Economie managériale [ MECHC1305 ]

MQAHD1325 ' Management mathematics

• Perfect markets

Consumer choice, demand and elasticity, production decision and supply, law of supply and demand, market equilibrium and economic efficiency.

• Technologies and cost minimisation

Production function, average and marginal income, returns to scale, short and long-term cost minimisation, fixed and variable costs, total, average and marginal costs, economies of scale.

• (Absence of) market forces and price-quantity decision

Total, average and marginal revenue, profit maximisation, marginal and average conditions, elasticity and margin.

• Price discrimination

Pricing and market segmentation, two-part pricing and related sales, aggregation of demand and groups sales.

• Advertising

Optimal advertising expenditure: the Dorfman-Steiner model.

• Oligopolistic competition and agreement

Cournot duopoly and best response, Stackelberg quantity leadership and the advantage of initiative, Bertrand price war, collusion, coordination and incitement to cheat.

• Other topics, chosen by the teacher

Theory of consumer choice, market failures, vertical relationships, aspects of gaming theory.

• Perfect markets

Consumer choice, demand and elasticity, production decision and supply, law of supply and demand, market equilibrium and economic efficiency.

• Technologies and cost minimisation

Production function, average and marginal income, returns to scale, short and long-term cost minimisation, fixed and variable costs, total, average and marginal costs, economies of scale.

• (Absence of) market forces and price-quantity decision

Total, average and marginal revenue, profit maximisation, marginal and average conditions, elasticity and margin.

• Price discrimination

Pricing and market segmentation, two-part pricing and related sales, aggregation of demand and groups sales.

• Advertising

Optimal advertising expenditure: the Dorfman-Steiner model.

• Oligopolistic competition and agreement

Cournot duopoly and best response, Stackelberg quantity leadership and the advantage of initiative, Bertrand price war, collusion, coordination and incitement to cheat.

• Other topics, chosen by the teacher

Theory of consumer choice, market failures, vertical relationships, aspects of gaming theory.

On completion of this course, students will be able:

• to master the fundamental economic concepts and how they interrelate;
• to understand the principles of economic reasoning;

to understand microeconomic models in connection with the management of companies.

Written examination

• Lectures
• Practical exercises.

• MANSFIELD E. (2002), Economie managériale. Théorie et applications, De Boeck, adaptation of MANSFIELD E, ALLEN W.B., DOHERTY N. (2005), Managerial Economics, 4th ed., Norton.
• PINDYCK R., RUBINFELD D., SOLLOGOUB, M. (2005), Microéconomie, Pearson Education, adaptation of PINDYCK R., RUBINFELD D. (2004), Microeconomics, 6th ed., Prentice Hall.
• ' STIGLITZ J., WALSH C. and LAFFAY J.-D. (2007), Principes de l'économie moderne, 3rd ed., De Boeck, adaptation of STIGLITZ J., WALSH C. (2006), Economics, 4th ed., Norton.