Econ for Managers – MIM


Course outline: Economics for Managers (MIM) 2017/18

Course textbook:

For all the course materials (other than the Harvard cases): download here.

Problem set: download here.


1. Consumer behaviour and basic review

1a. Max U
Evans, A.J., Maximilian Untergrundbahn, January 2013
Instructions: Complete the assignment questions

1b. Cost curves*
Evans, A.J., La Marmotte, January 2012
Instructions: Complete Exhibit 1 and provide suggestions for the two key decisions

2. Microeconomics and strategy

2a. Introduction to Game Theory*

2b. Oligopolistic competition

3. Firm strategy, competition and anti-trust

3a. Economies of scale
Rivkin, J.W., “Dogfight over Europe: Ryanair (A)” Harvard Business School case no. 9-700-115, November 21st 2007 (£)

Discussion question: What are some sources of economies of scale? How do they apply to British Airways in 1986?

3b. Competition Commission simulation

Evans, A.J., “CC Simulation”, ESCP Europe Working Case, February 2014

Discussion question: Is the market for airport services in the UK competitive?

4. Asymmetric information

4a. Adverse selection
Akerlof, G.A., (1970). “The Market for ‘Lemons’: Quality Uncertainty and the Market Mechanism”. Quarterly Journal of Economics 84(3):488–500 (£)

4b. Signalling*
Spence, M., (1973). “Job Market Signaling“. Quarterly Journal of Economics 87(3):355–374 (£)

Video: “Econ Duel: Is Education Signaling or Skill Building?” Marginal Revolution, March 2016

5. Market design

5a. Auctions
Hild, M., Dwidevy, A., and Raj, A., (2004) “The Biggest Auction Ever: 3G Licensing in Western Europe”, Darden Business Publishing (£)

Discussion question: What are the alternatives to auctions?

5b. REVIEW SESSION ON MICRO PROBLEM SET 

6. National income accounting

6a. Economic growth*
Solow, R., (1956) “A Contribution to the Theory of Economic Growth” The Quarterly Journal of Economics, 70(1):65-94 (£)

Video: “Growth is like an iPhone“, June 2016

6b. Banking crises*
Diamond, D.W., and Dybvig, P.H., (1983) “Bank Runs, Deposit Insurance, and Liquidity“, Journal of Political Economy, 91(3):401-419 (£)

7. Monetary policy

7. Monetary policy*
Video: An Introduction to the Dynamic AD-AS Model”, September 2014

8. Eurozone policy

8a. European Central Bank

Trumbull, G., Roscini, D., and Choi, D., “The Euro in Crisis: Decision Time at the European Central Bank” Harvard Business School case no. 9-711-049, March 23rd 2011 (£)

Evans, A.J., “The ECB During the Crisis“, May 2016

8b. Public finance

“Rovna Dan: The Flat Tax in Slovakia”, Harvard Business School case no. 9-707-043, March 2010 (£)

Evans, A.J., “Flat Tax in Slovakia”, May 2016

9. Fiscal policy

9. Fiscal policy*

10. European and global competitiveness

10a. Foreign investment and competitiveness
Porter, M., and Ketels, C., “Indonesia: Attracting foreign investment” Harvard Business School case no. 9-708-420, January 11th 2013 (£)

Evans, A.J., “Foreign Investment in Indonesia“, May 2016

10b. REVIEW SESSION ON MACRO PROBLEM SET

Note:

Sessions marked with an asterix (*) have a lecture handout available in advance.

Cases marked with a pound sign (£) are either available via Blackboard or through the library.