GRA 8066 Managerial Economics (2020/2021)

GRA 8066 Managerial Economics (2020/2021)

Course code: 
GRA 8066
Department: 
Economics
Credits: 
4
Course coordinator: 
Erling Røed-Larsen
Product category: 
Executive
Portfolio: 
EMBA Business Administration - Core Courses
Semester: 
2020 Spring
Active status: 
Active
Teaching language: 
English
Course type: 
Two semesters
Introduction

Economics is the study of allocation of scarce resources, and how economies use markets, prices, and coordination mechanisms to do so. In this course, we emphasize market theory, a study of monopoly and oligopoly, and the implementation of strategies.

Learning outcomes - Knowledge

The purpose of this course is to study the behaviour of rational economic agents in order to understand how their interaction – under various market arrangements – determine the price – and output constellations we observe in “the real world”. Particular emphasis will be placed on the strategic considerations of profit maximizing business firms – for instance in regard to their decisions concerning advertising, product differentiation, vertical integration and entry/exit in an industry.
Most business decisions will benefit from being evaluated with a firm grasp of the equilibrium response in the market. The ambition of this course is to develop in the students an intuitive and also analytical feeling for the workings of the market mechanism.In the last 20 years attention has been directed more and more towards a business managers strategic decisions, by which we mean decisions in situations where there are interactions between rational economic actors; actors which may all be smart , clever, energetic and well informed.What is called game theory offers a scientific approach to strategic decision-making of this kind, and game theory will accordingly play a role in this course as a theoretical model to approach the solutions of real-world problems.

Course content
  • Demand, supply and the market
  • The theory of the firm
  • Costs and supply
  • Perfect competition and monopoly
  • Market structure
  • Game theory and interdependent decisions
Teaching and learning activities

1 ECTS credit corresponds to a workload of 26-30 hours. 

Chapters 2, 3,5, 6, 7, 8, 9 and 10 in the textbook are essential to the course. In addition will the understanding of the basic priciples be enhanced by working through some selected cases. The teaching methods will be class-based lectures, with inputs from the students based on their prepared readings of the textbook. 

Attendance to all sessions in the course is compulsory. If you have to miss part(s) of the course you must ask in advance for leave of absence. More than 25% absence in a course will require retaking the entire course. It's the student's own responsibility to obtain any information provided in class that is not included on the course homepage/ It's learning or other course materials.

The students will have approximately eight weeks to submit the hand-ins after the module. Exact dates for submission will be given on the module.

This is a course with continuous assessment (several exam components) and one final exam code. Each exam component will be graded using points on a scale 0 -100. The components will be weighted together according to the information in the course description in order to calculate the final letter grade for the course. Students who fail to participate in one/some/all exam components will get a lower grade or may fail the course. Candidates may be called in for an oral hearing as a verification/control of written assignments.

Specific information regarding the points system and the mapping scale beyond the information given in the course description will be provided in class. This information may be relevant for requirements for term papers or other hand-ins, and/or where class participation can be one of several elements of the overall evaluation.

The course is a part of a full Executive MBA programme and examination in all courses must be passed in order to obtain a certificate.

Software tools
No specified computer-based tools are required.
Qualifications

Granted admission to the EMBA programme. Please consult our student regulations.

Exam categoryWeightInvigilationDurationGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
GRA 80661
Grading scale:
Point scale
Grading rules:
Internal examiner with external supervisor
Resit:
All components must, as a main rule, be retaken during next scheduled course
40No1 Semester(s)Group (2 - 8)Group hand-in, accounts for 40%
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
GRA 80661
Grading scale:
Point scale
Grading rules:
Internal examiner with external supervisor
Resit:
All components must, as a main rule, be retaken during next scheduled course
60No1 Semester(s)Individual Individual hand-in, account for 60%
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:40
Invigilation:No
Grouping (size):Group (2-8)
Duration:1 Semester(s)
Comment:Group hand-in, accounts for 40%
Exam code:GRA 80661
Grading scale:Point scale
Resit:All components must, as a main rule, be retaken during next scheduled course
Exam category:Submission
Form of assessment:Written submission
Weight:60
Invigilation:No
Grouping (size):Individual
Duration:1 Semester(s)
Comment:Individual hand-in, account for 60%
Exam code:GRA 80661
Grading scale:Point scale
Resit:All components must, as a main rule, be retaken during next scheduled course
Type of Assessment: 
Continuous assessment
Grading scale: 
ECTS
Total weight: 
100
Student workload
ActivityDurationComment
Teaching on Campus
32 Hour(s)
Prepare for teaching
28 Hour(s)
Student's own work with learning resources
50 Hour(s)
Self study, feedback activities/counselling and exam
Sum workload: 
110

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 4 ECTS credit corresponds to a workload of at least 110 hours.