Managerial Economics: Markets & Prices
Niveau
1. Study cycle, Bachelor
Learning outcomes of the courses/module
The students are able to:
• to discuss the impact of economic growth on social inequality and the natural environment
• explain how markets work and name determinants of price formation
• evaluate strategic interactions based on game theory models
• understand production decisions in companies and interpret the influences of market structures on price setting.
• examine and critically evaluate current developments on the basis of models.
• use the market model to e.g. analyze the impact of government intervention
• to discuss the impact of economic growth on social inequality and the natural environment
• explain how markets work and name determinants of price formation
• evaluate strategic interactions based on game theory models
• understand production decisions in companies and interpret the influences of market structures on price setting.
• examine and critically evaluate current developments on the basis of models.
• use the market model to e.g. analyze the impact of government intervention
Prerequisites for the course
none
Course content
• Economic growth, social inequality and ecological conditions
• Efficient allocation of scarce resources
• Market model and market equilibrium
• Strategic interaction and social dilemmas
• Elasticity and pricing
• Welfare analysis in case of state intervention
• Efficient allocation of scarce resources
• Market model and market equilibrium
• Strategic interaction and social dilemmas
• Elasticity and pricing
• Welfare analysis in case of state intervention
Recommended specialist literature
• The CORE Team: The Economy: Economics for a Changing World. Oxford University Press (latest edition)
• Mankiw, Greg: Economics. Cengage Learning EMEA (latest edition)
• Pindyck, Robert; Rubinfeld, Daniel: Microeconomics. Pearson (latest edition)
• Mankiw, Greg: Economics. Cengage Learning EMEA (latest edition)
• Pindyck, Robert; Rubinfeld, Daniel: Microeconomics. Pearson (latest edition)
Assessment methods and criteria
Portfolio
Language
German
Number of ECTS credits awarded
6
Semester hours per week
Planned teaching and learning method
Blended Learning
Semester/trimester in which the course/module is offered
1