Prof Ignacio Palacios-Huerta and Mr Revi Panidha

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

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. 2 hours of lectures in the ST.

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

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

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.