MG431      Half Unit
Managerial Economics

This information is for the 2016/17 session.

Teacher responsible

Professor Ignacio Palacios-Huerta


This course is compulsory on the MSc in Management, MSc in Management (CEMS MIM) and MSc in Management (MiM Exchange). This course is not available as an outside option.

Course content

A graduate-level introduction to the foundations of managerial economics. Topics include:

1. Economics as a theory of organisation.

2. Economic Agents: Rationality and the co-ordination powers of the market (Demand and supply and equilibrium: the determinants of consumers' and firms' market responses and the nature of non-strategic interaction).

3. Strategic interaction and dynamic competition.

4. Information and efficiency.


20 hours of lectures and 15 hours of seminars in the MT.

Students on this course will have a reading week in Week 6 of MT, in line with departmental policy

Formative coursework

A problem set will be assigned and is due two weeks later. It will be marked for feedback purposes only.

Indicative reading

Main textbooks:

T van Zandt; Firms, Price and Markets, available online (2006); S. Estrin et al, Microeconomics, Prentice Hall (2008).

Students can also consider: D M Kreps, Microeconomics for Managers, W. W. Norton (2004)B. Douglas Bernheim and Michael D. Whiston, Microeconomics, McGraw Hill (2008).

Reading lists will be provided at the beginning of the course.


Exam (100%, duration: 2 hours) in the main exam period.

Key facts

Department: Management

Total students 2015/16: 89

Average class size 2015/16: 15

Controlled access 2015/16: Yes

Lecture capture used 2015/16: Yes (MT)

Value: Half Unit

Guidelines for interpreting course guide information

Personal development skills

  • Self-management
  • Team working
  • Problem solving
  • Commercial awareness
  • Specialist skills