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Learning Objectives
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The learning objectives to achieve for this course are (bullit 1-3):
More specifically, in the end of this course, the students should be able to (bullit 4-9):
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Demonstrate knowledge within managerial economics with emphasis on the curriculum and workshops presented and an understanding for managerial decision making
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Identify situations where managerial decisions are to be made, analyze conditions and assumptions and use this information together with models, concepts and theories to set up logical and rational managerial economic decision models
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Expand the students understanding for the use of the managerial economic terminology within the company’s different functional areas and decision making processes
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Starting from oligopolistic market forms, set up assumptions for optimizing under different market forms, decision situations and restrictions and use this knowledge to set up relevant optimizing scenarios and models
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Set up and apply multiple pricing models and a pricing strategy starting from different market forms
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Understand and apply the pricing models of static, value based and dynamic pricing in different product, demand and supply situation
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Account for the conditions for game theory and analyse different types of decisions using a game theory point of view to support decision making
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Account for the fundamental elements of risk in a decision situation and set up different risk analysis to support decision
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Understand investment and finance theory and apply these models in cases implying decision making
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Prerequisite
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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
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Examination
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Managerial Economics II:
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Assessment
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Written Exam
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Marking Scale
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7-step scale
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Censorship
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External examiners
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Exam Period
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Spring Term, Exam period for the credit class is Winter Term
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Aids
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Please, see the detailed regulations below
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Duration
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4 Hours
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• The written exam takes place on CBS computers
• Graphs can be written by hand
• Aids: Open book, but please note:
• Students have access to their personal files (S-drive on CBS network)
• Students do NOT have access to Internet, Site Scape/ LEARN, and other services from CBS (except their personal S-drive on CBS network)
• Students are not allowed to bring personal electronic devices to the exam, except a non-programmable calculator.
• Re-take examinations and make-up examinations are subject to the same regulations as the ones noted above |
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Course Content
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The course is planned to present models for decisions making with a focus on the service industry. The focus is on game theory, risk management, pricing, price discrimination, auctioning, selected managerial decision taking, investment and finance theory and business cases related to the curriculum.
10 x Lecturing (L1-L7)
The course consists of 7 lectures (L1-L7) 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 Work-shops (W1- W4)
Each Work-Shop is 3 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. |
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Teaching Methods
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Lectures & workshops
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Student Workload
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Classes
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30
hours
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Workshop/ Excercises
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12
hours
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Preparation for class
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163
hours
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Home assignments
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16
hours
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Examination
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4
hours
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Further Information
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All groups have to answer and hand in all 3 workshop-papers, approx. 5 pages (max 7 pages). Each student has to present individually at least once during the course (on behalf of his/her group) an ideal part of the workshop (approx. 45 minutes in total per group, including a class discussion). The presentation is to be approved by the lecturer on an individual level. The studying and preparation efforts for presentations are supposed to last in average15-20 hours per workshop. |
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Literature
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(ME): Dominick Salvatore: Managerial Economics in A Global Economy, 6. edition, Oxford University Press, 2007.
(SIF): Michael Hedegaard and Ove Hedegaard: “Strategic Investment and Finance”, First Edition, DJØF Publishing Copenhagen, 2008 Please note, minor changes may occur. The teacher will uploade the final reading list to sitescape/learn two weeks before the course starts. |
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