Module Description

Managerial Economics will enable students to gain a good understanding of basic concepts in Economics when placed in key managerial positions in various organizations. The students will develop skills in decision-making and problem-solving as a potential position of a manager will require.

Module Aim

The aim of the module is to enhance students’ understanding of resource allocation and efficiency in an applied manner.

Module Learning Outcomes

After completion of the module students should be able to:

1. Assess economic efficiency and optimization of economic resources.
2. Explain how managerial economics can be used as a tool for managerial decision making.
3. Analyse optimization techniques, demand analysis and forecasting, applications of cost theory, price and output determination under different market structures.
4. Compute the quantitative impact of government regulation.
5. Demonstrate problem solving techniques in managerial economics