MG207
Managerial Economics
This information is for the 2021/22 session.
Teacher responsible
Dr Catherine Thomas NAB 5.27
Availability
This course is compulsory on the BSc in Management. This course is available on the BSc in Business Mathematics and Statistics. This course is available as an outside option to students on other programmes where regulations permit. This course is available with permission to General Course students.
This course has a limited number of places (it is capped). Students who have this course as a compulsory course are guaranteed a place. Places for all other students are allocated on a first come first served basis.
Pre-requisites
Economics A (EC100) or Economics B (EC102) or Microeconomics I (EC1A3) or Macroeconomics I (EC1B3) is a pre-requisite. In addition, Quantitative Methods (Mathematics) (MA107) or equivalent is also a pre-requisite. This course cannot be combined with Microeconomic Principles I (EC201) or Microeconomic Principles II (EC202).
Course content
The objective of the course is to provide students with insights from economic theory which are relevant to applications in managerial decision making. The emphasis is on applying microeconomics ideas to solve problems. Topics covered include consumer theory, production, market structure, monopoly, oligopoly, pricing, game theory, bargaining, auctions, and asymmetric information.
Teaching
Teaching hours will be commensurate with a usual full unit undergraduate course but note that teaching may take a different format and/or structure in 2021/22.
Students on this course will have a reading week in Week 6, in line with departmental policy.
Formative coursework
Students are expected to prepare answers to set problems on a weekly basis. Some of this work will be assessed. Assiduous preparation for the weekly tutorials is essential to achieve a good exam performance.
Indicative reading
No textbook covers the whole course but Hal R Varian, Intermediate Microeconomics with Calculus (International Student Edition) is the best text book to use for the course. In addition students are advised to refer to T C Bergstrom & H R Varian, Workouts in Intermediate Microeconomics (1990), which contains practice problems.
Assessment
Exam (100%, duration: 3 hours) in the summer exam period.
Course selection videos
Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.
Important information in response to COVID-19
Please note that during 2021/22 academic year some variation to teaching and learning activities may be required to respond to changes in public health advice and/or to account for the differing needs of students in attendance on campus and those who might be studying online. For example, this may involve changes to the mode of teaching delivery and/or the format or weighting of assessments. Changes will only be made if required and students will be notified about any changes to teaching or assessment plans at the earliest opportunity.
Key facts
Department: Management
Total students 2020/21: 148
Average class size 2020/21: 19
Capped 2020/21: No
Value: One Unit
Personal development skills
- Problem solving
- Application of numeracy skills
- Commercial awareness
- Specialist skills
