MG207     
Managerial Economics

This information is for the 2016/17 session.

Teacher responsible

Dr Catherine Thomas NAB 5.27

Availability

This course is compulsory on the BSc in Management. This course is available on the BSc in Business Mathematics and Statistics. This course is available as an outside option to students on other programmes where regulations permit. This course is available with permission to General Course students.

Pre-requisites

Economics A (EC100) or Economics B (EC102) or equivalent is a pre-requisite. This course cannot be combined with Microeconomic Principles I (EC201) or Microeconomic Principles II (EC202).

Course content

The objective of the course is to provide students with insights from economic theory which are relevant to applications in managerial decision making. The emphasis is on applying microeconomics ideas to solve problems. Topics covered include consumer theory, production, applications to the labour market, market structure, monopoly, oligopoly, product differentiation, pricing, game theory, decision analysis, bargaining, auctions, and asymmetric information.

Teaching

20 hours of lectures and 8 hours of classes in the MT. 20 hours of lectures and 10 hours of classes in the LT. 1 hour of classes in the ST.

Students on this course will have a reading week in Week 6, in line with departmental policy.

Formative coursework

Students are expected to prepare answers to set problems on a weekly basis. Some of this work will be assessed. Assiduous preparation for the weekly tutorials is essential to achieve a good exam performance.

Indicative reading

No textbook covers the whole course but Saul Estrin, Daid Laidler and Michael Dietrich, Microeconomics (6th editon) or Hal R Varian, Intermediate Microeconomics (latest edition) are both good reference books for the course. In addition students are advised to refer to T C Bergstrom & H R Varian, Workouts in Intermediate Microeconomics (1990), P Milgrom & J Roberts, Economics, Organisation and Management (1992) and J Tirole, The Theory of Industrial Organisation (1990).

Assessment

Exam (100%, duration: 3 hours) in the main exam period.

Key facts

Department: Management

Total students 2015/16: 156

Average class size 2015/16: 16

Capped 2015/16: No

Lecture capture used 2015/16: Yes (MT & LT)

Value: One Unit

Guidelines for interpreting course guide information

PDAM skills

  • Problem solving
  • Application of numeracy skills
  • Commercial awareness
  • Specialist skills

Course survey results

(2013/14 - 2015/16 combined)

1 = "best" score, 5 = "worst" score

The scores below are average responses.

Response rate: 100%

Question

Average
response

Reading list (Q2.1)

3

Materials (Q2.3)

2.7

Course satisfied (Q2.4)

2.5

Lectures (Q2.5)

3.1

Integration (Q2.6)

2.7

Contact (Q2.7)

2.4

Feedback (Q2.8)

2.6

Recommend (Q2.9)

Yes

39%

Maybe

47%

No

14%