AE303006 Managerial Economics

Courses from the two first years of the study program: mathematics, statistics including methods in social sciences, economics, introduction to business economics, budgeting and corporate finance .

Give an introduction to the tools and the concept of managerial economics. A key feature of the course is the depiction of the firma as a cohensivee organisation. Effective management involves an integration of the accounting, finance, marketing,personnel and production functions. This integrative approach demonstrates that important managerial decisions are interdisciplinary.

Because economic decisison making often requires an elementary understanding of optimization techniques and statistical relations, those basic concepts must be described.

* The concept of managerial economics.
* Basics of economic analysis and the theory of the firm.
* Optimization techniques,regression statistics, linear programming tools and techniques
* Demand analysis and estimation
* Business forecasting technics
* Production theory, cost theory and cost estimation
* Analysis of market structures
* Competitive markets, performance and strategy
* Imperfectly competetive and game theory
* Pricing techniques
* Long-term investment policy under uncertainty

Lectures. Problems and casestudies are used to illustrate various applications.Computer software are to be used in topics like regression analysis, forecasting and linear programming.

The learning management system Classfronter will be used in the exchange of information .

The teaching materials are in english, but the lecturer /instructor will only speek english if non-scandinavians are participants.

Students must prepare a case where computer software are to be used. The case text and solution must be brougt to final exam and shall be handed in together with the examination papers..

The case text and the case solution must be brought to the final exam. The final exam is a 4-hour individual written exam.The same case soluton is to be used at the resit exam.