mechc1305  2018-2019  Charleroi

6 credits
45.0 h + 10.0 h
Q1
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. (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