Managerial Economics B

Description

Managerial Economics B is an introductory microeconomics course in the Bachelor of Business Administration. The aim of this course is to give students insight into how market economies function: It will make students familiar with the characteristics of the main market types (perfect competition, monopoly, monopolistic competition and oligopoly), with pricing and production decisions in each market type, and with the desirability of government intervention in each market type. Students will also acquire some basic game theory tools. Analyses price-setting and the various pricing strategies for the most important market forms. Recognizes and describes the most important market forms: perfect competition, monopoly, monopolistic competition and oligopoly. Analyses the pricing strategies of the most important market forms: perfect competition, monopoly, monopolistic competition and oligopoly, in the short term as well as in the long term. Analyses different forms of price discrimination. Analyses the different aspects of strategic behaviour for the market form oligopoly and applies game theory to analyze them. Interprets and underpins behaviour of producers based on economic concepts and theories. Describes and interprets the behaviour of producers as a profit maximization problem. Analyses the production process of firms in an economic context. Analyses the cost structure of firms in an economic context. Describes the perspectives of economic science, uses them in a (business) economics context and reflects critically on them. Describes the different lines of approach of the economic science. Applies the different lines of approach of the economic science in a (business) economic context and interprets the resulting outcomes. The position of the course in the framework of the learning objectives of the programme can be found under the section “Objectives” of the “Bachelor of Business Administration (Brussels)”. ERS Objectives: - Can collect and assess information regarding societal challenges from an appropriate theoretical framework.(ERS worldview) - Can handle change in an economic and business context. (ERS worldview) - Gaining insight and reflecting on the interrelationship between societal challenges and (business) economics (ERS worldview)