Economics: Foundations of Managerial Economics
- make the students familiar with economic analysis for business decisions
- introduce the fundamental concepts and tools of economic theory necessary for understanding the basic driving forces and effects in economy - how the environment works
- prepare to make well-founded economic decisions, such as to optimally allocate scarce resources at your disposal in order to maximize the resources you generate – to make best of what you have within the environment
- prepare for more advanced courses in international business
- know fundamental concepts and tools of economic theory
- know the economic theory of the firm
- know main types of markets and their specifics
- improve skills of data search, analysis and its representation in terms of economics
- Introduction: Terms, Assumptions, Managerial Economics and Economic Theory, basics of Finance.
- The Basics of Markets Demand Theory. Elasticity, Complements and Substitutes.
- Consumer Behavior and Rational Choice.
- Production and Cost. Theory of the Firm
- The Analysis of Costs.
- Market Structures: Perfect Competition
- Market Structures: Monopoly and Monopolistic Competition.
- Sophisticated Market Pricing. The Managerial Use of Price Discrimination. Bundling and Intra-firm Pricing.
- Oligopoly. Strategic interactions
- Risk and Innovations Uncertainty and Innovator's dilemma.
- Interim assessment (1 module)0.25 * Assignments + 0.1 * Class participation + 0.4 * Exam + 0.25 * Quizzes
- Managerial Economics : A Problem-Solving Approach, Wilkinson, Nick. Cambridge University Press, 2005. ProQuest Ebook Central,
- Pindyck, R. S., & Rubinfeld, D. L. (2015). Microeconomics, Global Edition (Vol. Global edition, Eighth edition). Boston: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1419566
- Waschik, Robert, et al. Managerial Economics : A Strategic Approach, Routledge, 2010. ProQuest Ebook Central,
- Webster, Thomas J.. Managerial Economics : Tools for Analyzing Business Strategy, Lexington Books, 2014. ProQuest Ebook Central,