FMS8AE

Economic policy

ECTS Credits: 3

Duration: 35 hours

Semester: S8

Persons in charge:

Keywords: Managerial economics, microeconomics, economic strategy, analysis of demand and supply

Prerequisites:  None

Objective: To analyze the managers' decisions with microeconomic tools.

Program and contents:

This course illustrates, with economic analysis tools, the decisional problems that managers face within firms. It displays the analytics elements that guide their decisions. Departing from concrete managerial problems, optimal decisions are displayed through concepts from microeconomic theory. The course is shared into three parts:

 1) The first part studies the managers' decisions: estimation of demand, determination of optimal pricing, analysis of costs
2) In the second part, the firm is then replaced in its competitive environment; several market structured are analyzed: perfect competition and imperfect competition, notably monopoly and oligopoly?
3) The third part analyzes the sources of inefficiency of the market, and proposes examples in terms of decision-making in different possible contexts, such as asymmetric information or bargaining.

Abilities: 

Levels

Description and operational verbs

Know 

The microeconomic environment of firms.
The tools available for managers and their decisions criteria.

Understand 

The stakes of firms.

Apply 

Analyze 

Summarize

Assess

Evaluation:

• Written test

• Continuous Control

• Oral report

• Project

• Written report