Econ 510 at Kfupm

ECON510 – Sections 01 (UT 18:30-19:45)

MBA Syllabus: Managerial Economics

Department of Finance & Economics

College of Industrial Management

Year 2014-2015 (141)

Assistant Professor: Dr Reza F. Aghdam

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Office: Room 215, Building 24; Phone: 03 860 7525; Email: rezafa@kfupm.edu.sa

Course Description:

This course basically is about the application of economics in various economic problems that managers often face in real world business. In this respect, the course presents how principles of economics (predominantly microeconomics) can be used for achieving sound managerial decisions that would lead to efficient allocation of resources, mainly through implementing appropriate corporate planning strategies and effective tactics.

Course Objectives:

Upon competition of this course, students should be able to understand and analyze basics of:

* demand function, applying some empirical estimation techniques and making sound demand-side forecasting;

* production, cost and supply functions;

* output and pricing decisions;

* efficiency and productivity (and techniques for measuring them);

* business condition and environment (e.g., trends, cycles and seasonal effects);

* markets of factors of productions (e.g., labor, capital, and natural resources); and

* competitors’ behaviors under various market structures.

Textbook:

James McGuigan, Charles Moyer and Fredrick Harris (2011) Economics for Managmers 12th (International) edition, South-Western Cengage Learning, 2011.

COELLI, PRASADA RAO, and BATTESE, (2005) An introduction to efficiency and productivity analysis, 2nd edition, Boston, Springer ( This will be provided to Students. A limited chapters will be covered as a part of the course)

Further Readings:

Thais Ten Raa (2013) Microeconomics: Equilibrium & Efficiency Palgrave macmillan

Evaluation Arrangement:

Major1 (Week 6) Tuesday 28 Oct...