This course is a branch of economics that applies microeconomic analysis to specific business decisions. As such, it bridges economic theory and economics in practice. The emphasis in this course will be on demand and supply analysis, consumer behavior, theory of firms, production and cost analysis under different market conditions, forecasting and decision making under uncertainty.
Course Content
This course contains; The Fundamentals of Managerial Economics,Market Forces: Demand & Supply,Quantitative Demand Analysis and Elasticity,The Theory of Individual Behavior,The Theory of Individual Behavior,The Production Process and Costs,The Production Process and Costs,Managing in Competitive, Monopolistic, and Monopolistically
Competitive Markets,Managing in Competitive, Monopolistic, and Monopolistically
Competitive Markets,Basic Oligopoly Models,Introduction to game theoretical approach,Basic Oligopoly models - game theory,Game theoretical approach to business decisions.
Dersin Öğrenme Kazanımları
Teaching Methods
Assessment Methods
1. Will be able to apply fundamental economic principles and theories to analyze and solve complex business problems.
10, 16, 9
A
1.1. Integrates microeconomic and macroeconomic concepts into business strategies.
1.2. Analyzes pricing and production decisions in competitive markets based on fundamental economic theories.
2. Will be able to understand the role of market forces on managerial decisions
16, 9
A
2.1. Examines economic factors affecting market demand and consumer preferences.
2.2. Utilizes demand analysis in formulating pricing and production strategies.
3. Will be able to analyze production costs and determine optimal production levels to maximize profitability.
16, 9
A
3.1. Distinguishes the effects of variable and fixed costs in production.
3.2. Evaluates economies of scale and scope in production processes.
4. Will be able to formulate effective pricing strategies based on an understanding of market structures and competitive dynamics.
16, 9
A
4.2. Distinguishes the market types as perfect competition, monopolistic competition, oligopoly, monopoly.
4.2. Evaluates different pricing strategies in different types of market.
5. Will be able to analyze strategic-decision making processes using game theory
16, 6, 9
A
5.1. Analyzes the inter-firm relations using the game theory techniques
5.2. Evaluates the managerial decisions within firms using the game theory approach
Managing in Competitive, Monopolistic, and Monopolistically
Competitive Markets
9
Managing in Competitive, Monopolistic, and Monopolistically
Competitive Markets
10
Basic Oligopoly Models
11
Introduction to game theoretical approach
12
Basic Oligopoly models - game theory
14
Game theoretical approach to business decisions
Resources
Baye, Michael R., Managerial Economics and Business Strategy, 9th
Edition, International Student Edition, Mc Graw-Hill, 2016.
Dominick Salvatore, Managerial Economics in a Global Economy, 9th Edition, Oxford
University Press: 2018.
Course Contribution to Program Qualifications
Course Contribution to Program Qualifications
No
Program Qualification
Contribution Level
1
2
3
4
5
1
(S)he describes theoretical knowledge in economics and finance.
X
2
(S)he explains mathematical and statistical methods needed for economics and finance.
X
3
(S)he uses at least one computer program utilized for economic and financial analyses (SPSS, Eviews, STATA, R ve MATLAB).
X
4
(S)he has the foreign language proficiency necessary for economics and finance.
X
5
(S)he develops projects in the field and handles team work.
6
(S)he develops (her) his awareness of lifetime learning, follows the developments in (her) his field and adopts a critical approach.
X
7
(S)he uses theoretical and practical knowledge on economics and finance.
X
8
(S)he delivers (her) his opinions by making effective use of modern technologies and of at least one foreign language at a minimum level of level C1.
X
9
(S)he adopts and uses organizational, corporate and social ethical values.
10
(S)he adopts principles of social responsibility and acts whenever needed in light of social service sensitivity.
11
(S)he analyzes and uses basic knowledge and data regarding different disciplines to conduct inter-disciplinary studies.
12
(S)he benefits from (her) his proficiency in economics and finance to make policy suggestions and contribute to the field.
X
Assessment Methods
Contribution Level
Absolute Evaluation
Rate of Midterm Exam to Success
50
Rate of Final Exam to Success
50
Total
100
ECTS / Workload Table
Activities
Number of
Duration(Hour)
Total Workload(Hour)
Course Hours
3
5
15
Guided Problem Solving
3
5
15
Resolution of Homework Problems and Submission as a Report
5
8
40
Term Project
0
0
0
Presentation of Project / Seminar
1
15
15
Quiz
3
6
18
Midterm Exam
2
18
36
General Exam
1
15
15
Performance Task, Maintenance Plan
0
0
0
Total Workload(Hour)
154
Dersin AKTS Kredisi = Toplam İş Yükü (Saat)/30*=(154/30)
5
ECTS of the course: 30 hours of work is counted as 1 ECTS credit.
Detail Informations of the Course
Course Description
Course
Code
Semester
T+P (Hour)
Credit
ECTS
MANAGERIAL ECONOMICS
-
Spring Semester
3+0
3
5
Course Program
Prerequisites Courses
Recommended Elective Courses
Language of Course
English
Course Level
First Cycle (Bachelor's Degree)
Course Type
Required
Course Coordinator
Assist.Prof. Ayşe Saime DÖNER
Name of Lecturer(s)
Assoc.Prof. Resul AYDEMİR
Assistant(s)
Aim
This course is a branch of economics that applies microeconomic analysis to specific business decisions. As such, it bridges economic theory and economics in practice. The emphasis in this course will be on demand and supply analysis, consumer behavior, theory of firms, production and cost analysis under different market conditions, forecasting and decision making under uncertainty.
Course Content
This course contains; The Fundamentals of Managerial Economics,Market Forces: Demand & Supply,Quantitative Demand Analysis and Elasticity,The Theory of Individual Behavior,The Theory of Individual Behavior,The Production Process and Costs,The Production Process and Costs,Managing in Competitive, Monopolistic, and Monopolistically
Competitive Markets,Managing in Competitive, Monopolistic, and Monopolistically
Competitive Markets,Basic Oligopoly Models,Introduction to game theoretical approach,Basic Oligopoly models - game theory,Game theoretical approach to business decisions.
Dersin Öğrenme Kazanımları
Teaching Methods
Assessment Methods
1. Will be able to apply fundamental economic principles and theories to analyze and solve complex business problems.
10, 16, 9
A
1.1. Integrates microeconomic and macroeconomic concepts into business strategies.
1.2. Analyzes pricing and production decisions in competitive markets based on fundamental economic theories.
2. Will be able to understand the role of market forces on managerial decisions
16, 9
A
2.1. Examines economic factors affecting market demand and consumer preferences.
2.2. Utilizes demand analysis in formulating pricing and production strategies.
3. Will be able to analyze production costs and determine optimal production levels to maximize profitability.
16, 9
A
3.1. Distinguishes the effects of variable and fixed costs in production.
3.2. Evaluates economies of scale and scope in production processes.
4. Will be able to formulate effective pricing strategies based on an understanding of market structures and competitive dynamics.
16, 9
A
4.2. Distinguishes the market types as perfect competition, monopolistic competition, oligopoly, monopoly.
4.2. Evaluates different pricing strategies in different types of market.
5. Will be able to analyze strategic-decision making processes using game theory
16, 6, 9
A
5.1. Analyzes the inter-firm relations using the game theory techniques
5.2. Evaluates the managerial decisions within firms using the game theory approach
