Managerial Economics and Decision Making

Introduction

Managerial Economics is one of the core modules for MBA program. The theoretical background of the module is microeconomics, but managerial economics is much more focused on applications of the economic principles in practice and competition in doing business. This module will use a systematic framework from viewpoint of economics to analyze the decision making in doing business and to explain that how the economic principles and its applications are related. Based on the critical concepts in microeconomics, the module will focus on competitive strategies. Towards different industries and different markets, this module will analyze that how to select a better strategy in pricing, product differentiation, and output competition etc, and to explain the critical factors to reach better performance in business decision making.

Course content

Lecture 1:  Introduction

Lecture 2:  Industry Growth and Demand Analysis

Lecture 3:  Cost Analysis

Lecture 4:  Market structure and Competition

Lecture 5:  Oligopoly Market and Strategic Games

Lecture 6:  Pricing Techniques and Analysis

Group Case Study 1:  China’s car industry

Group Case Study 2:  The (Un)importance of Fixed Costs

Group Case Study 3:  KLEENEX vs. SCOTTIES