Managerial Economics (E)
level of course unit
1. Study cycle, Bachelor
Learning outcomes of course unit
Students are able to
• name the essential components of a market model and discuss the market equilibrium as an interaction of supply and demand.
• identify the determinants of consumer demand and explain how they respond to external factors such as changes in income.
• explain both the potentials and the limitations of market models based on real-world markets, for example the housing or labor market, and to buttress abstract models with real-life examples.
• 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.
prerequisites and co-requisites
• Economic thinking and marginal analysis
• Efficient allocation of scarce resources
• Market model and market equilibrium
• Elasticity and pricing
• Cost functions and optimal company production
• Welfare analysis in case of state intervention
recommended or required reading
• 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)
assessment methods and criteria
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eLearning quota in percent
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