Teacher(s)

Gilson Nathalie; Ruiz Fernando;

Language

French

Prerequisites

MQAHD1325 ' Management mathematics

Main themes

• 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.

Aims

At the end of this learning unit, the student is able to :
1	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.

The contribution of this Teaching Unit to the development and command of the skills and learning outcomes of the programme(s) can be accessed at the end of this sheet, in the section entitled “Programmes/courses offering this Teaching Unit”.

Teaching methods

• Lectures
• Practical exercises.

Evaluation methods

Written examination

Bibliography

• PINDYCK R., RUBINFELD D. (2013), Microéconomie, Pearson Education, 8ème edition, traduction de PINDYCK R., RUBINFELD D. (2012), Microeconomics, 8th ed., Pearson.
• STIGLITZ J., WALSH C., LAFAY J.D. (2014), Principes de l'économie moderne, 4e éd., De Boeck, adaptation de STIGLITZ J., WALSH C. (2006), Economics, 4th ed., Norton.

Faculty or entity

CLSM