2015/2016  BA-BPOLO1291U  Managerial Economics I

English Title

Managerial Economics I

Course information
Language	English
Course ECTS	7.5 ECTS
Type	Mandatory
Level	Bachelor
Duration	One Semester
Start time of the course	Autumn
Timetable	Course schedule will be posted at calendar.cbs.dk
Study board	Study Board for BSc/MSc i International Business and Politics, BSc
Course coordinator
Michael Hedegaard - Department of Operations Management (OM)
Main academic disciplines
Economics
Last updated on 13-08-2015

Learning objectives

To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors: Describe and justify the different models and theories in the syllabus, including the basic assumptions behind these models and theories. Describe and discuss knowledge regarding the situations where these models and theories can be used. Analyze, foresee, and discuss the relevant and non-relevant facts in relation to the definite business economic as well as practical problem formulation. Generally and specifically identify, analyze and problem-solve, using professional vocabulary, methods, theories, and models. Apply personal problem-solving methods in relation to theory and practice and reflect over personal problem-solving and results in a self-critical manner.

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 Winter Aids allowed to bring to the exam Limited aids, see the list below: Books and compendia brought by the examinee Allowed calculators Allowed dictionaries Make-up exam/re-exam Another examination form Oral individual exam (20 minuttes) in entire syllabus

Course content and structure

Spanning two semesters the collected course covers six main topics. In the first semester the topics are: The Company in Context: The objective is to analyze and evaluate the company’s surroundings, identifying the possible factors influencing the industry and its players and their managerial decisions. Production and Costs: The objective is to explain the issue of production theory, both short term and long term, and its significance when deciding relevant costs and costs calculus. Further, to set up cost calculus by using different models for cost-calculating, as well as accounting for the important assumptions in this context. Market Forms, Demand and Pricing: The objective is to analyze market forms and their impact on pricing. In addition the students are expected to set up demand and supply functions, discuss pricing and evaluate the meaning of elasticities in this context. Optimizing under Different Market Forms, Decision Situations and Restrictions: The objective is to set up conditions and assumptions regarding optimizing under different market forms, decision-making situations and restrictions. Further students’ should be able to use this background information to set up relevant optimizing scenarios and models.

Teaching methods

Lectures, workshops and exercises