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
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" scoreThe scores below are average responses.
Response rate: 100%
Question |
Average | ||||||
---|---|---|---|---|---|---|---|
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) |
|