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.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorYuji Tamura

Available to Study Abroad/Exchange StudentsYes

Subject year levelYear Level 2 - UG

Available as ElectiveNo

Learning ActivitiesExamples in lectures and tutorials

Capstone subjectNo

Subject particulars

Subject rules

PrerequisitesBUS1BUE OR ECO1PPA OR ECO1DSM

Co-requisitesN/A

Incompatible subjectsECO3IND

Equivalent subjectsN/A

Quota Management StrategyN/A

Quota-conditions or rulesN/A

Special conditionsN/A

Minimum credit point requirementN/A

Assumed knowledgeN/A

Readings

Managerial Economics: A Strategic Approach

Resource TypeRecommended

Resource RequirementN/A

AuthorFisher, T.C.G., Prentice, D., Waschik, R.

Year2010

Edition/Volume2e

PublisherROUTLEDGE

ISBNN/A

Chapter/article titleN/A

Chapter/issueN/A

URLN/A

Other descriptionN/A

Source locationN/A

Microeconomics for Managers

Resource TypeRecommended

Resource RequirementN/A

AuthorD. M. Kreps

Year2004

Edition/VolumeN/A

PublisherW. W. NORTON

ISBNN/A

Chapter/article titleN/A

Chapter/issueN/A

URLN/A

Other descriptionN/A

Source locationN/A

Career Ready

Career-focusedNo

Work-based learningNo

Self sourced or Uni sourcedN/A

Entire subject or partial subjectN/A

Total hours/days requiredN/A

Location of WBL activity (region)N/A

WBL addtional requirementsN/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 options

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