NATIONAL UNIVERSITY OF MANAGEMENT
SCHOOL OF GRADUATE STUDIES
MASTER PROGRAMME
Managerial Economics, MAE
COURSE OUTLINE
Overview
The objective of the course is to introduce
microeconomic concepts for business managers. After studying this course,
students should be able to understand the market frameworks of demand and
supply, the elasticity of demand and the welfare effects of government
regulations, such as taxes and subsidies, on consumers and producers. Firm
behavior and the organization of industry are also thoroughly discussed in
different forms of market structures, namely competitive market, monopoly and
oligopoly. Most importantly, the course
illustrates how would these concepts be used and accommodated for the
estimation and forecast of demand and supply, as well as pricing decision.
Lecturer: KEM
REAT, Viseth
Email Contact: kem.viseth@gmail.com
Textbook: Keat,
P. and P., Young, (2009), Managerial
Economics: Economic Tools for Today’s Decision Makers, Sixth Edition,
Prentice Hall.
For
those who are interested in further readings, the followings are useful references:
Hoy, et al, (1996), Mathematics for Economics,
Addison-Wesley.
Landsburg, S., (2002), Price Theory and Applications, Fifth
Edition, South-Western Thomson Learning.
Maurice and Thomas,
(2002), Managerial Economics, Seventh
Edition, McGraw-Hill Company.
Nicholson, W., (2002), Microeconomic Theory: Basic Principles and
Extensions, Eighth Edition, South-Western Thomson Learning.
Course Content:
Part 1: Introduction (Chapter 1 and 2)
Part 2: Supply and Demand (Chapter 3)
Part 3: Demand Elasticity (Chapter 4)
Mathematical Appendix included
Part 4: Demand Estimation and Forecasting (Chapter
5 and 6)
Mid-term
exam will be held once Part 4 is finished.
Part 5: The Theory and Estimation of Production
(Chapter 7)
Part 6: The Theory and of Estimation of Cost
(Chapter 8)
Part 7: Pricing and Output Decisions: Perfect
Competition and Monopoly (Ch. 9)
Part 8: Pricing and Output Decisions: Monopolistic
Competition and Oligopoly (Ch.10)
Assessment:
Assignments 20%
Mid-term Exam 30%
Final Exam 50%
Students
are encouraged to submit assignment on time. Student is entirely liable for any
late assignment. LATE ASSIGNMENT WILL NOT BE ACCEPTED. Copied assignment will
be marked ZERO.
CHEATINGS are strictly prohibited in
the exams!!!
In
addition to mandatory assignments, tutorial questions will be handed out from
time to time as the class progresses. Although tutorial answers are not graded,
students should prepare the solutions well before coming to the tutorial
classes. Please bear in mind that your performance in the exams tends to be
highly correlated to your effort in doing tutorial questions.