Managerial Economics and Decision Making
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.
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
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