Professor Erling Røed Larsen teaches microeconomics and Managerial Economics in several of BI’s master programmes. A typical student in these subjects is competent and dedicated, and concerned with the way society is structured.
Microeconomics is part of the Master of Science in Business and Economics programme (siviløkonom) where Røed Larsen teaches at the master level. Here the students can expect to gain a better understanding of economic mechanisms. Understanding such mechanisms is particularly important in a modern society. The students gain an insight into how profit-maximising companies can find pricing methods that increase their profits.
”What we give the students is quite simply a toolbox of knowledge about how a company can adapt optimally to a given market situation. There is a major difference between whether the company is a price-taker or a price-maker. In addition, we look at strategy, product differentiation, mergers and vertical integration (from production to sale), auctions and the significance of networks.”
Røed Larsen explains economics as a study of how we as a society can utilise our scarce resources to create welfare. Insight into economics will make the students better leaders and analysts, and enable them to understand our global society in a different manner.
”In our courses in economics the students acquire the ability to analyse needs and development. In this learning process the students often experience an epiphany when they realise how things are structured. These are great moments for the students – as well as for the teachers.
Classes in microeconomics often number 250 to 300 students. Erling Røed Larsen has great expectations to the classes.
”I expect the students to pay attention, work hard and read regularly. They should also be solution-oriented, take on challenging issues and seek to find a solution before they ask for help,” says Røed Larsen.
Managerial Economics
This Executive MBA course requires that the students have the ability to learn a lot in an intensive period. This is also a subject within economics, which is Røed Larsen’s field of interest. In addition to the socio-economic perspective, this course focuses on how a company can maximize profit on the basis of market premises. Strategic elements such as pricing and other competition factors are also thoroughly explored. Results from game theory are provided to this end.
”This is a relatively small class with 20 to 40 participants. It is a course with a substantial focus on group discussions where there is a significant interest in leadership and people. The students must also have a considerable capacity for work,” says Røed Larsen.
Executive MBA students often have several years of work experience, but wish to supplement their professional expertise.
The Executive master course enables the students to take another step towards executive positions with more responsibility, and through Managerial Economics they also have a better basis for understanding how economics, strategy and interaction take place both inside and outside a company.
Both Microeconomics and Managerial Economics are taught by Erling Røed Larsen at the master level. The courses are more detailed than at the bachelor level and enable the students to understand how intricate mechanisms work. These are subjects that provide a multitude of opportunities, both in Norway and internationally.
In conclusion, Røed Larsen has some advice to future students:
”Work hard, but cultivate your enthusiasm. Be inquisitive, ask questions. Read, observe and think.”
I expect the students to pay attention, work hard and read regularly. They should also be solution-oriented, take on challenging issues and seek to find a solution before they ask for help.
Erling Røed Larsen, Professor - Department of Economics
