BUSINESS ADMINISTRATION (ENGLISH, PHD) | |||||
PhD | TR-NQF-HE: Level 8 | QF-EHEA: Third Cycle | EQF-LLL: Level 8 |
Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
BUS6005 | Managerial Economics | Fall | 3 | 0 | 3 | 9 |
The course opens with the approval of the Department at the beginning of each semester |
Language of instruction: | En |
Type of course: | Must Course |
Course Level: | |
Mode of Delivery: | Face to face |
Course Coordinator : | Prof. Dr. ELİF OKAN |
Course Lecturer(s): |
Assoc. Prof. EMİN KÖKSAL |
Course Objectives: | Managerial Economics is an advanced course that aims to apply economic analysis to a wide array of business problems. The course offers a balanced coverage of traditional and modern microeconomic tools. It begins by teaching the practical utility of basic economic tools such as present value analysis, supply & demand, the basic models of perfect competition, monopoly, and monopolistic competition. It also offers real-world examples which includes modern topics such as oligopoly, multistage & repeated games, vertical & horizontal integration, networks, predatory pricing, principal–agent problems, adverse selection, auctions, limit pricing, and a host of other pricing strategies for firms enjoying market power. |
The students who have succeeded in this course; After completing this class you should be able to: • Explain the role of profits in a market economy. • Use marginal analysis to determine the optimal level of a managerial control variable. • Make investment decisions that increase firm value. • Set optimal prices and price discriminate. • Predict industry-level changes using demand/supply analysis. • Develop long-run strategies to increase firm value. • Use game theory to predict how your actions influence those of others. • Make decisions in uncertain environments. • Solve the problems caused by moral hazard and adverse selection. • Align individual incentives with the goals of the company. • Align division incentives with the goals of the company. • Manage relationships between upstream suppliers or downstream retailers. • Identify sources of market failure. |
The Organization of the Firm The Nature of Industry Managing in Competitive, Monopolistic, and Monopolistically Competitive Markets Basic Oligopoly Models Game Theory: Inside Oligopoly Pricing Strategies for Firms with Market Power The Economics of Information Advanced Topics in Business Strategy A Manager’s Guide to Government in the Marketplace |
Week | Subject | Related Preparation | |
1) | Basics of Managerial Economics | ||
2) | Supply and Demand | ||
3) | Analysis of Quantitative Demand | ||
4) | Theory of Customer Behavior | ||
5) | Production Process and Costs | ||
6) | The Organization of the Firm | ||
7) | Industry and Firms | ||
8) | Midterm | ||
9) | Managing in Competitive, Monopolistic, and Monopolistically Competitive Markets | ||
10) | Basic Oligopoly Models | ||
11) | Game Theory: Inside Oligopoly | ||
12) | The Economics of Information | ||
13) | Advanced Topics in Business Strategy | ||
14) | A Manager’s Guide to Government in the Marketplace |
Course Notes: | Managerial Economics & Business Strategy by Michael BAYE, McGraw-Hill, 7th edition, 2010. |
References: | The Economist Business Week |
Semester Requirements | Number of Activities | Level of Contribution |
Attendance | 1 | % 10 |
Laboratory | 0 | % 0 |
Application | 0 | % 0 |
Field Work | 0 | % 0 |
Special Course Internship (Work Placement) | 0 | % 0 |
Quizzes | 0 | % 0 |
Homework Assignments | 2 | % 20 |
Presentation | 0 | % 0 |
Project | 2 | % 20 |
Seminar | 0 | % 0 |
Midterms | 1 | % 20 |
Preliminary Jury | 0 | % 0 |
Final | 1 | % 30 |
Paper Submission | 0 | % 0 |
Jury | 0 | % 0 |
Bütünleme | % 0 | |
Total | % 100 | |
PERCENTAGE OF SEMESTER WORK | % 50 | |
PERCENTAGE OF FINAL WORK | % 50 | |
Total | % 100 |
Activities | Number of Activities | Duration (Hours) | Workload |
Course Hours | 14 | 3 | 42 |
Laboratory | 0 | 0 | 0 |
Application | 13 | 6 | 78 |
Special Course Internship (Work Placement) | 0 | 0 | 0 |
Field Work | 0 | 0 | 0 |
Study Hours Out of Class | 10 | 6 | 60 |
Presentations / Seminar | 0 | 0 | 0 |
Project | 2 | 4 | 8 |
Homework Assignments | 2 | 3 | 6 |
Quizzes | 0 | 0 | 0 |
Preliminary Jury | 0 | 0 | 0 |
Midterms | 1 | 3 | 3 |
Paper Submission | 0 | 0 | 0 |
Jury | 0 | 0 | 0 |
Final | 1 | 3 | 3 |
Total Workload | 200 |
No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
Program Outcomes | Level of Contribution |