Managerial Economics applies economic theory and methods to business and administrative decision making. Because it uses the tools and techniques of economic analysis to solve managerial problems, managerial economics links traditional economics with the decision sciences to develop vital tools for managerial decision making. The course of Managerial Economics aims to identify how the firms’ and organizations policies are being analyzed and implemented in the frames of strategic decision – making.
Students will be able to develop the skills and to provide the opportunity to practice the study of Managerial Economics. Moreover, they will develop a critical understanding of methods, procedures and current issues and debates appropriate to the study of Managerial Economics.
During this course, the most crucial topics are related to the demand – supply relationship, the determination of pricing policy, the cost factors and the costing systems, the maximization of revenues and profits, game theory, the structure of budgeting systems, the performance measurements and the acquisition of competitive advantages. Moreover, case studies will be used for the understanding of the above issues.
- Allen B. W., Weigelt K., Doherty N. and Mansfield E., “Managerial Economics: Theory, Applications and Cases”, W. W. Norton and Company, 8th edition, 2013.
- Mankiw N. G., Taylor M. P. and Ashwin A., “Business Economics”, Cengage Learning EMEA, 2016.
- Keat P. and Young P., “Managerial Economics”, Prentice Hall, 6th edition, 2009.
- Salvatore D., “Managerial Economics in a Global Economy”, Oxford University Press, 2007.