GRA 8066 Managerial Economics (2021/2022)
GRA 8066 Managerial Economics (2021/2022)
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.
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.
- Demand, supply and the market
- The theory of the firm
- Costs and supply
- Perfect competition and monopoly
- Market structure
- Game theory and interdependent decisions
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.
In all BI Executive courses and programmes, there is a mutual requirement
for the student and the course responsible regarding the involvement of the student's experience in the planning and implementation of courses, modules and programmes. This means that the student has the right and duty to get involved with their own knowledge and practice relevance, through the active sharing of their relevant experience and knowledge.
Granted admission to the EMBA programme. Please consult our student regulations.
Covid-19
Due to the Covid-19 pandemic, there may be deviations in teaching and learning activities as well as exams, compared with what is described in this course description.
| Assessments |
|---|
Exam category: Submission Form of assessment: Written submission Weight: 40 Grouping: Group (2 - 8) Duration: 1 Semester(s) Comment: Group hand-in, accounts for 40% Exam code: GRA 80661 Grading scale: Point scale leading to ECTS letter grade Resit: All components must, as a main rule, be retaken during next scheduled course |
Exam category: Submission Form of assessment: Written submission Weight: 60 Grouping: Individual Duration: 1 Semester(s) Comment: Individual hand-in, account for 60% Exam code: GRA 80661 Grading scale: Point scale leading to ECTS letter grade Resit: All components must, as a main rule, be retaken during next scheduled course |
| Activity | Duration | Comment |
|---|---|---|
Prepare for teaching | 35 Hour(s) | Textbook reading |
Teaching | 30 Hour(s) | Lectures |
Student's own work with learning resources | 23 Hour(s) | Lecture notes 15 h , Overview videos 2 h, Detailed videos 4 h, Self-tests 1 h, Kahoots 1 h |
Examination | 25 Hour(s) | Group hand-in 10 h, Individual hand-in 15 h |
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.