Ma­na­geri­al Eco­nom­ics

Course content

The student is given a basic introduction and understanding of the Managerial Economics subject area. Managerial Economics refers to the application of economic theory, data analysis and decision science to examine, how an organization can achieve its objectives most efficiently.

The application of economic theory and approaches in businesses is placed in a broader context during the course. This is both within a certain market structure and in a broader societal context, where various factors that affect organizations’ economics and their related decision-making are included.

Finishing the course, the students should be able to apply economic theory using the Managerial Economics method for decision-making in organizations. Emphasis is among other placed on the students' understanding of the Managerial Economics method and training in the application of economic theory, their selective use of data as well as the understanding of necessary assumptions that form the basis for a possible solution, interpretation and conclusion.

Thus, the course also emphasizes the use of data and in turn elevates the student’s analytical skills. In that way, the course also creates an emerging curiosity regarding the ambiguity and the limitations and possibilities of economic modelling.

During the course’s exercises, the students are encouraged to collaborate to support their own and fellow students’ learning.