Although we do not yet know how long the social distancing related to the Covid-19 pandemic will last, and regardless of the changes that had to be made in the evaluation of the June 2020 session in relation to what is provided for in this learning unit description, new learnig unit evaluation methods may still be adopted by the teachers; details of these methods have been - or will be - communicated to the students by the teachers, as soon as possible.
At the end of this learning unit, the student is able to :
Consumer choice, demand and elasticity, production decision and supply, law of supply and demand, market equilibrium and economic efficiency.
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.
Total, average and marginal revenue, profit maximisation, marginal and average conditions, elasticity and margin.
Pricing and market segmentation, two-part pricing and related sales, aggregation of demand and groups sales.
Optimal advertising expenditure: the Dorfman-Steiner model.
Cournot duopoly and best response, Stackelberg quantity leadership and the advantage of initiative, Bertrand price war, collusion, coordination and incitement to cheat.
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”.
ALLEN B., WEIGELT K., DOHERTY N., MANSFIED E. (2012), Managerial Economics – Theory, Applications, and Cases, 8th ed., Norton.