mechd1305  2020-2021  Mons

Due to the COVID-19 crisis, the information below is subject to change, in particular that concerning the teaching mode (presential, distance or in a comodal or hybrid format).
6 credits
45.0 h + 10.0 h
Scarmure Patrick;

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

  • 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.
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), Managerial Economics – Theory, Applications, and Cases, 8th ed., Norton.
Faculty or entity