Teacher(s)

Gilson Nathalie; Scarmure Patrick (compensates Gilson Nathalie);

Language

French

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.

Teaching methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

• Lectures
• Practical exercises.

Evaluation methods

Due to the COVID-19 crisis, the information in this section is particularly likely to change.

Written examination

Bibliography

• PINDYCK R., RUBINFELD D. (2017), Microéconomie, Pearson, 9e éd., traduction de PINDYCK R., RUBINFELD D. (2017), Microeconomics, 9th ed., Pearson.
  
• ALLEN B., WEIGELT K., DOHERTY N., MANSFIED E.(2012) (2012), Managerial Economics – Theory, Applications, and Cases, 8th, Norton
  

Faculty or entity

CLSM