MANAGERIAL ECONOMICS

ECO2MEC

Not currently offered

Credit points: 15

Subject outline

Students will be introduced to a range of microeconomic theory relevant to the management of an enterprise, including theories relating to demand, production, the nature of competition, and pricing across different firms as well as within a firm. In particular, students will learn how economic theory may help a manager discover the solution to practical problems.

School: La Trobe Business School (Pre 2022)

Credit points: 15

Subject Co-ordinator: Yuji Tamura

Available to Study Abroad/Exchange Students: Yes

Subject year level: Year Level 2 - UG

Available as Elective: No

Learning Activities: Examples in lectures and tutorials

Capstone subject: No

Subject particulars

Subject rules

Prerequisites: BUS1BUE OR ECO1PPA OR ECO1DSM

Co-requisites: N/A

Incompatible subjects: ECO3IND

Equivalent subjects: N/A

Quota Management Strategy: N/A

Quota-conditions or rules: N/A

Special conditions: N/A

Minimum credit point requirement: N/A

Assumed knowledge: N/A

Learning resources

Managerial Economics: A Strategic Approach

Resource Type: Book

Resource Requirement: Recommended

Author: Fisher, T.C.G., Prentice, D., Waschik, R.

Year: 2010

Edition/Volume: 2e

Publisher: ROUTLEDGE

ISBN: N/A

Chapter/article title: N/A

Chapter/issue: N/A

URL: N/A

Other description: N/A

Source location: N/A

Microeconomics for Managers

Resource Type: Book

Resource Requirement: Recommended

Author: D. M. Kreps

Year: 2004

Edition/Volume: N/A

Publisher: W. W. NORTON

ISBN: N/A

Chapter/article title: N/A

Chapter/issue: N/A

URL: N/A

Other description: N/A

Source location: N/A

Career Ready

Career-focused: No

Work-based learning: No

Self sourced or Uni sourced: N/A

Entire subject or partial subject: N/A

Total hours/days required: N/A

Location of WBL activity (region): N/A

WBL addtional requirements: N/A

Graduate capabilities & intended learning outcomes

Graduate Capabilities

INQUIRY AND ANALYSIS - Creativity and Innovation
INQUIRY AND ANALYSIS - Critical Thinking and Problem Solving

Intended Learning Outcomes

01. Compare and contrast producers pricing and production decisions that are appropriate for different market environments.
02. Differentiate between different methods of price discrimination, and use an appropriate one according to demand and cost information.
03. Apply basic game theory to market environments where strategic interactions take place.
04. Diagrammatically and numerically demonstrate the main economic models of oligopoly and use them to calculate profit maximizing prices and production levels.
05. Use the main economic model of differentiated products to calculate profit-maximizing prices and explain the consequences of location/quality choice for prices and profits.
06. Apply economic models of horizontal and vertical integration and use them to calculate transfer prices.
Subject not currently offered - Subject options not available.