Managerial Economics

In the long-run, we are all dead

John Maynard Keynes

Understanding the economic environment is essential for the successful management of virtually any business activity ranging from placement to production and marketing decisions. Indeed, making decisions is what management is all about. However, making the right decision is the biggest challenge any manager faces. Markets are fickle and competition can be intense, leaving managers faced with a wide variety of information and choices that need to be acted upon. Managerial Economics can help with structuring these difficult decisions by giving you the tools you need.

Managerial Economics provides a conceptual framework for understanding the economic forces at work in firms and markets and supplies models and tools for improving managerial decision making. This course aims to make the participant familiar with the language and methods of economic analysis while emphasizing issues of practical relevance in business management. Not only will you learn how supply and demand effect prices, or the fundamentals of differentiation in a firm’s strategy, but you will also learn how game theory and develop decision-trees can improve your decision-making processes, at a strategic level within the organisation.

After this course you will:

  • understand the impact of market forces such as demand and supply
  • be able to develop individual Decisions based on market demand
  • gain insight into production process in particular cost analysis
  • understand the nature of Industry and moreover Market Structures
  • be able to develop strategic decisions as well as pricing strategies
  • have insight into game theory and especially how it can be used in the decision-making process

The main topics of this course are:

  • Individual Decision Making
  • Technology & Cost Analysis
  • Market & Industries
  • Pricing Strategies
  • Interactive Decision Making
  • Decisions under Uncertainty
  • Organisational Design

 

Instructor

Dr. Lukasz Swiatczak
Professor of Managerial Economics

The Power of Partnership

 

Kozminski University     Maastricht University     Eada Business School Barcelona    Leipzig Graduate School of Management      Aix-Marseille Graduate School of Management     Audencia Business School

 

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