Daniel Gottlieb

This course is compulsory on the MSc in Management (1 Year Programme). This course is not available as an outside option.

This course is a graduate-level introduction to managerial economics with a focus on its applicability to business decisions. Students will develop a rigorous way of thinking about managerial problems, issues and decisions that managers face, as well as enabling a better understanding of the external business environment in which an organisation operates.  The emphasis is on widely-used theoretical principles. Topics include an in-depth understanding of the geometric structure of the supply & demand model and its applications, the interaction of government and markets, efficiency analysis, international trade, game theory, monopoly and oligopoly strategy, price discrimination, dynamic competition, strategic moves, and information economics.

This course develops tools that are the foundation of courses in Marketing, Business Strategy, and Finance, which students will take in core courses throughout the rest of the year.

20 hours of seminars and 9 hours of classes in the MT.

Students will be expected to produce 5 problem sets in the MT.

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

D M Kreps, Microeconomics for Managers, W. W. Norton (2004); B. Douglas Bernheim and Michael D. Whiston, Microeconomics, McGraw Hill (2008).

Exam (85%, duration: 3 hours) in the summer exam period.
Class participation (15%) in the MT.