Home >> Courses Catalogue >> MANAGERIAL ECONOMICS
Course Code: 
MBS 7203
Course Credit Units: 
Semester 2
Year of Study: 
Year 1
Undergraduate or Graduate Level: 
Graduate Level
Course Discipline: 
Course Description & Objectives: 

Managerial Economics uses concepts, models and analytical techniques of economics to study and analyze the operations of businesses and the type of problems managers face. It also provides important conceptual insights for gaining a better understanding of business environment and to make quality business decisions. Managerial economics is designed to develop the students’ ability to apply fundamental economic concepts to business decision and policy issues and problems.                                                                                                                                                                                                                                                                           Objectives:This course aims to familiarise students with the key microeconomic concepts and models necessary for understanding and dealing with the problems of management, to enable them to:

  •  Approach managerial decision problems using economic reasoning.
  • Present business practice topics using an analytical approach, using equations and numerical insight.
  •  Carry out an appropriate microeconomic analysis of the actions of firms.
  •  Use game theory to analyse firms’ behaviour in a competitive market.
  •  Design coping strategies to compensate for the existence of uncertainty and risk.


Learning Outcomes: 

At the completion of this course, students should:

  •  Demonstrate the ability to define scarcity as related to resources.
  • Understand and evaluate market process and the new economy
  •  Understand and distinguish between Market Economy and Command Economy.
  •  Explain Traditional process and the firm and its goals.
  •  Differentiate between market Supply and market demand.
  • Know the importance Market equilibrium and disequilibria.
  • Demonstrate the ability to apply to management decision-making
  •  Explain the importance the economic concept of elasticity.
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