wed Thu Fri
4 5-2-2018 6-4-2018 X X
Level Intermediate
Coordinator Christina Rott
For more information: C.Rott@maastrichtuniversity.nl
Language of instruction English
Goals
Managerial economics applies microeconomic principles to managerial issues. Executives, consultants, investment bankers and many other practitioners make daily economic decisions that are following explicitly or implicitly economic laws. Understanding these laws is important for making good decisions concerning diverse managerial problems: devising an effective internal promotion and incentive systems, taking good risky investments at a good point in time, planning and executing take-overs, fighting speculative attacks, pricing products and many more. This course provides the analytical skills and economic insights to analyse such managerial problems without being trapped in everyday biases and truisms. It will provide skills to analyse consumer behaviour and make good product placement and pricing decisions. It will deliver the ability to examine production technologies and firm cost structure but also how a manager should deal with market (in)efficiencies and government interventions like taxes, subsidies, and regulation. It will also discuss problems when playing on securities and insurance markets and how to motivate and share risk with employees. Last but not least, this course will also provide the background for correct strategic thinking and decision-making in the uncertain world of management.
Description
The course will deal with the following issues: Why managerial economics? Consumer behaviour, production, selling, and pricing decisions. Production technologies and cost structure. Competition and collusion. The government and the firm. Management decisions in a world full of uncertainties. Risk sharing, incentive systems, and strategic interaction.
Literature
Economics of Organizations and Markets (Sander Onderstal). Pearson Benelux, 1st edition.
Prerequisites
Introductory course in microeconomics on the level of Jeffrey M. Perloff "microeconomics" or higher.
Teaching methods PBL / Lecture / Assignment
Assessment methods Participation / Written Exam
Evaluation in previous academic year For the complete evaluation of this course please click "here"
This course belongs to the following programmes / specialisations
Bachelor Economics and Business Economics Specialisation Emerging Markets Year 2 Core Courses
Bachelor Economics and Business Economics Specialisation International Business Economics Compulsory Courses
SBE Exchange Bachelor Bachelor Exchange Courses
SBE Exchange Master Bachelor Exchange Courses
SBE Non Degree Courses Bachelor Courses