| Learning objectives |
To be awarded the highest mark (12), the student,
with no or just a few insignificant shortcomings, must fulfill the
following learning objectives:
- The student should be able to account for selected
theories
- The student should be able to apply the correct theory on a
given issue.
- The student should be able to apply technical solution methods
when solving a given issue.
- The student should be able to illustrate the solution to a
given issue.
- The student should be able to use the correct course
vocabulary.
- The student should be able to reach a decision based on
economic rationing.
|
| Course prerequisites |
| Students not enrolled in BSc in Business
Administration & Service Management must document a level in
English equal to TOEFL 575, and A level in mathematics equal to
Danish level B |
| Examination |
|
Managerial
Economics I:
|
| Exam
ECTS |
7,5 |
| Examination form |
Written sit-in exam |
| Individual or group exam |
Individual |
| Assignment type |
Written assignment |
| Duration |
4 hours |
| Grading scale |
7-step scale |
| Examiner(s) |
Internal examiner and external examiner |
| Exam period |
Spring Term |
| Aids allowed to bring
to the exam |
Limited aids, see the list below and the exam
plan/guidelines for further information:
|
| Make-up exam/re-exam |
Same examination form as the ordinary exam
If the number of registered candidates for the make-up
examination/re-take examination warrants that it may most
appropriately be held as an oral examination, the programme office
will inform the students that the make-up examination/re-take
examination will be held as an oral examination
instead.
|
|
| Course content and structure |
|
The objective of this course is to provide the student with a
thorough understanding of microeconomics applied to the problem of
managerial decision-making. The first step in achieving this
objective is to understand how to model economic behaviour. The
student will learn how a manager chooses production inputs based on
marginal productivity, prices, and various other economic
variables. The student will learn to develop an economic model
through the use of algebra and basic calculus. The student will
gain a feel for the art of choosing assumptions to set up and solve
a meaningful problem. The second step in achieving the objective is
to build an understanding of the many economic problems. The
student will examine economic problems in consumer theory,
production, technology, cost analysis, profit analysis, and market
interactions.
10 x Lecturing (L1-L10)
The course consists of 10 lectures (L1-L10) each of 3 x 45
minutes. The lectures will explore the core areas of the theory
requiring a considerable amount of self-study. It is advisable with
4-6 hours of preparation for each lecture.
4x Active workshops (W1- W4) + 2x Economic Math workshops + 1x
Economic Excel workshop
Each workshop is 6 lectures of each 45 min. The workshops consist
of cases in theoretical and empirical problems and are part of the
curriculum. Naturally these active learning sessions will
correspond to the content and headlines of the previous lectures.
The workshops are very important for the learning process. All
students have to answer and submit online 3 workshop-papers. The
workshops can be solved individually or in groups but the online
questions must be answered individually.
|
| Teaching methods |
| Lectures, workshops and exercises |
| Student workload |
| Classes |
30 hours |
| Workshop/ Exercises |
42 hours |
| Preparation for class |
115 hours |
| Home assignments |
16 hours |
| Examination |
4 hours |
|
| Expected literature |
-
Paul Keat, Philip Young and Stephen Erfle: Managerial Economics –
Economic Tools for Today’s Decision Makers,
7
th
edition, Pearson, 2013
-
ME: Mark Hirschey & Eric Bentzen
Managerial Economics,
13th edition, Cengage,
2014.
- Micro: Pindyck/Rubinfeld: Microeconomics, 6th
edition, Pearson Education, 2003: pp: 32-185 (Ch. 2.4-5),
(Available on LEARN in pdf format)
-
Math: Ian Jacques, Mathematics
for Economics and Business, 7
th
edition, Pearson Education, 2012: Ch.
1-4. (Exercises in “MyMathLab
Global”)
Please note, minor changes may occur. The teacher
will upload the final reading list to LEARN two weeks before
the course starts.
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