2012/2013
BA-HAS_MAEC Managerial Economics
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English Title
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Managerial Economics
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Language
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English
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Exam ECTS
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7.5
ECTS
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Type
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Mandatory
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Level
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Bachelor
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Duration
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One Quarter
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Course period
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Second Quarter
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Time Table
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Please see course schedule at e-Campus
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Study board
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Study Board for BSc in Service Management
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Course coordinator
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Eric Bentzen
Eric Bentzen
- Department of Operations Management
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Main Category of the Course
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Economics, macro economics and managerial economics
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Last updated on 03-09-2012
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Learning objectives
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Managerial Economics applies economic theory in the managerial decisionmaking process. After having followed the course the students should be able to:
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Make decisions using economic theory
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Describe and use simple microeconomic models
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Explain the relationship between managerial economics, economic theory and decision science
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Identify the main subject areas in managerial economics, and explain how they are related to each other
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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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.
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Managerial Economics I:
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Type of test
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Written Exam
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Marking scale
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7-step scale
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Second examiner
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External examiner
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Exam period
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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, 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 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 behavior. 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, market interactions.
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Teaching methods
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Lectures, workshops and exercises
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Student workload
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Classes
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42
hours
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Workshop/ Excersises
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24
hours
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Preparation for class
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139
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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Expected literature
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- ME: Dominick Salvatore: Managerial Economics in A Global Economy, 7th edition, Oxford University Press, 2011: Ch. 1-5, 7-9
- 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, 7th 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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Last updated on 03-09-2012
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