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Managerial Economics (BUSA90195)

Graduate courseworkPoints: 12.5Not available in 2019

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Overview

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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 November 2022

Eligibility and requirements

Prerequisites

None

Corequisites

None

Non-allowed subjects

None

Inherent requirements (core participation requirements)

The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.

Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home

Last updated: 3 November 2022

Assessment

Additional details

Catherine de Fontenay and Onur Ozgur:

  • Weekly problem Sets (10%)
    • Throughout subject
  • Mid-term (30%)
    • 1 hour
  • Final examination (60%)
    • Hurdle requirement
    • 2.5 hours
    • End of subject

Sven:

  • Class participation and contribution to learning (10%)
    • Throughout subject
  • Quizzes (30%)
  • Final examination (60%)
    • Hurdle requirement
    • 2.5 hours
    • End of subject

Bogac Celen:

  • Weekly problem Sets (25%)
    • Throughout subject
  • Mid-term (25%)
    • 1 hour
  • Final examination (50%)
    • Hurdle requirement
    • 2.5 hours
    • End of subject

Last updated: 3 November 2022

Dates & times

Not available in 2019

Last updated: 3 November 2022

Further information

  • Texts

    Prescribed texts

    There are no specifically prescribed or recommended texts for this subject.

  • Available to Study Abroad and/or Study Exchange Students

    This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.

Last updated: 3 November 2022