Managerial Economics I
The course covers the following topics:
- The decision-making process, private and public decisions
- Optimal decisions using marginal analysis
- Demand analysis and optimal pricing
- Cost analysis
- Perfect competition
- Game theory and competitive strategy
- Regulation, public goods and benefit-cost analysis
- Decision making under uncertainty
- Asymmetric information and organizational design
The main textbook is:
William F. Samuelson, Stephen G. Marks, Jay L. Zagorsky. Managerial Economics (9th ed.), 2021. ISBN: 978-1-119-55491-2.
Students have to cover Chapters 1-3, 5-11, 13 and 15.
Supporting slides include the structure and the basic concepts of each lecture and should guide the study. These are available on the course website (iCorsi3 platform), together with some numerical exercises and solutions.
- To provide essential microeconomic tools for the analysis of firms’ strategic behaviour in an uncertain economic environment
- To apply microeconomic theory and methodology to problems faced by decision makers in the private, public and not-for-profit sector
- To understand the economic implications of different market structures, customers behaviour, and market regulation
- To master with economic tools that assist managers in efficiency allocating scarce resources, planning corporate strategy, and executing effective tactics
The course is made of lectures and tutorials on numerical exercises. Lectures are based on the main textbook. Students are expected to go through the relevant readings before coming to class and are advised to use the textbook. Lecture notes and slides provide important support for revising concepts. Some exercises are discussed during classes (tutorial sessions) and students can test themselves by answering numerical questions available on the course website.
The course has a final (written) exam lasting 1h 30'. The exam paper is made of multiple-choice questions and numerical exercises.