MG431      Half Unit
Managerial Economics

This information is for the 2018/19 session.

Teacher responsible

Prof Ignacio Palacios-Huerta

Availability

This course is available on the Global MSc in Management, Global MSc in Management (CEMS MiM) and Global MSc in Management (MBA Exchange). This course is not available as an outside option.

Course content

A graduate-level introduction to the foundations of managerial economics. Topics include:

1. Economics as a theory of organisation.

2. Economic Agents: Rationality and the co-ordination powers of the market (Demand and supply and equilibrium: the determinants of consumers' and firms' market responses and the nature of non-strategic interaction).

3. Strategic interaction and dynamic competition.

4. Information and efficiency.

Teaching

20 hours of lectures and 15 hours of seminars in the MT. 2 hours of lectures in the ST.

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

Formative coursework

A problem set will be assigned and is due two weeks later. It will be marked for feedback purposes only.

Indicative reading

Main textbooks:

T van Zandt; Firms, Price and Markets, available online (2006); S. Estrin et al, Microeconomics, Prentice Hall (2008).

Students can also consider: D M Kreps, Microeconomics for Managers, W. W. Norton (2004)B. Douglas Bernheim and Michael D. Whiston, Microeconomics, McGraw Hill (2008).

Reading lists will be provided at the beginning of the course.

Assessment

Exam (100%, duration: 2 hours) in the summer exam period.

Key facts

Department: Management

Total students 2017/18: 77

Average class size 2017/18: 15

Controlled access 2017/18: Yes

Value: Half Unit

Guidelines for interpreting course guide information

Personal development skills

  • Self-management
  • Team working
  • Problem solving
  • Commercial awareness
  • Specialist skills

Course survey results

(2014/15 - 2016/17 combined)

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

The scores below are average responses.

Response rate: 75%

Question

Average
response

Reading list (Q2.1)

2.4

Materials (Q2.3)

2

Course satisfied (Q2.4)

1.8

Integration (Q2.6)

1.8

Contact (Q2.7)

1.8

Feedback (Q2.8)

2

Recommend (Q2.9)

Yes

72%

Maybe

26%

No

2%