"Managerial Economics" provides an introduction to the theories and methods from Economics and Management Science to analyze economic decision-making in the context of markets. The course targets students with no prior knowledge in Economics and Management.
Objective
The objective of this course is to provide an introduction to microeconomic thinking. Based on the fundamental principles of economic analysis (optimization and equilibrium), the focus lies on understanding key economic concepts relevant for understanding and analyzing economic behavior of firms and consumers in the context of markets. Market demand and supply are derived from the individual decision-making of economic agents and market outcomes under different assumptions about the market structure and market power (perfect competition, monopoly, oligopoly, game theory) are studied. This introductory course aims at providing essential knowledge from the fields of Economics and Management relevant for economic decision-making in the context of both the private and public sector.
Literature
Microeconomics by Robert Pindyck & Daniel Rubinfeld, 9th edition 2018, The Pearson series in economics.
Prerequisites / Notice
The course targets both Bachelor and Master students. No prior knowledge in the areas of Economics and Management is required.
