Economics for Managers
Niveau
2. Study cycle, Master
Learning outcomes of the courses/module
The students are able to:
• apply economic concepts and methods to business-related management issues.
• determine the revenue-maximizing pricing strategy based on demand elasticity.
• identify and evaluate techniques for the empirical estimation of demand.
• discuss the consequences of market forms such as monopoly or monopolistic competition and to develop appropriate strategies for profit maximization.
• analyze the effects of digital technologies on the supply or demand side and assess the consequences of network effects.
• apply economic concepts and methods to business-related management issues.
• determine the revenue-maximizing pricing strategy based on demand elasticity.
• identify and evaluate techniques for the empirical estimation of demand.
• discuss the consequences of market forms such as monopoly or monopolistic competition and to develop appropriate strategies for profit maximization.
• analyze the effects of digital technologies on the supply or demand side and assess the consequences of network effects.
Prerequisites for the course
none
Course content
• Market model and demand elasticity
• Economies of scale and network externalities
• Perfect competitive market, monopoly and monopolistic competition
• Pricing and profit maximization
• Digital technologies and market concentration
• Economies of scale and network externalities
• Perfect competitive market, monopoly and monopolistic competition
• Pricing and profit maximization
• Digital technologies and market concentration
Recommended specialist literature
• Farnham, Paul: Economics for Managers. Pearson (latest edition)
• Baye, Michael; Prince, Jeff: Managerial Economics & Business Strategy. Mcgraw-Hill Series Economics (latest edition)
• Allen, W. Bruce; Weigelt, Keith; Doherty, Neil A.; Mansfield, Edwin: Managerial Economics: Theory, Applications, and Cases. W. W. Norton & Company (latest edition)
• Baye, Michael; Prince, Jeff: Managerial Economics & Business Strategy. Mcgraw-Hill Series Economics (latest edition)
• Allen, W. Bruce; Weigelt, Keith; Doherty, Neil A.; Mansfield, Edwin: Managerial Economics: Theory, Applications, and Cases. W. W. Norton & Company (latest edition)
Assessment methods and criteria
Term paper, presentation, exam
Language
English
Number of ECTS credits awarded
4
Share of e-learning in %
25
Semester hours per week
2.0
Planned teaching and learning method
Blended Learning
Semester/trimester in which the course/module is offered
1
Name of lecturer
Prof. (FH) Dr. Peter Dietrich
Academic year
1
Key figure of the course/module
04.MV.MST.1.2
Type of course/module
integrated lecture
Type of course
Compulsory
Internship(s)
none