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2021/2022  BA-BSOCO1830U  Managerial Economics II

English Title
Managerial Economics II

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 in Business Administration and Sociology
Course coordinator
  • Toke Reichstein - Department of Strategy and Innovation (SI)
Main academic disciplines
  • Managerial economics
  • Globalisation and international business
  • Organisation
Teaching methods
  • Face-to-face teaching
Last updated on 01-07-2021

Relevant links
Learning objectives
On successful completion of the two courses, Managerial Economics II and Business, Politics and Society, students should be able to:
  • demonstrate a strong and comprehensive knowledge of the two courses’ curriculum.
  • identify, describe, and analyze a current problem at the intersection of business, politics, and society and discuss the implications of different strategic choices within the organization as well as in relation to its environment.
  • the particular objectives of the Business, Politics and Society course are to:
  • understand basic concepts used in the fields of political economy and political sociology
  • identify, explain and critically assess the relationship between political institutions, public policy and the economy in different social and societal settings
  • identify the strengths and weaknesses of the approaches introduced in the course
  • the particular objectives of the Managerial Economics II course are to:
  • distinguish different types of structures and processes in public and private organizations in a managerial economics perspective
  • explain how different transactions are governed and optimized inside the organization and externally in the market
  • apply the methods, theories, and models introduced in the course in order to carry out analyses rooted in managerial economics
Course prerequisites
The courses 'Business, Politics and Society' and 'Managerial Economics II' have one integrated exam. You can only participate in 'Managerial Economics II' if you also register for 'Business, Politics and Society'.
Prerequisites for registering for the exam (activities during the teaching period)
Number of compulsory activities which must be approved (see section 13 of the Programme Regulations): 1
Compulsory home assignments
Number of compulsory activities which must be approved: 1 out of 2

During the semester, the student must complete a multiple-choice assignment and the score must be approved in order for the student to be able to attend the ordinary exam.
Examination
The course shares exams with
BA-BSOCO1831U
Course content, structure and pedagogical approach

Course Description:

Managerial Economics II is a course that seeks to furnish students with the ability to apply microeconomic theory to practical problems. Foremost in a business context making it pinnacle for rational managerial decision making. It aims to provide students with an understanding of how practical economic problems may be understood and managed using abstract theoretical learnings. It draws heavily on microeconomics. But to the degree it is possible, the course seeks to focus on the application of micro economics rather than dwell on its mathematical derivation of logical conclusions. The course will deal with such issues as prices, property rights, externalities, principal agent issues, contracting, and cognitive biases in decision making.  

   

This course provides an actionable framework for aspiring and already active managers and business operators, which can help them make better and the right coherent choices with regard to establishing and growing their business. It also offers insights that allow the students to understand complex associations in a given economics system and actively participate in both public and private debates using rigorous economic reasoning. 

 

Course Contents:

The objective of this course is to provide the student with an understanding of how the organizing of activities internal and external to the organization is approached within economics, based on the assumptions of bounded rationality within asymmetric and incomplete information. The course will seek to cover the most central aspects of societal challenges and apply microeconomic theory to address these challenges. It hence provides the students with a framework for thinking about these challenges in a rigorous and organized manner. It entails powerful tools of reasoning which allow the students to tackle an infinite number of aspects of decision making
Description of the teaching methods
The exam integrates the two courses, and the teaching in both courses consists of a mixture of lectures and students’ discussions.

The course will make use of well-known scenes from series or movies to illustrate points and reflections of the learned contents. It will also be using naive yet relevant and powerful data collected among the students to pinpoint the power of the course contents.

This allows the students to reflect on its contents and illustrate how relevant the contents of the course in fact is. We also employ simulation to illustrate specific points on efficiency and coordination in setting characterised by agency issues.
Feedback during the teaching period
Lectures and classes will provide extensive opportunities for questions and answers.

There is reserved 10 minutes at the end of each lecture for feedback.

The compulsory assignment(s) will also provide feedback since the students will be given the correct answers to the multiple choice.

Students are also encouraged to make use of the faculty office hours if they would like a chance to ‘test’ lines of argumentation, secure further information about course themes.

The course includes two workshops with the Business, Politics and Society course which prepares the students for the joint exam.
Student workload
Lectures 38 hours
Lecture preparation 128 hours
Essay 20 hours
Oral Exam preparation 20 hours
Further Information

For more details about the 3rd semester Business in Context exam, see guidelines on CBS CANVAS.
Expected literature

PLEASE CHECK THE UPDATED VERSION OF THE COURSE GUIDES ON CBS CANVAS BEFORE BUYING ANY BOOKS 


The following book is required reading for this course, along with articles made avaliable on CBS CANVAS:  George Hendrikse 2003 Economics and Management of Organizations, McGraw-Hill
Last updated on 01-07-2021