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Managerial Economics (MASTER)

Goals

Managerial economics studies the decision-making processes of firms and the actions and reactions of firms. The course aims to achieve two main objectives: First: we want to achieve fluency in the language of economics, where students have a thorough grasp of concepts such as elasticity, sunk costs, barriers to entry, dominant strategy, etc., which they will use in their future work. Second: we want to improve decision-making skills in a dynamic and uncertain business world. The courses in Managerial Economics are based on economic intuition and build logical conclusions that are relevant for the decision-making of managers and other stakeholders in the business world.

Syllabus

1. Theory of demand.
1.1. Classical theory of demand.
1.2. Theory of demand that is based on product characteristics.
1.3. Demand estimation and demand forecasting.

2. Production and costs.
2.1. Cost advantages.
2.2. Profit optimization and supply of the firm.
2.3. Costs analysis for business decisions.

3. Vertical boundaries of the firm.
3.1. The firm in a vertical chain.
3.2. Costs and benefits of vertical integration.
3.3. Model of vertical integration.

4. Diversification.
4.1. Measures and reasons of diversification.

5. Internal organisation

6. Market structures
6.1. Entry and exit.
6.2. Strategic commitment and game theory.

7. Dynamic pricing policy.

8. Price discrimination

9. Strategic positioning and comparative advantages.
9.1. Comparative advantage.
9.2. Strategic positioning.
9.3. Sustaining comparative advantage.

10. New business models.

Contacts

Andreja Cirman

Office hours

Wednesday at 9:00

room RZ104

Business portrait of Andreja Cirman in the library of the School of Economics and Business in October 2024, with a round window and shelves full of books in the background

Polona Domadenik Muren

Office hours

Monday at 12:00

room RZ-301

Please sign up for office hours in advance by email.

Business portrait of Polona Domadenik Muren in the green atrium of the School of Economics and Business on a sunny day in June 2024

Nevenka Hrovatin

Office hours

Wednesday at 14:30

room RZ-406

The office hours on 19th March will be held at 2 p.m.

Business portrait of Nevenka Hrovatin in the green atrium of the School of Economics and Business on a sunny day in June 2024

Matjaž Koman

Office hours

Thursday at 11:15

room RZ-307

Dear students. I will have office hours only by prior appointment via email. Regards. Matjaž Koman

Business portrait of Matjaž Koman in the green atrium of the School of Economics and Business on a sunny day in June 2024