Managerial Economics

2024/2025

Academic Year

ENG

Instruction in English

3

ECTS credits

Delivered at:

Department of Economic Theory and Econometrics (Faculty of Economics)

Course type:

Compulsory course

When:

1 year, 1 module

Instructors

Krekhovets, Ekaterina

Storchevoy, Maxim

Course Syllabus

Abstract

The purpose of the course is to teach the students how to apply the principles and models of economic theory for making managerial decisions. The course covers such topics as estimating and analysing demand, cost analysis, smart pricing (price discrimination, tying, bundling, non-linear pricing), competing in various market structures, making decisions about product quality and differentiation.

Learning Objectives

• The purpose of the course is to teach the students how to apply the principles and models of economic theory for making managerial decisions: 1) estimating and analyzing demand, 2) cost analysis, 3) smart pricing (price discrimination, tying, bundling, non-linear pricing), 3) competing in various market structures, 4) making decisions about product quality and differentiation.

Expected Learning Outcomes

• Able to define different types of costs. Can calculate different types of costs. Able to use different methods of cost estimation.Understand and can use different methods of cost allocations.Understand the idea of budgeting. Able to define different methods of budgeting.
• Understand different types of market structure. Are able to define and explain different types of market structure. Understand firm behaviour on perfect competition market. Able to explain different models of oligopoly
• Understand principles of demand and supple model. Able to estimate and analyze demand. Understand algebra of profit maximization, can calculate maximum of profit for different types of demand functions. Understand types and strategies of price discrimination.
• Understand theory and principales of perfect price discrimination. Able to define different types of auctions. Understand and can explain different types of smart pricing models.

Course Contents

• Demand, Supply and Market Power
• Perfect Price Discrimination, Auctions and Smart Pricing
• Costs
• Market structure

Assessment Elements

• Quize1
• Quize2
• Quize3
• Test

Interim Assessment

• 2024/2025 1st module
  0.2 * Quize1 + 0.2 * Quize2 + 0.2 * Quize3 + 0.4 * Test

Bibliography

Recommended Core Bibliography

• Chattopadhyay, S., & Chatterjee, R. (2020). Understanding Auctions. Abingdon, Oxon: Routledge. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=2183802
• Kolmar, M., & Hoffmann, M. (2018). Workbook for Principles of Microeconomics. Springer.

Recommended Additional Bibliography

• Haeringer, G. (2018). Market Design: Auctions and Matching. The MIT Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.mtp.titles.0262037548

Authors

• KREKHOVETS EKATERINA VLADIMIROVNA