MBA Managerial Economics – Cotrugli

Background readings:

The textbook is Markets for Managers by Anthony J. Evans (Wiley, 2014).

I wrote it specifically for this course and all students are advised to read it in conjunction with the lectures. In addition, the website provides a number of interactive features including videos. More details are here: http://www.marketsformanagers.com.

The final exam will be based on discussion questions.

There are plenty of other good textbooks on the market. I also recommend Managerial Economics by Luke M. Froeb, Brian T. McCann, Michael R. Ward and Mikhael Shor (Thomson Southwestern 3rd edition, 2013) and A Concise Guide to Macroeconomics by David Moss (Harvard Business School Press, 2007).

Course handouts: download here.


Day 1

1. Incentives matter*

2. Understanding cost*

3. Price discrimination [Evans Ch.4.3] – Group Work

Read through the following Twitter thread: https://twitter.com/anthonyjevans/status/993918866186297349

Choose one of the tweets and use it as the basis to apply some microeconomic theory. Make assumptions and perform calculations where necessary.

4. Price Discrimination – Debrief

5. Auctions*

Hild, M., Dwidevy, A., and Raj, A., “The Biggest Auction Ever: 3G Licensing in Western Europe”, Darden Business Publishing, 2004 (£)

Discussion question: What are the alternatives to auctions?

Day 2

6. Monetary policy*

Video: Economic Prediction, January 2018

Video: “An introduction to the Dynamic AD-AS model“, September 2014

Video: “The four-fold path to monetary credibility“, July 2016

Video: “Optimal Currency Areas“, March 2017

7. Monetary policy II

“The Euro in Crisis: Decision Time at the European Central Bank” Harvard Business School case no. 9-711-049

The ECB During the Crisis, May 2016

8. Fiscal policy*

9. Fiscal policy II

10. Macro Policy Workshop

Choose your own financial crisis

Day 3

11. Probability theory

Krasker, William, “Freemark Abbey Winery”, Harvard Business School Case No. 9-181-027, March 24th 1994 (£)

12. Confidence intervals and significance testing*

Evans, Anthony J., “Taxi for Professor Evans” June 2018

Seeing Theory: Statistical Inference

13. Correlation and linear regression*

Evans, Anthony J., “The Suitcase Case” June 2018

Seeing Theory: Linear Regression

14. QM case workshop

15. Review session

Note:

Sessions marked with an asterix (*) have a lecture handout available in advance, which can be downloaded.

Cases marked with a pound sign (£) are available through the Programme Office.


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