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Managerial Economics (BUSA90193)

Graduate courseworkPoints: 12.5On Campus (Parkville)

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Overview

Year of offer2019
Subject levelGraduate coursework
Subject codeBUSA90193
Campus
Parkville
Availability(Quotas apply)
January
April
July
September
FeesSubject EFTSL, Level, Discipline & Census Date

Managerial economics is designed to provide you with the tools of economic reasoning for developing and evaluating strategic business options and to make better choices. To this end we discuss and develop the fundamental economic concepts and analytical skills required in managerial and strategic decision-making. Applications lie in bargaining, price setting, the analysis of different market environments, and the analysis of situations with asymmetric information. Many subjects—and in particular business strategy, finance, marketing, and negotiations—build upon the material learned in Managerial Economics. To benefit from these synergies you are encouraged to take Managerial Economics early in your program.

Intended learning outcomes

On completion of this subject, students should be able to:

  • Possess fundamental economic analytical skills required in managerial decision making and apply them in solving business problems
  • Correctly identify and evaluate different cost categories as drivers for managerial decision-making
  • Accurately predict firm behaviours and market outcomes for different market environments such as those characterized by bargaining between agents, oligopoly structures, and commodity markets
  • Be able to apply fundamental insights from game theory to business situations
  • Effectively design strategies involving product differentiation and price customization for segmented consumer markets
  • Predict market dynamics in competitive markets and in markets with entry barriers

Last updated: 3 April 2019