Economics and Managerial Decision Making
The main objective of the course is to teach students basic economic concepts. By the end of the course students should: comprehend the concepts and other tools that economists use to address economic issues; be able to practically apply these concepts and tools in engineering practice.
- explain functioning of competitive markets based on the laws of supply and demand
- Idenify key factors influencing decision making in the firm
- Distinguish between different market structures influencing market position of a firm
- Recognise the role of the state in the competitve market
- Calculate cost-effectivness of different investment options by using simple profitability estimationmethods
- Idetify risks related to the investments and participation in the market
- Recognise different instruments offerd at finacial markets
Forms of Teaching
Lectures are performed every week except in weeks when exams take place. Weekly lecture load is 2hours. Every lecture ends with brief examination of students' understanding of the subject by answering few short questions.Exams
There are two examinations during the lectures and three on-line examinations using Moodle system.Consultations
Lecturers are available for consultations any time upon agreement, via e-mail or in person.E-learning
Through Moodle system students get additional literature for reading, examples of calculations and possibility for self-testing.
|Type||Threshold||Percent of Grade||Threshold||Percent of Grade|
|Homeworks||0 %||20 %||0 %||20 %|
|Attendance||0 %||10 %||0 %||10 %|
|Mid Term Exam: Written||0 %||30 %||0 %|
|Final Exam: Written||0 %||40 %|
|Exam: Written||50 %||30 %|
|Exam: Oral||40 %|
The exam is successfully passed if minimally 50 points out of 100 is collected.
Week by Week Schedule
- Introduction to economics
- Supply and demand: theory
- Microeconomics fundamentals
- Consumer behavior
- Production and costs
- Market structures 1
- Market structures 2
- Antitrust and regulation
- Assessment of investment projects 1.
- Assessment of investment projects 2.
- Risk analysis 1.
- Risk analysis 2.
- Introduction to financial markets