Course overview
This course builds on the microeconomic principles studied in the Level I Economics courses and provides an analysis of the way decisions are made by individual economic agents. It develops a basis for evaluating the efficiency and equity implications of various market structures, and a perspective on the appropriate role of government. Included are the study of consumer choice, production and cost, market structure, and market failure. Managerial Economics II will continue on the emphasis on applications as in Principles of Economics I.
Course learning outcomes
- Frame managerial and other economic problems in terms of core microeconomic concepts and principles.
- Apply analytical techniques, including solving mathematical and diagrammatic problems, to analyse managerial and microeconomic scenarios.
- Present a clear and coherent exposition of microeconomic knowledge, ideas and empirical evidence both orally and in writing.
- Engage professionally in group discussions to work towards a collaborative position on managerial and economic issues.
- Reflect on the nature and implications of assumptions and value judgments in microeconomic analysis, managerial decisions, and policy.