Economía Gerencial-EN02-201402

MANAGERIAL ECONOMIC (ME) focuses on the economic dimensions of decisions that are to be made by managers in their daily activities including output and pricing resource allocation scope of the firm strategic positioning; so that firms are able to achieve their objectives through the most efficient means. ME draws on microeconomics or the field of economics concerned with how individuals households and firms allocate resources under supply and demand market forces. ME generally aims at providing participants with an intermediate understanding of the economic rationale and impact of decisions made within firms.The course requires some basic knowledge in Economics but it doesn¿t assume it. Hence it provides information both about the basic concepts as well as the more in- depth knowledge required to deal with more complex problems. The pedagogical approach is based on explaining fundamental concepts in their simplest form building theoretical frameworks on the basis of these concepts and then applying them to the understanding of specific real-world managerial problems or situations. The level of explanation is essentially verbal and graphical and although the course will use some basic mathematical formulas what is expected from participants is a clear grasp and ability to apply the underlying economic intuitions. ME will involve a significant amount of reflective reading. Readings will involve analytical tools as well as applications to the management world. Given the rigorous systematic and cumulative approach of Economics it will be necessary to follow the text carefully and avoid missing the flow of the concepts and frameworks and their details as not doing so may entail missing some important aspect of the discourse and analysis. Reading will be facilitated by a great deal of practical in-depth examples and cases often taken from the business press. Some additional effort will be required for exercises case solving and group work