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We adhere closely to mainstream economics thinking, but pay particular attention to business applications. We take our students through market equilibrium, competition, monopoly, price and non-price business strategies. Our teaching methodology takes a fundamentally problem-solving approach. Models and analytical skills are introduced in order to solve business problems systematically.Information technology and the Internet have made many changes in the way businesses are run, and Managerial Economics has changed significantly with it. We now devote a new portion of this course to discussing how network effects propel the information age, resulting in significant monopoly powers such as Microsoft. Related anti-trust and other cases are also discussed and analysed.","Order":1},{"ID":"3e5f053b-8835-4692-be49-41f07234cfff","Title":"Teaching Modes","Description":"2 hour lectures and one hour tutorials each week. For lectures, profs Jo Seung-gyu an Yang Nan will take turns to teach the same stuff in two lecture groups. Please refer to the course outline for more details.
\r\n","Order":3},{"ID":"4e5f053b-8835-4692-be49-41f07234cfff","Title":"Schedule","Description":"Lectures are at 12:00noon - 1:50pm (D1) and 2:00pm - 3:45pm )D2) on Tuesdays.","Order":4},{"ID":"5e5f053b-8835-4692-be49-41f07234cfff","Title":"Synopsis","Description":"Managerial Economics as the BBA core course is about exposing the students to a rigorous foundation in microeconomics, game theory and industrial organization. It aims to develop students’ capacity to analyze the economic environments in which business entities operate and understand how managerial decisions can vary under different constraints that each economic environment places on a manager’s pursuit of its goals. Its focus will be on analyzing the functioning of markets, the economic behavior of firms and other economic agents and their economic/social implications.
\r\n
\r\nStudents’ appreciation of the analytic strength and practical applicability of microeconomic theory being the main objective, the course accordingly is concerned with both theory and applications. The theory serves to construct a rigorous framework of principles and techniques, and the applications bring real aspects into the classroom through multiple cases and examples from various sources.
\r\n
\r\nStudents are expected to develop intuitions behind each economic concept and understand the theory to formalize it. More importantly, however, students are encouraged to build ability to apply their learning to the complex business realities.
\r\n
\r\nKnowledge of basic algebra and calculus skills are assumed throughout the course.","Order":5},{"ID":"6e5f053b-8835-4692-be49-41f07234cfff","Title":"Syllabus","Description":"Please refer to the course outline in Workbin.","Order":6},{"ID":"8e5f053b-8835-4692-be49-41f07234cfff","Title":"Assessment","Description":" 1. Problem Sets: 20%
\r\n2. Case Presentations: 10%
\r\n3. Attendance/Participation in Lectures and Tutorials: 10 %
\r\n4. Final Exam: 60 %
\r\n
\r\nThe assessment categories 1 and 2 in the above are to be based on group-work. Students will be asked to form their own team, the details of which are to be announced during the first tutorial in Week3. All the team members are expected to work cooperatively as a group, all of whom would receive the same evaluation for their work regardless of the individual variation in their contribution. More details on assessment categories will be briefed once the semester starts.
\r\n
\r\n
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