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Managerial Economics (BUSA90193)
Graduate courseworkPoints: 12.5On Campus (Parkville)
About this subject
Contact information
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Overview
| Availability(Quotas apply) | January April July September |
|---|---|
| Fees | Look up fees |
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
- apply the understanding of different cost categories to managerial decisions such as pricing and creating competitive advantage
- Accurately predict firm behaviours and market outcomes for different market environments such as those characterized by bargaining between agents, oligopoly structures, and commodity markets
- 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: 31 January 2024